1500 Manhattan Ave, Hermosa Beach, CA 90254
1500 Manhattan Ave, Hermosa Beach, CA 90254
1500 Manhattan Ave, Hermosa Beach, CA 90254
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Sharad Gupta

Sharad Gupta

+1(408) 401-1003
Listed by Cameron Samimi, DRE #02035763 • Lyon Stahl Investment Real Estate, Inc.
$4,250,000
Est. payment /mo
4,506 Sqft Lot
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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRSB26163830

Year Built 1962

Lot Size 4,506 Sqft

Source California Regional MLS

Property Description

1500 Manhattan Avenue presents a rare opportunity to acquire a six-unit multifamily property in the heart of Hermosa Beach's highly sought-after Sand Section, just moments from the beach, The Strand, and the vibrant dining, shopping, and entertainment along Pier Avenue. Situated on a 4,506 square foot lot, the property consists of six well-designed units, including one (3-Bedroom/2-Bath), two (2-Bedroom/1-Bath), one (1-Bedroom/1-Bath), and two studio units, totaling approximately 4,604 square feet of rentable building area. Offered at a 3.57% Current CAP Rate and 17.82 Current GRM, the property provides investors with stable in-place income and additional upside through the continued turnover of below-market rents. Upon stabilization, the asset offers a projected 4.68% Market CAP Rate and 15.27 Market GRM, providing an attractive opportunity to increase cash flow while owning a premier coastal asset. Additionally, the property is located within the California Coastal Zone, offering the potential for future short-term rental use, subject to buyer verification of all applicable regulations and permitting requirements. The property also features eight on-site parking spaces, including four carport spaces and four tandem spaces, a valuable amenity in this highly walkable beach

Location

State CA

County Los Angeles

Area 149 - Hermosa Bch Valley

Interior

Laundry None

Exterior

Parking Features Assigned Spaces

Garage Spaces 8.0

Pool None

Building

Story Three or More Stories

Water District - Public

Others

Tax ID 4183013010

Special Listing Condition Not Applicable

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Sharad Gupta
Sharad Gupta

Broker License ID: 02213637

+1(408) 401-1003

5201 Great America Pkwy, Santa Clara, CA 95054, USA

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1500 Manhattan Ave

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