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1818 12th Street, Manhattan Beach, California 90266, Manhattan Beach, 90266 - bed, bath

1818 12th Street, Manhattan Beach, California 90266 home-pic-0
ACTIVE$3,000,000
1818 12th Street, Manhattan Beach, California 90266
0Bed
0Bath
3,192Sqft
4,124Lot
Year Built
1957
Close
-
List price
$3M
Original List price
$3M
Price/Sqft
$940
HOA
-
Days on market
-
Sold On
-
MLS number
SB25044919
Home ConditionGood
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $3.00M(55th), sqft - 3192(91th), beds - undefined(50th), baths - undefined(50th).

Prime Investment Opportunity in Manhattan Beach, CA Welcome to this exceptional 5-unit apartment building located in the heart of Manhattan Beach, CA. This property offers a unique investment opportunity in one of the most sought-after coastal communities in Southern California. Property Highlights: Unit Details: Each of the five units boasts approximately 550 sqft (buyer to verify) of well-designed living space, featuring 2 bedrooms and 1 bathroom. Modern Amenities: All units have been tastefully remodeled and come equipped with a stove, dishwasher, microwave, and refrigerator, ensuring a comfortable and convenient living experience for tenants. Parking: Each unit includes one carport space, providing secure and accessible parking. Laundry: The building offers a coin-operated laundry facility, adding an extra layer of convenience for residents. Location Benefits: Award-Winning School District: Manhattan Beach is renowned for its top-rated schools. Beautiful Beaches: Enjoy the stunning beaches just a short distance away, perfect for relaxation and recreation. Vibrant Downtown: The property is conveniently located a short drive to downtown Manhattan Beach, offering a variety of shops, dining options, and entertainment venues. This property is a fantastic opportunity for investors looking to capitalize on the high demand for rental units in Manhattan Beach. Don't miss out on this chance to own a piece of prime real estate in a thriving community.

Price History

Date
Event
Price
05/07/14
Sold
$3,050,000
Condition Rating
Good
The property, built in 1957, features units that have been 'tastefully remodeled' with modern amenities, including updated kitchens with white shaker cabinets, light countertops, and stainless steel appliances (stove, dishwasher, microwave, refrigerator). Bathrooms are also updated with new vanities, fixtures, and clean tiling. New laminate flooring and fresh paint are visible throughout the living areas. While the underlying building structure is older, the extensive interior renovations make the units move-in ready with no immediate updates required, aligning with the 'Good' condition criteria for properties extensively renovated within the last 5-15 years.
Pros & Cons

Pros

Prime Location: Located in Manhattan Beach, a highly desirable and affluent coastal community known for its top-rated schools, beautiful beaches, and vibrant downtown, ensuring strong tenant demand and property appreciation.
Income-Generating Asset: A 5-unit apartment building offers significant rental income potential in a market with high demand for rental units, making it an attractive investment opportunity.
Remodeled Units: All five units have been tastefully remodeled and come equipped with modern appliances (stove, dishwasher, microwave, refrigerator), reducing immediate capital expenditure for a new owner and enhancing tenant appeal.
Tenant Amenities: Each unit includes a dedicated carport space, and the building provides a convenient coin-operated laundry facility, adding value and convenience for residents.
Strong Rental Market: The property benefits from the explicitly stated 'high demand for rental units in Manhattan Beach,' indicating a robust tenant pool and potential for stable occupancy and rental growth.

Cons

Building Age: Constructed in 1957, the property is an older building, which may imply potential for aging infrastructure (e.g., plumbing, electrical, roof) that could require future maintenance or upgrades despite interior remodels.
Unit Size: The units are relatively compact at approximately 550 sqft for a 2-bedroom, 1-bathroom layout, which might limit the tenant pool or rental income potential compared to larger units.
Unit Count Discrepancy: The property description states a '5-unit apartment building,' but the `sub_type` is listed as 'Quadruplex' (4 units), creating an inconsistency that requires clarification and impacts potential income and property classification.

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