2208 The Strand

Manhattan Beach, CA 90266 View Map $14,350,000 Schedule a Tour
Sq.Ft. Lot3,512
Year1972
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Customer Support

(310) 982-2107
 
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Status: Active
Property Type:Quadruplex
MLS #:SB23091731
On Site:10 Days
Lot Size:3,512 Sq. Ft.
County:Los Angeles

Listing Agent/Office

Agent:Shawn Dugan
Office:Strand Hill Properties
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.

Mortgage Calculator

$000 Monthly Payment
Loan and interest only.

Detailed Maps

Community Information

Address:2208 The Strand, Manhattan Beach, CA 90266
Zip Code:90266

Architecture

Year Built:1972
Stories:4
Building Area: 5193.0
Number of Buildings: 1
Total Units: 4
Stories Total: 4
Unit 1: 1 Unit • 2 Beds • 2 Baths • Furnished • $9,195 actual rent • $9,195 total rent • $12,750 pro forma
Unit 2: 1 Unit • 2 Beds • 2 Baths • Furnished • $8,995 actual rent • $8,995 total rent • $12,750 pro forma
Unit 3: 1 Unit • 3 Beds • 2 Baths • Unfurnished • $9,295 actual rent • $9,295 total rent • $12,750 pro forma
Unit 4: 1 Unit • 2 Beds • 2 Baths • Unfurnished • $8,995 actual rent • $8,995 total rent • $12,750 pro forma
Roof: Flat
Garage Spaces: 9.0

Features / Amenities

Interior Features: Balcony
Appliances: Gas Cooktop, Gas Oven, Water Heater
Fireplace Features: Living Room
Laundry: Common Area, In Garage
Entry Level: 1
Entry Location: 1
Common Walls: No Common Walls
Parking Features: Garage
Parking Total: 9.0
Heating: Wall Furnace

Rooms

Living Room

Property Features

Lot Size: 0.08 Acres / 3,512 Sq. Ft.
Lot Features: Street Level
Waterfront: Beach Access, Beach Front, Ocean Side Of Freeway, Ocean Side Of Highway
View: Catalina, Coastline, Ocean, Panoramic, Pier, Water
Sewer: Public Sewer
Water: Public
Zoning:MNRH
Directions:From Highland Ave go west on Marine and right on Ocean Dr.

Tax and Financial Info

Cap Rate: 1.79
Gross Income: $438,348
Gross Scheduled Income: $438,348
Net Operating Income: $256,901
Cable TV Expense: $5,412
Electric Expense: $1,608
Fuel Expense: $648
Insurance Expense: $5,777
Maintenance Expense: $3,888
New Taxes Expense: $161,436
Trash Expense: $960

Schools

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2208 The Strand Manhattan Beach,  CA 90266
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2208 The Strand Manhattan Beach, CA 90266
 
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Based on information from California Regional Multiple Listing Service, Inc. as of June 3, 2023. 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.