Manhattan Beach CA - The famous walk streets

Manhattan Beach had a phenomenal year in 2013 for income property sales.

Beach cities summary: The surging housing market of the Beach Cities combined with the limited availability of buildings for sale, made for a competitive buying environment.   Multiple offers were the standard and “all cash” deals the trump card.

Manhattan unit sales statistics for 2013:

  • Available buildings: 1 Property is for sale at $3,150,000.
  • Pending sales: 1 Building is in escrow priced at $999,000.
  • Manhattan Beach sales: 23 Buildings sold in 2013 from $960,000 to $3,800,000.  The average price was $1,915,000.  The average year built was 1953.  None of the MB unit transfers in 2013 was a distressed sale.

Manhattan Beach income property building types (2013 Sales):

  • Duplex – 57%
  • Triplex – 13%
  • Fourplex – 9%
  • 5-8 Units – 17%
  • 8+ Units – 4%

Total unit value sold in Manhattan Beach in 2013: $44,047,000

Average gross rent multiplier for Hermosa Beach 2013: 22.4

Hermosa Beach unit cap rate for 2013 at 75% net income: 3.34%

For more information on available Manhattan Beach units for sale, please give me a call or drop us an email.

– Josh Toering (310) 525-9440

Manhattan Beach income property for sale:

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