3901 Highland Avenue
Manhattan Beach, CA 90266
- – beds
- – baths
- – sqft
- 6,621 sqft lot
- 1961 build
- – on site
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 7.56% 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. After potential renovations and conversions, the project is projected to stabilize at a 5.8% CAP Rate for long-term rentals. 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.
Listed By CRMLS_CA / Woody Stahl / Lyon Stahl Investment Real Est / woody@lyonstahl.com
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Last updated Apr 23, 2024
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MLS# PW24057517 —
Walk Score®
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Bike Score®
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Soundscore™
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Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
3/22/24
Mar 22, 2024
|
Listed / Active | CRMLS_CA | $11,750,000 |