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Key Details
Sold Price $4,850,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 7,347 sqft
Price per Sqft $660
MLS Listing ID CRSB22233106
Sold Date 08/02/23
HOA Y/N No
Year Built 1974
Lot Size 5,886 Sqft
Acres 0.14
Property 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
Location
State CA
County Los Angeles
Area Manhattan Bch Sand
Zoning MNRM
Interior
Fireplace No
Laundry Other
Building
Lot Description Sloped Down
Sewer Private Sewer
Water Public
New Construction No
Others
Tax ID 4175006032
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© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with WoodyStahl