Listed by Shawn Dugan with Strand Hill Properties

2208 The Strand

Manhattan Beach, CA, 90266

$14,350,000

$2,763 per ft²
$14,350,000
$2,763 per ft²
Active
Active
 - For Sale
beds
9 Beds
baths
8 Baths
carpenters-square
5,193 ft²
property_type
Multi-family
calendar
Built 1972
Introducing 2208 The Strand, an extraordinary trophy income property nestled in the heart of Manhattan Beach. This remarkable four-unit building presents a rare opportunity to own a slice of coastal paradise on one of Southern California's most coveted coastlines, at approximately $3.5M per unit. Spanning a combined 5,193 sq. ft., this beachfront Strand property offers a total of 9 beds and 8 baths across its 3 x 2-bed, 2-bath units and 1 x 3-bed, 2-bath unit. With complete interior and exterior rehabilitation, this property exemplifies luxury living. Each unit boasts panoramic ocean views, allowing residents to soak in the beauty of the Pacific from Palos Verdes to Malibu. With each unit occupying its own floor and no shared walls, privacy and tranquility are assured. The sleek design features smooth coat stucco and Fleetwood glass doors, seamlessly merging contemporary style with the coastal ambiance. In addition to the stunning interiors, the property offers 9 garage parking spaces and laundry facilities, ensuring convenience for residents. The current gross rents of $36,529 per month or $438,348 per year demonstrate the lucrative rental potential of this prime Strand property, with a 33 GRM and pro-forma upside to an impressive 23 GRM and 3.07% cap rate. This centrally located property offers a wealth of options. Whether you choose to live in the owner's unit and rent out the others or maximize the rental income throughout the entire building, this versatile investment provides endless possibilities. Situated within easy access to the beach, downtown Manhattan Beach, and the amenities of North Manhattan, residents can savor the best of coastal living. Don't miss this once-in-a-lifetime opportunity to own a coveted multi-unit building on The Strand. Seller may consider financing at a low 3.5% interest rate. Contact us today to seize this unparalleled investment opportunity.
MLS® ID:
SB23083650
Listed:
4/28/23
Updated:
5/29/23
The Hobin Company - Bayside Real Estate

Interior Features

Appliances
Gas Cooktop, Gas Oven, Water Heater
Total Bedrooms
9
Full Bathrooms
8
Interior Features
Balcony
Laundry Description
Common Area, In Garage
Fireplace
Living Room
Cooling
None
Heating
Wall Furnace

Exterior/Building Features

Lot Size
3,512 ft² lot
Architectural Style
Quadruplex
Lot Details
Street Level
Roof
Flat
Sewer
Public Sewer

School Information

School District
Manhattan Unified
High School
Mira Costa
Middle/Jr High
Manhattan Beach
Elementary School
Grand View

Other Property Details

Area Name
142 - Manhattan Bch Sand
Association Amenities
Curbs, Sidewalks
Garage
Yes
Garage Spaces
9
Parking
Garage
Parking Total
18.0
View
Y
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Total Stories
4
Zoning
MNRH
Buyer Agency Compensation
2.500

Listing Contact:  

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/29/23. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2023 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/29/23 at 6:16 PM UTC

The Hobin Company - Bayside Real Estate
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