$2,275,000
$2,150,000
5.8%For more information regarding the value of a property, please contact us for a free consultation.
1,353 Sqft Lot
SOLD DATE : 05/30/2024
Key Details
Sold Price $2,275,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW24094707
Sold Date 05/30/24
HOA Y/N No
Lot Size 1,353 Sqft
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.
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 Manhattan Beach (90266)
Zoning Assessor
Building
Story 1
Lot Size Range 1-3999 SF
Level or Stories 2 Story
Others
Monthly Total Fees $178
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash
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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! "
1615 Murray Canyon Rd Suite 110, Diego, California, 92108, United States