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480 Rosecrans Ave, Manhattan Beach, CA 90266
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480 Rosecrans Ave Manhattan Beach, CA 90266

$4,850,000 Sold Price as of 08/02/2023
  • 15 Beds
  • 16 Baths
  • 7,347 Sq.Ft.
Sold
$4,850,000 Sold Price as of 08/02/2023 Refinance Your Mortgage
Map preview of 480 Rosecrans Ave, Manhattan Beach, CA 90266

Property Overview: 480 Rosecrans Ave Manhattan Beach, CA has 15 bedrooms, 16 bathrooms, 7,347 living square feet and 5,886 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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

Listed by Brett Lyon | BRE #01717818 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by J.Woody Stahl | BRE #01399621 | Lyon Stahl Investment Real Est
Last checked: 28 seconds ago | Last updated: August 2nd, 2023 | Source CRMLS | DOM: 98

Home details

Lot Sq. Ft
5,886
HOA Dues
$0/mo
Year built
1974
Garage
--
Property Type:
Mixed Use
Status
Sold
MLS#
SB22233106
City
Manhattan Beach
County
Los Angeles
Time on Site
542 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Leased Units: 6
  • # of Electric Meters: 7
  • # of Gas Meters: 1
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,100
  • Total Rent: $2,100
  • Pro Forma/Market Rent: $2,100
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $4,000
  • Total Rent: $4,000
  • Pro Forma/Market Rent: $4,200
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,850
  • Total Rent: $3,850
  • Pro Forma/Market Rent: $4,200
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,800
  • Total Rent: $3,800
  • Pro Forma/Market Rent: $4,200
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,100
  • Total Rent: $3,100
  • Pro Forma/Market Rent: $4,200
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,825
  • Total Rent: $1,825
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 4
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $4,200
  • Total Rent: $4,200
  • Pro Forma/Market Rent: $6,000
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $4,000
  • Total Rent: $4,000
  • Pro Forma/Market Rent: $4,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.01%
  • Gross Rent Multiplier: 16.54
  • Gross Scheduled Income: $322,740
  • Net Operating Income: $208,330
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $104,728
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $66,901
  • Trash: $0
  • Gardener: $1,200
  • Insurance: $4,408
  • Maintenance: $9,682
  • Professional Management: $16,137
  • Water/Sewer: $0
  • Other Expenses: $6,400
  • Other Expense Description: Utility

Property Details for 480 Rosecrans Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Carport
Lot Information
  • Lot Features: Sloped Down
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 8
  • Parcel Number: 4175006032
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Private Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: West of the Corner of Bell Ave and Rosecrans Ave
Neighborhood Information
  • Community Features: Biking
View more facts & features

Local Manhattan Beach Agent

Sale History for 480 Rosecrans Ave

Last sold for $4,850,000 on August 2nd, 2023

  • August, 2023

  • Aug 2, 2023

    Date

    Sold

    CRMLS: SB22233106

    $4,850,000

    Price

  • Nov 1, 2022

    Date

    Active

    CRMLS: SB22233106

    $5,850,000

    Price

  • April, 2022

  • Apr 15, 2022

    Date

    Price Change

    CRMLS: SB21263452

    $5,995,000

    Price

  • Jan 5, 2022

    Date

    Active

    CRMLS: SB21263452

    $6,200,000

    Price

  • Listing provided courtesy of CRMLS

    Amazing investment opportunity or 1031 Exchange. This beautiful and updated 8-unit ocean view apartment building in the Sand Section of Manhattan Beach! Many recent improvements and upgrades to these units! Most units have been completely redone with hardwood flooring, new kitchen and bathroom cabinetry, new appliances, new plumbing, new paint plus much more. These units sparkle!! Unit make up is 5- 2 bed/2 Bath units, one 4bed/4bath unit, one 1bed/1bath and one single with full kitchen and bath. The 1bed/1bath unit and one of the 2 bed/2 bath units were "split" from an original 4bed/3 bath unit. The single was built out in permitted space originally for storage. (We are told, broker has not confirmed-BTV!) The property is situated on an over-sized street to alley double lot with 10 covered parking in open garages, 2 open carports and additional tandem parking for a total of 18 possible spaces if parked correctly!! Truly an extraordinary opportunity with tons of potential in income as well as future upgrade potential! SEE ATTACHMENTS FOR FULL FINANCIALS

  • April, 2019

  • Apr 16, 2019

    Date

    Sold

    CRMLS: SB19032024

    $5,500,000

    Price

  • Mar 11, 2019

    Date

    Price Change

    CRMLS: SB19032024

    $5,600,000

    Price

  • Feb 11, 2019

    Date

    Active

    CRMLS: SB19032024

    $5,950,000

    Price

  • Listing provided courtesy of CRMLS

    A rare opportunity for this beautiful remodeled 8-unit (2 non-conforming) ocean view apartment building in the Sand Section of Manhattan Beach! Over $200K in improvements! Most units have been completely redone with hardwood flooring, new kitchen and bathroom cabinetry, new appliances, new plumbing, new paint plus much more. These units sparkle!! Unit make up is 5 2 bedrooms/2 Bathroom units, one 4bed/4ba unit, one 1bed/1ba and one single with full kitchen and bath. The property is situated on an over-sized street to alley double lot with 10 covered parking spaces and additional tandem parking for a total of 18 parking spaces!! Truly an extraordinary opportunity with tons of potential in income as well as future building opportunities!

  • April, 2019

  • Apr 9, 2019

    Date

    Sold (Public Records)

    Public Records

    $2,750,000

    Price

  • February, 2019

  • Feb 1, 2019

    Date

    Canceled

    CRMLS: SB19017437

    $6,500,000

    Price

  • Jan 24, 2019

    Date

    Active

    CRMLS: SB19017437

    $6,500,000

    Price

  • Listing provided courtesy of CRMLS

    A rare opportunity for this beautiful remodeled 8-unit (2 non-conforming) ocean view apartment building in the Sand Section of Manhattan Beach! Over $200K in improvements! Most units have been completely redone with hardwood flooring, new kitchen and bathroom cabinetry, new appliances, new plumbing, new paint plus much more. These units sparkle!! Unit make up is 5 2 bedrooms/2 Bathroom units, one 4bed/4ba unit, one 1bed/1ba and one single with full kitchen and bath. The property is situated on an over-sized street to alley double lot with 10 covered parking spaces and additional tandem parking for a total of 18 parking spaces!! Truly an extraordinary opportunity with tons of potential in income as well as future building opportunities!

  • April, 2016

  • Apr 19, 2016

    Date

    Sold (Public Records)

    Public Records

    $5,300,000

    Price

  • February, 2016

  • Feb 2, 2016

    Date

    Price Change

    CRMLS: SB16021601

    $5,300,000

    Price

  • Listing provided courtesy of CRMLS

    Sought after 6 unit apartment building located in the Sand Section of Manhattan Beach. The building is situated on a double lot (street to alley) with small ocean views from some of the townhouse style units. The building features vinyl windows, wood-beamed ceilings, 10 carports (+ extra tandem spaces), 4 parking spaces, and 6 units have large private balconies. The unit mix consists of: (1) 4 bedroom 4 bath unit, (1) 3 bedroom 3 bath unit, (4) 2 bedroom 2 bath unit, and (1) non-conforming 1 bedroom one bath unit. There is plenty of rent upside (market GRM 16.45) with interior unit remodel.

Show More

Tax History for 480 Rosecrans Ave

Assessed Value (2020): $5,610,570
Year Land Value Improved Value Assessed Value
2020 $3,355,800 $2,254,770 $5,610,570

Home Value Compared to the Market

This property vs the competition

480 Rosecrans Ave sold on August 2, 2023 for 127.68% higher than the current median sold price for the city of Manhattan Beach which is $2,349,750. The median sold price per/sqft for Manhattan Beach is $1,284 and this home is sold at $728.19 per/sqft which puts the price per square foot 43.29% lower than the current median sale per square foot for the city of Manhattan Beach.

About 480 Rosecrans Ave

Detailed summary of property

480 Rosecrans Ave is a mixed use that recently sold in Manhattan Beach, CA 90266. This mixed use property offered 15 bedrooms, 16 bathrooms, roughly 7,347 living square feet, and sits on an approximately 5,886 square foot lot. 480 Rosecrans Ave was first listed on ArdentRealEstateGroup.com on November 1, 2022. The homeowner sold the property for $4,850,000. Home in Manhattan Beach are selling for a median price of $2,349,750 and a median price per square foot of $1,284. Based on Ardent Real Estate Group's Manhattan Beach Market Data, this home is sold 127.68% higher than the current median priced home. Local homes that are currently for sale include 133 S Melrose St, 2658 Santa Ana Ave and 304 Myrtle St. While the average home in Manhattan Beach, CA is selling in 104 days, 480 Rosecrans Ave has a days on market of 98 days. There are currently 92 homes for sale in the Manhattan Beach real estate market and 78 of them are single family homes while 0 of them are condos and 14 are townhomes. For more information on this home for sale at 480 Rosecrans Ave Manhattan Beach, CA 90266 contact Ardent Real Estate Group and we will put you in touch with one of our Manhattan Beach agents.

Public Facts for 480 Rosecrans Ave

Public county record property details
Beds
12
Baths
13
Year built
1974
Sq. Ft.
6,738
Lot Size
5,883
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
9,10
APN
4175-006-032

The source for these homes facts are from public records.

90266 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$4,295,000
Median List Price/Sq.Ft.
$1,492
Median Sold Price
$2,349,750
Median Sold Price/Sq.Ft.
$1,284
Total Inventory
92
Median Sale to List Price %
94.37%
Avg Days on Market
48
Loan Type
Conventional (30%), FHA (0%), VA (0%), Cash (40%), Other (30%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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