$4,850,000
$5,350,000
9.3%For more information regarding the value of a property, please contact us for a free consultation.
7,347 SqFt
SOLD DATE : 08/02/2023
Key Details
Sold Price $4,850,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 7,347 sqft
Price per Sqft $660
MLS Listing ID SB22233106
Sold Date 08/02/23
HOA Y/N No
Year Built 1974
Lot Size 5,884 Sqft
Acres 0.1351
Property Description
480 Rosecrans Ave is a rare 8-unit building in the sand section of Manhattan Beach. The 8,486 SF building features (1) 4-Bed/4-Bath, (5) 2-Bed/2-Bath, (1) 1-Bed/1-Bath, and (1) Studio Units. The 1-Bed/1-Bath unit is non-conforming permit pending and the studio unit is non conforming. The building sits on a 5,886 SF lot and includes an on-site laundry space and carport spaces for each unit. The building boasts a 4.01% Cap with a 5.11% market cap and generates over $26K per month.
Located less than a half mile from the beach, 480 Rosecrans Ave is a trophy asset and rare opportunity to own commercial real estate in the coveted Beach Cities submarket.
Attractive 5.16% financing available at 41% LTV. First 3 years are interest only; 30 year amortization thereafter. Full Loan Quote included in the Offering Memorandum
Location
State CA
County Los Angeles
Area 142 - Manhattan Bch Sand
Zoning MNRM-D1
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Garage Carport
Carport Spaces 8
Pool None
Community Features Biking
Parking Type Carport
Total Parking Spaces 8
Private Pool No
Building
Lot Description Sloped Down
Faces North
Sewer Private Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4175006032
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with J.Woody Stahl • Lyon Stahl Investment Real Est
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "