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480 Rosecrans Avenue

Manhattan Beach, CA 90266

0 Bd
0 Ba
5,886 Lot
$4,850,000 SOLD Price | Closed 8/2/23
Closed Status
98 Days on Market
Nov 1 First Day Active
$5,850,000 Start Price

Description

480 Rosecrans Ave is a rare 8-unit building in the sand section of Manhattan Beach. The 8,486 SF building features (1) 4-Bed/4-Bath, (5) 2-Bed/2-Bath, (1) 1-Bed/1-Bath, and (1) Studio Units. The 1-Bed/1-Bath unit is non-conforming permit pending and the studio unit is non conforming. The building sits on a 5,886 SF lot and includes an on-site laundry space and carport spaces for each unit. The building boasts a 4.01% Cap with a 5.11% market cap and generates over $26K per month.

Located less than a half mile from the beach, 480 Rosecrans Ave is a trophy asset and rare opportunity to own commercial real estate in the coveted Beach Cities submarket.

Attractive 5.16% financing available at 41% LTV. First 3 years are interest only; 30 year amortization thereafter. Full Loan Quote included in the Offering Memorandum

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Property Details for 480 Rosecrans Avenue

Listing Details

Listing Advertised By
Dave Fratello, Edge(310) 243-6299|
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Listing Presented By
Brett Lyon
Listing Brokered By
Lyon Stahl Investment Real Estate, Inc.
Type
Residential Income, Mixed Use
Year Built
1974 (Assessor)
MLS Area
142 - Manhattan Bch Sand

Price and MLS Information

Status
Closed | Listing History
MLS Days on Mkt.
98 DOM
Combined DOM*
98
First Date Active
November 1st, 2022
Closing Date
August 2nd, 2023
Sold Price
$4,850,000
Orig. List Price
$5,850,000
MLS® #
SB22233106
APN
4175006032
Special
Standard

Room Information

Laundry
CommonArea

Exterior Information

Lot Description
Sloped Down
Lot Size (sq. ft.)
5,886
Lot Size (acres)
0.14
Pool
None
Parking Spaces
8

Utilities Information

Water Source
Public

Additional Information

Zoning
MNRM-D1
Buyer's Brokerage Fee
2.500
Co-Agent
J.Woody Stahl
Co-Agent Office
Lyon Stahl Investment Real Est

* 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.

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Neighborhood Information

MLS Area
142 - Manhattan Bch Sand
City/State
Manhattan Beach
Zip Code
90266
County
Los Angeles
# of Units
8
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Listing/Price History

480 Rosecrans Avenue, Manhattan Beach, CA (MLS® #SB22233106)

Date Details Price Change
Closed $4,850,000
Pending
Active Under Contract (from Active)
Price Reduced (from $5,495,000) $5,350,000 $145,000 (2.64%)
Price Reduced $5,495,000 $355,000 (6.07%)
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Listing Summary

Quick Summary of 480 Rosecrans Avenue: This home in Manhattan Beach is priced at $5,350,000 . The Mixed Use residence was originally built in 1974 and was listed on November 1st, 2022 at $5,850,000, showing 98 Days on Market currently. Contact Dave Fratello today for more information or to go see 480 Rosecrans Avenue.

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Based on information from California Regional Multiple Listing Service, Inc. as of April 18th, 2024 at 12:55am 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.