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. Inquire for Offering Memorandum. 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.
SB23091731MR
MLSⓇ ID
May 25, 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
9
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