323 Marine Ave - Triplex in Manhattan Beach
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323 Marine Ave - Triplex in Manhattan Beach
3 Unit Apartment Building Offered at $3,400,000 at a 1.66% Cap Rate in Manhattan Beach, CA 90266
Investment Highlights
- Lowest-Priced Full Lot (30' x 90') in the Sand Section of MB
- Redeveloped Parcel to the East Has White Water Views and Sold in 2017 for Nearly 7M!
- Air DNA - #1 Platform for Short Term Rentals Estimates Revenue Up To $300k / Year
- Build a New Custom Home with Panoramic Ocean Views
- Zoning Allows for Immediate Use As Short Term Rentals to Increase Cash Flow!
- One Unit is Currently Vacant, Great Owner-User Opportunity While Working Through Plans For Redevelopment
Executive Summary
Lowest-priced full lot (30’ x 90’) in the Sand Section! A+ location with ocean views situated just a few blocks from The Strand! The front building has (2) 2-Bed/1-Bath units and the rear building has a 1-Bed/1-Bath unit above the 3 Car Garage. This is a great opportunity to build your dream house with big ocean views, and if you are not ready to build, increase the revenue by renting the existing units as short-term rentals. The redeveloped property to the East has White-Water Panoramic Ocean Views from PV to Malibu and sold for $6.9M in 2017.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $3,400,000 | Lot Size | 0.06 AC |
| Price Per Unit | $1,133,333 | Building Size | 2,256 SF |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 1.66% | Year Built | 1939 |
| No. Units | 3 | Parking Ratio | 1.33/1,000 SF |
| Property Type | Multifamily |
| Price | $3,400,000 |
| Price Per Unit | $1,133,333 |
| Sale Type | Investment |
| Cap Rate | 1.66% |
| No. Units | 3 |
| Property Type | Multifamily |
| Lot Size | 0.06 AC |
| Building Size | 2,256 SF |
| No. Stories | 2 |
| Year Built | 1939 |
| Parking Ratio | 1.33/1,000 SF |
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Walk Score ®
Very Walkable (78)
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323 Marine Ave - Triplex in Manhattan Beach
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