3901 Highland Avenue, Manhattan Beach, CA 90266 (MLS # PW24057517)
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3901 Highland Ave is a trophy asset situated in the sand section of Manhattan Beach in El Porto. The property currently consists of 14 units with a beautiful courtyard and ocean views from multiple units and the outside decks. The current 9,466 SF building sits on a 6,621 SF lot west of Highland Ave providing easy access to the beach and nearby top-tier retail and restaurants.This property is zoned to permit short-term rentals with the potential to generate $1.8M annual revenue (Estimated STR data obtained from AIRDNA - which is the #1 platform for short-term rental data). It has a market cap of 8.15% operating as an AirBNB and offers any buyer the potential to own one of the hottest short-term rental properties in the Beach Cities. Alternatively, it has the potential to build 3 ADUs to maximize rental income. With its A+ location and upside potential, 3901 Highland Ave is a rare opportunity to add a legacy property to your portfolio at a great price and collect income at a strong CAP Rate for years to come while enjoying long-term appreciation.*Seller Will Entertain a Straight Trade or Trade Plus $$$
| DAYS ON MARKET | 56 | LAST UPDATED | 5/8/2024 |
|---|---|---|---|
| YEAR BUILT | 1961 | COMMUNITY | Manhattan Bch Sand |
| GARAGE SPACES | 13.0 | COUNTY | Los Angeles |
| STATUS | Active | PROPERTY TYPE(S) | Residential Income |
| PRICE HISTORY | |
| Prior to May 8, '24 | $11,750,000 |
|---|---|
| May 8, '24 - Today | $10,995,000 |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | Manhattan Bch Sand |
| BUYER'S BROKERAGE COMPENSATION | 2.250 % |
| GARAGE | Assigned, Yes |
| LOT | 6621 sq ft |
| LOT DESCRIPTION | 11-15 Units/Acre |
| PARKING | Assigned |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 3 |
| VIEW | Yes |
| VIEW DESCRIPTION | Ocean |
| WATER | Public |
| ZONING | MNCNE |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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