Status: Under Contract - Under Contract
Property Type:Residential Income (Multi-Family)
On Site:24 Days
Lot Size:1,352 Sq. Ft.
This duplex is an opportunity for an investor or owner-user to purchase a multifamily property located just above The Strand in Manhattan Beach, California. The property consists of a mix of (1) two-bed/one-bath & (1) one-bed/one-bath units. There is one 2-Car Garage on 36th Place and a shared private yard at the back of the property. A new owner can capitalize on the tight rental market and high rents in this neighborhood by fully upgrading and renovating the units to achieve top of the market rents. This is a pride of ownership property. Quality renovations and executing on a renovation strategy will allow you to unlock maximum upside. Upgrades may include a fully remodeled kitchen including top of the line stainless steel appliances, granite countertops, artistic styled flooring, and brand-new cabinetry. The opportunities are endless to realize maximum value in each unit. Rents at the high end of the range result in 126% upside potential. The bottom one-bed/one-bath unit is not current on rent, the top two-bed/one-bath unit is current on rent. Both tenants are month-to-month. There will be no showings or open houses. Please submit offers subject to interior inspection. We politely request that you do not disturb the tenants nor walk around the property.
$000 Monthly Payment
Loan and interest only. Taxes and insurance not included.
Address:120 36th Place Manhattan Beach, CA 90266
Area:142 - Manhattan Bch Sand
Building Area: 1260.0
Number of Buildings: 1
Total Units: 2
Stories Total: 2
Unit 1: 1 Unit•2 Beds•1 Bath•Unfurnished•$1,890 actual rent•$1,890 total rent•$4,500 pro forma
Unit 2: 1 Unit•1 Bed•1 Bath•Unfurnished•$1,540 actual rent•$1,540 total rent•$3,250 pro forma
Garage Spaces: 2.0
Parking Features: Door-Multi, Garage
Parking Total: 2.0
Features / Amenities
Lot Size: 0.03 Acres / 1,352 Sq. Ft.
Lot Features: Back Yard
Directions:West of Manhattan Avenue, South of Rosecrans Avenue, North of 36th Street
Tax and Financial Info
Gross Income: $41,160
Net Operating Income: $17,093
Listing agent / office David Harrington, Matthews Real Estate Investment Services.
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Based on information from California Regional Multiple Listing Service, Inc. as of January 27, 2022. 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, 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. IDX provided by Sierra Interactive.