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Listed by Brett Dalton Lyon • Lyon Stahl Investment Real Estate, Inc.
$5,200,000
Est. payment /mo
7,347 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 7,347 sqft
Price per Sqft $707
MLS Listing ID SB-26071305
Year Built 1974
Lot Size 5,888 Sqft
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
480 Rosecrans Ave offers a rare opportunity to acquire a 7-unit multifamily asset in the highly sought-after Sand Section of Manhattan Beach featuring a strong 5.05% current CAP rate in one of Southern California's most supply-constrained coastal rental markets
The property features a townhome-style configuration with a highly attractive unit mix of (2) 3-bed/3-bath, (4) 2-bed/2-bath, and (1) 1-bed/1-bath units. Six of the units include private outdoor balconies, enhancing livability and supporting strong tenant demand in this beach-oriented submarket.
Since April 2024, ownership has completed approximately $200,000 in capital improvements, including full plumbing and electrical renovations in Units 1, 2, and 7, new heating systems in Units 1, 2, and 4, and a new AC and heating unit in Unit 7. Additional infrastructure upgrades include a 400 AMP electrical service with underground connection, new subpanels in multiple units and the laundry room, and an upgraded main plumbing line connected to the city, providing long-term operational stability and reducing near-term capital expenditure risk.
Exterior improvements include new patios for Units 1, 2, and 3, further enhancing tenant appeal. In addition, the property features a new 356 square foot storage room that is ready for subdivision into five rentable storage units, offering potential for additional ancillary income.
Complemented by on-site laundry facilities and carport parking for each unit, the property delivers strong in-place cash flow with a 5.05% current CAP rate, while benefiting from exceptional long-term appreciation fundamentals driven by Manhattan Beach's demographics, limited multifamily supply, and coastal location.
480 Rosecrans Ave represents a compelling opportunity for investors seeking a stabilized, well-improved coastal asset with durable income and meaningful upside in one of Los Angeles' premier beach communities.
The property features a townhome-style configuration with a highly attractive unit mix of (2) 3-bed/3-bath, (4) 2-bed/2-bath, and (1) 1-bed/1-bath units. Six of the units include private outdoor balconies, enhancing livability and supporting strong tenant demand in this beach-oriented submarket.
Since April 2024, ownership has completed approximately $200,000 in capital improvements, including full plumbing and electrical renovations in Units 1, 2, and 7, new heating systems in Units 1, 2, and 4, and a new AC and heating unit in Unit 7. Additional infrastructure upgrades include a 400 AMP electrical service with underground connection, new subpanels in multiple units and the laundry room, and an upgraded main plumbing line connected to the city, providing long-term operational stability and reducing near-term capital expenditure risk.
Exterior improvements include new patios for Units 1, 2, and 3, further enhancing tenant appeal. In addition, the property features a new 356 square foot storage room that is ready for subdivision into five rentable storage units, offering potential for additional ancillary income.
Complemented by on-site laundry facilities and carport parking for each unit, the property delivers strong in-place cash flow with a 5.05% current CAP rate, while benefiting from exceptional long-term appreciation fundamentals driven by Manhattan Beach's demographics, limited multifamily supply, and coastal location.
480 Rosecrans Ave represents a compelling opportunity for investors seeking a stabilized, well-improved coastal asset with durable income and meaningful upside in one of Los Angeles' premier beach communities.
Location
State CA
County Los Angeles
Area 142 - Manhattan Beach Sand
Interior
Laundry Common Area
Exterior
Parking Features Carport
Pool None
Community Features Biking
Building
Lot Description 6-10 Units/Acre
Sewer Public Sewer
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Naghmeh Keyvani
Broker Associate | License ID: DRE# 02091823
Broker Associate License ID: DRE# 02091823