Active

2208 The Strand

MANHATTAN BEACH CA, 90266

$14,350,000


$2,763.34 per sqft

Active

9 Beds

8 Baths

5,193 sqft

Multi-family

Built in 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 3.00% 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 3.95% interest rate. Contact us today to seize this unparalleled investment opportunity. For those potentially interested in building a portfolio of Strand investment properties, the seller would also consider this property as part of a larger Strand acquisition, consisting of additional properties not yet on the market.

SB23083650MR

MLS ID

April 29, 2023

Listed

October 10, 2023

Updated

Map

2208 The Strand
MANHATTAN BEACH CA, 90266

Interior Features

Total Stories

4


Bedrooms

9 Beds


Bathrooms

8 Baths


Appliances

Oven-Gas


Laundry Description

Community, Garage


Fireplace

Yes


Fireplace Description

Living Room


Cooling

Yes


Cooling Description

None


Heating

Yes


Heating Description

Wall

Exterior/Building Features

Lot Size

0.08 acres


Roof

Flat


Sewer

Public Sewer

Other Property Details

Days on Market

138


Garage

Yes


Garage Spaces

9


Parking

Garage


Parking Total

18


View

Yes


View Description

Catalina, Coastline, Ocean, Panoramic, Pier, Water, White Water


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None

Courtesy of Shawn Dugan with Strand Hill Properties
Listing Contact: 310-265-3428 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Kris Zacuto shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2023 Combined L.A./Westside MLS. All rights reserved.

Data last updated 10/10/2023

Powered byLuxury Presence