712 Manhattan Ave - Apartments FOR SALE


Hermosa Beach, CA 90254
$3,799,000 USD
712 Manhattan Ave, Hermosa Beach, CA for Sale
$3,799,000 USD
Apartments - FOR SALE
1/11
null | 4.4% Cap Rate

712 Manhattan Ave
Hermosa Beach, CA 90254


HIGHLIGHTS

  • Unbeatable Coastal Setting
  • Classic Beach Community Appeal
  • Significant Value-Add Potential

OVERVIEW

Welcome to the "Seahorse Apartments," located at 712 Manhattan Avenue - a rare value-add multifamily opportunity in one of the most desirable locations in Hermosa Beach, just moments from the ocean and Hermosa Beach Pier and the beach lifestyle that define the South Bay. The property consists of 12 units: six one-bedroom units and six studios, offering a strong mix in an unbeatable coastal setting. Current rents are estimated at roughly 50% of market, creating substantial upside for an investor looking to renovate and reposition the property over time. Opportunities of this scale in Hermosa Beach are extremely limited: only 4 other properties with more than 10 units have sold on the market in the past decade. At well under $350,000 per unit and situated only two blocks from the Hermosa Pier, 712 Manhattan Avenue represents an unparalleled chance to acquire a larger multifamily asset in a premier beach community with clear value-add potential and long-term investment appeal.

FOR SALE DETAILS

PRICE

$3,799,000 USD

PRICE/SF

$852 USD /SF

# OF UNITS

12

PRICE/UNIT

$316,583

CAP RATE

4.4%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Seahorse Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1940

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

HBR3YY

APN/PARCEL ID

4187-022-011

ASK ABOUT THIS PROPERTY

Andrew WilkeyTriWest DevelopmentMore Info

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