12
See all 12 photos
$5,300,000
Est. payment /mo
10 Beds
10 Baths
5,888 Sqft Lot
Price Dropped by $100K
480 Rosecrans Avenue Manhattan Beach, CA 90266
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26071305
Bedrooms 10
Lot Size 5,888 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
480 Rosecrans Ave offers a rare opportunity to acquire a 7-unit multifamily asset in the highly sought-after Sand Section of Manhattan Beach featuring a strong 5.03% current CAP rate in one of Southern Californias most supply-constrained coastal rental markets The property features a townhome-style configuration with a highly attractive unit mix of (2) 3-bed/3-bath, (4) 2-bed/2-bath, and (1) 1-bed/1-bath units. Six of the units include private outdoor balconies, enhancing livability and supporting strong tenant demand in this beach-oriented submarket. Since April 2024, ownership has completed approximately $200,000 in capital improvements, including full plumbing and electrical renovations in Units 1, 2, and 7, new heating systems in Units 1, 2, and 4, and a new AC and heating unit in Unit 7. Additional infrastructure upgrades include a 400 AMP electrical service with underground connection, new subpanels in multiple units and the laundry room, and an upgraded main plumbing line connected to the city, providing long-term operational stability and reducing near-term capital expenditure risk. Exterior improvements include new patios for Units 1, 2, and 3, further enhancing tenant appeal. In addition, the property features a new 356 square foot storage room that is ready for subdivision into five rentable storage units, offering potential for additional ancillary income. Complemented by on-site laundry facilities and carport parking for each unit, the property delivers strong in-place cash flow with a 5.03% current CAP rate, while benefiting from exceptional long-term apprecia
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Between Visa Dr and Bell Ave on Rosecrans Ave
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 4
Level or Stories 4
Others
Senior Community No
Tax ID 4175006032
Acceptable Financing Conventional
Listing Terms Conventional
Listed by Brett Lyon, DRE#01717818 Lyon Stahl Investment Real Estate, Inc.
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