825 Manhattan Ave - Apartments FOR SALE


Hermosa Beach, CA 90254
$3,900,000 USD
818-517-0845
825 Manhattan Ave, Hermosa Beach, CA for Sale
$3,900,000 USD
Apartments - FOR SALE
1/63
null | 3.71% Cap Rate

825 Manhattan Ave
Hermosa Beach, CA 90254


HIGHLIGHTS

  • Rare Hermosa Beach Sand Section Offering
  • Turnkey Asset with Extensive Renovations and Capital Improvements
  • Modern Unit Interiors with High-End Finishes and In-Unit Laundry
  • Irreplaceable Location Only a Few Blocks from the Beach
  • One One-Bedroom Unit Can Be Delivered Vacant
  • Ideal for Owner/User or Investor

OVERVIEW

Welcome to this exceptional investment opportunity in the highly desirable Hermosa Beach sand section! This high income producing was meticulously renovated with no expense spared. All five units feature in-unit washer/dryers, brand new dual-pane windows, beautiful modern entry doors, recessed lighting and luxury vinyl plank flooring throughout. Gorgeous top of the line finishes in all the units include new interior paint, new modern kitchen cabinets, elegant quartz countertops, stainless steel appliances, updated bathroom vanities, modern mirrors, bathtubs and premium designer shower and floor tile. Significant capital improvements have been completed, including a new electrical main panel with individual subpanels, new plumbing for each unit, modern exterior fencing, upgraded balcony deck tile and flush steel-back insulated garage doors with automatic openers. Just a short distance from the world-famous beach and vibrant downtown Hermosa, this income property boasts a wealth of amenities that are preferred by all potential tenants, including a variety of trendy restaurants, boutique shops, and lively bars. Opportunities to acquire turnkey income properties in such a prime location are rare. This property is move-in ready for any new tenants. It offers an ideal unit mix: three one-bedroom units, one two-bedroom unit, and one studio, ensuring virtually full occupancy throughout the year. One of the one-bedroom units may be delivered vacant, providing an attractive owner/user opportunity or immediate rental upside. This trophy property serves as an asset and great store of value for the discerning investor. Don’t miss your chance to seize this incredible opportunity!

FOR SALE DETAILS

PRICE

$3,900,000 USD

PRICE/SF

$1,333 USD /SF

# OF UNITS

5

PRICE/UNIT

$780,000

CAP RATE

3.71%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1949

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,000 SF

ZONING

HBR3YY

APN/PARCEL ID

4187-007-010

ASK ABOUT THIS PROPERTY

Benjamin HsiangRealty Investment AdvisorsMore Info
818-517-0845

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Benjamin HsiangRealty Investment AdvisorsMore Info
818-517-0845

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.