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 8.15% 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 to maximize rental income.
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.
*Seller Will Entertain a Straight Trade or Trade Plus $$$
Property Type :
Residential Income
County :
Los Angeles
Style :
Residential Income
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ByOwner last updated this listing 05/17/2024 @ 02:36
MLS: PW24057517
LISTED BY: Woody Stahl, Lyon Stahl Investment Real Est
SOURCE: CRMLS
Buyer Agency Compensation: 2.25%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
