Clicky

3901 Highland Avenue

Manhattan Beach, 90266

0 Bd
0 Ba
6,621 Lot
$11,750,000 Current Price
Active Status
33 Days on Market
Mar 22 First Day Active
$11,750,000 Start Price

Description

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.

More

Property Details for 3901 Highland Avenue

Listing Details

Listing Advertised By
Dave Fratello, Edge(310) 243-6299|
mail icon
|
dialog icon
Listing Presented By
Woody Stahl
Listing Brokered By
Lyon Stahl Investment Real Est
Type
Residential Income, Mixed Use
Year Built
1961 (Assessor)
MLS Area
142 - Manhattan Bch Sand

Price and MLS Information

Status
Active | Listing History
MLS Days on Mkt.
33 DOM
Combined DOM*
33
First Date Active
March 22nd, 2024
Current Price
$11,750,000
Orig. List Price
$11,750,000
MLS® #
PW24057517
APN
4137010055
Special
Standard

Home Interior Information

Levels/Stories
Three Or More
Cooling
None
Fireplaces
None

Room Information

Laundry
None

Exterior Information

Lot Description
11-15 Units/Acre
Lot Size (sq. ft.)
6,621
Lot Size (acres)
0.15
Pool
None
Parking Spaces
15
Garage Spaces
13

View, Style & Tour Information

View
Ocean

Utilities Information

Water Source
Public

Additional Information

Zoning
MNCNE
Buyer's Brokerage Fee
2.250
Co-Agent
Brett Lyon
Co-Agent Office
Lyon Stahl Investment Real Estate, Inc.

* Combined DOM (CDOM) counts the total days on market for each time a property is listed, and continues counting until the property is Canceled/Expired for 90 days, no matter which agent or broker lists the property. This figure presents a truer picture of time on market because agents sometimes "re-list" a property after it has been on the market a while to try to “refresh” the Days on Market count, or sellers may change agents when a property has failed to sell.

More

Get directions to this property:

Neighborhood Information

MLS Area
142 - Manhattan Bch Sand
City/State
Manhattan Beach
Zip Code
90266
County
Los Angeles
# of Units
14
More

Listing/Price History

3901 Highland Avenue, Manhattan Beach, (MLS® #PW24057517)

Date Details Price Change
First Day Active $11,750,000
More

Listing Summary

Quick Summary of 3901 Highland Avenue: This home in Manhattan Beach is priced at $11,750,000 . The Mixed Use residence was originally built in 1961 and was listed on March 22nd, 2024 at $11,750,000, showing 33 Days on Market currently. Contact Dave Fratello today for more information or to go see 3901 Highland Avenue.

More

Based on information from California Regional Multiple Listing Service, Inc. as of April 24th, 2024 at 9:30am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.