3608 The Strand, Manhattan Beach, CA 90266
- $28,900,000
- List Price
- $28,900,000
- Price Change
- ▼ $100,000 1679634677
- Status
- ACTIVE
- MLS#
- SB22256236
- Year Built
- 1952
- Lot Size
- 9,334
- Acres
- 0.21
- Lot Location
- SprinklersNone
- Days on Market
- 61
- Property Type
- Multifamily
- Style
- Modern
- Property Sub Type
- Mixed Use
- Stories
- One Level
Property Description
ONE OF A KIND AND IRREPLACEABLE 11 UNIT OCEAN FRONT BEACH CLUB SITUATED ON 2-2/3 BEACH FRONT LOTS 88 FEET WIDE X 105 FEET DEEP, OFFERS SPECTACULAR WHITE SAND, WHITE WATER VIEWS OF THE OCEAN AND COASTLINE FROM PALOS VERDES TO MALIBU. PROPERTY COMES WITH (TIC) ENTITLEMENTS FROM THE DEPARTMENT OF REAL ESTATE WHICH CONVEYS THE RIGHT TO SELL EACH INDIVIDUAL UNIT SEPARATELY. TENANT IN COMMON (TIC) OWNERSHIP, POPULAR IN SAN FRANCISCO, GAINING POPULARITY IN LOS ANGELES, CONVEYS FOR EACH DWELLING AN UNDIVIDED PROPERTY CO-OWNERSHIP INTEREST, ALONG WITH THE EXCLUSIVE RIGHT TO OCCUPY AND THE RIGHT TO SELL. EXCEPTIONAL UPSIDE POTENTIAL WITH ESTIMATED RENOVATION COSTS FOR EXTERIOR $185,000/UNIT, INTERIOR $195,000/UNIT. PROFORMA INCOME $70,500/MO., $846,000/YEAR ESTIMATED PROPERTY VALUE AFTER RENOVATION $38,000,000. SELLER FINANCING AVAILABLE. SELLER WILL CONSIDER SALE OF 50% PROPERTY INTEREST. PLEASE REFER TO PRIVATE REMARKS AND CALL LISTING AGENT FOR ADDITIONAL INFORMATION.
Additional Information
- Association Amenities
- Other
- Pool Description
- None
- Cooling Description
- None
- View
- Coastline, Ocean, Water
- Exterior Construction
- Stucco
- Roof
- Rolled/Hot Mop, Tar/Gravel
- Garage Spaces Total
- 18
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 11
- Gross Scheduled Income
- $86,940
- Operating Expense
- 393995
Listing courtesy of Listing Agent: Robert Schumann (realestatewest@verizon.net) from Listing Office: Real Estate West, Inc..
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . 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.