$2,275,000
$2,150,000
5.8%For more information regarding the value of a property, please contact us for a free consultation.
4 Beds
2 Baths
1,552 SqFt
SOLD DATE : 05/30/2024
Key Details
Sold Price $2,275,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 1,552 sqft
Price per Sqft $1,465
MLS Listing ID PW24094744
Sold Date 05/30/24
Bedrooms 4
Full Baths 2
HOA Y/N No
Year Built 1988
Lot Size 1,354 Sqft
Acres 0.0311
Property Description
119 40th Street presents a rare opportunity in the Sand Section, less than a block from the beach. This duplex offers (2) 2-Bed/1-Bath units, each showcasing stunning ocean views from living rooms and balconies. The property also features a spacious (4) car garage w/ storage compartments + (2) driveway spots, plus the convenience of on-site laundry. Currently at 1.96% CAP with a 4.42% Market CAP, this property promises potential appreciation and rental upside with interior remodel. Short Term Rental Permits are also available for this property. According to Air DNA, the #1 platform for STR Data, The short- term yearly rental income is $196.5K. With its location, configuration, and upside - 119 40th St is an ideal asset for any Beach Cities investor or owner-user.
Location
State CA
County Los Angeles
Area 142 - Manhattan Bch Sand
Zoning MNRH
Rooms
Main Level Bedrooms 4
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Cooling Central Air
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Biking
View Y/N Yes
View Ocean
Attached Garage Yes
Total Parking Spaces 4
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Schools
School District Manhattan Unified
Others
Senior Community No
Tax ID 4137009036
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash
Special Listing Condition Standard
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Bought with 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! "