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1446 12th Street, Manhattan Beach, California 90266, Manhattan Beach, 90266 - bed, bath

1446 12th Street, Manhattan Beach, California 90266 home-pic-0
ACTIVE$3,300,000
1446 12th Street, Manhattan Beach, California 90266
0Bed
0Bath
4,514Sqft
7,010Lot
Year Built
1966
Close
-
List price
$3.3M
Original List price
$3.5M
Price/Sqft
$731
HOA
-
Days on market
-
Sold On
-
MLS number
PV24224558
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,6 Pros. Rank: price - $3.30M(73th), sqft - 4514(91th), beds - undefined(50th), baths - undefined(50th).

Attention Developers, Investors, Owner Users, and 1031 Exchange Buyers. Don’t miss out on this rare opportunity to acquire a four large units totaling 4,500 square feet comprised of one 3 bedroom / 3 bathroom, two 2 bedroom / 2 bath and one 2 bedroom / one bath unit. For builder, there are already 2 sets of plans, first set to build three large townhome units totaling approximately 3,000 square feet each. Another set of plans to build four townhomes totaling approximately 1,800 to 1,9000 square feet each. An identical parcel is adjacent and available for sale creating the opportunity to combine both sites and develop a larger townhome property on over 14000 square feet of available space. It is a great opportunity for owner user to occupy one of the units and collect rental income from the other 3 units. Current rents are below market.

Nearby schools

7/10
Meadows Avenue Elementary School
Public,•K-5•0.2mi
9/10
Manhattan Beach Middle School
Public,•6-8•0.3mi
9/10
Mira Costa High School
Public,•9-12•1.0mi

Price History

Date
Event
Price
08/07/18
Sold
$2,800,000
Condition Rating
Poor
Built in 1966, this property is nearly 60 years old. The MLS description explicitly highlights its development potential and states that it will likely require 'substantial renovation for continued use or demolition for redevelopment.' The absence of interior photos, especially for an income-generating property, strongly suggests that the kitchens, bathrooms, and other interior features are significantly outdated and in poor condition, not meeting current quality standards. Exterior images show cracked concrete, indicating deferred maintenance. While not entirely unlivable (as it's currently rented), it clearly requires substantial repairs and rehabilitation to be brought to a comfortable or modern standard, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Great Schools: Middle School: Manhattan Beach Middle School (9/10). High School: Mira Costa High School (9/10).
Significant Development Potential: The property comes with two sets of pre-existing plans for townhome development (either three large units at ~3,000 sqft each or four units at ~1,800-1,900 sqft each), significantly de-risking and accelerating a builder's project.
Prime Manhattan Beach Location: Situated in the highly desirable and affluent city of Manhattan Beach, ensuring strong demand, high property values, and excellent long-term appreciation potential.
Income-Generating Quadruplex: Currently configured as a four-unit residential income property (3-bed/3-bath, two 2-bed/2-bath, one 2-bed/1-bath), providing immediate cash flow for investors or owner-users.
Expansion & Assemblage Opportunity: An identical adjacent parcel is available for sale, offering a unique opportunity to combine both sites for a larger, more impactful development on over 14,000 square feet.
Owner-User & Value-Add Potential: Ideal for an owner-user to occupy one unit and collect rental income from the other three, with current below-market rents indicating significant upside potential for increased cash flow upon lease renewals or unit upgrades.

Cons

Age of Existing Structure: Built in 1966, the existing quadruplex is nearly 60 years old, likely requiring substantial renovation for continued use or demolition for redevelopment, adding significant upfront costs.
Below Market Rents: While offering upside, the current below-market rents mean immediate cash flow is not optimized, and achieving market rates will require investment in unit upgrades or tenant turnover, which can be time-consuming.
Extended Market Time & Price Reduction: The property has been on the market since November 2024 with a $200,000 price reduction, suggesting potential market resistance or an initial overvaluation, which may require further price adjustments or a more aggressive marketing strategy.

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