3901 Highland Avenue, Manhattan Beach
Manhattan Beach Home For Sale
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 7.56% 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. After potential renovations and conversions, the project is projected to stabilize at a 5.8% CAP Rate for long-term rentals. 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.
Property Details
Additional Information
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- City:
- Manhattan Beach
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- County:
- Los Angeles
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- Zip:
- 90266
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- MLS® #:
- PW24057517
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- Bedrooms:
- 5
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- Bathrooms:
- 5
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- Lot Size:
- 0.15
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- Levels:
- Three Or More
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- Garages:
- 13
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- HOA Dues:
- $
Based on information from California Regional Multiple Listing Service, Inc. as of May 4th, 2024 at 4:55am 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.