5,889 Sqft Lot
5,889 Sqft Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26071305
HOA Y/N No
Year Built 1974
Lot Size 5,889 Sqft
Property Sub-Type Apartment
Property Description
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 4.85% 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 Bch Sand
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Carport
Carport Spaces 8
Pool None
Community Features Biking
Total Parking Spaces 8
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 4
Entry Level Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 4175006032
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Nearby Locations
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Scott Greenspan
Broker Owner