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421 3rd Street

421 3rd Street is in the south end of the Sand Section in Manhattan Beach CA. This south facing single family residence is on a full lot (2,700 square feet) 30X90. Priced at $2,299,000 with 3 bedrooms and 3 bathrooms just 3 blocks to the sand and 6 blocks to downtown.

421 was purchased just 18 months ago for $1,809,000 and already has an offer close to the list price. That's a $490,000 increase!

237 Views, 0 Comments.

Inglewood Apartment Building8-9% cash returns are tough to find these days in the apartment marketplace, especially in The South Bay. We were able to find our client this exact type of property in a C location with some upside potential.

This 55 unit apartment building in Inglewood produces over $680,000 in gross income per year. The upside on this building is the redevelopment of the Famous Hollywood Park Casino in the coming 12 months.

The tracks 260 acre racetrack is going to be transformed into 3,000 single family houses, 25 acres of parkland, retail and entertainment district, anchored by a movie theatre, office space and a 300-room hotel. This will drastically improve this area of Los Angeles and thus improving the rents on our building. 

Matt Pernice's client close escrow on this 55 units for $6,150,000 on August 23rd, 2013. If you are looking for income property in South Bay, contact me and I will go out and find the property that you are looking for.

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316 45th Street

316 45th Street is located in the northern part of the Sand Section in Manhattan Beach. Also known as El Porto. This detached townhouse has 4 bedrooms and 4 bathrooms with 2,140 square feet. It was recently purchased in November 2012 for $1,537,000 and now is currently asking $2,375,000. 

3That's almost a million dollar markup in 8 months, not gonna happen in our opinion. The house has terrific views but is location challenged being right up against the Exxon plant.

265 Views, 0 Comments.

3521 Oak Avenue

3521 Oak Avenue is located in the eastern part of the Tree Section in Manhattan Beach. This property has over 1900 square feet with 3 bedrooms and 2 bathrooms. The lot size is standard for the area of 40X116 for a total square footage of 4,600.

This listing agent of this property didn't really spend that much time on it as there is no description of the house. Very strange. The house is on the west side of Oak which is the more desireable size. As houses on the east side of Oak back to commercial and office space.

253 Views, 0 Comments.

Last updated on April 17th, 2014 at 11:07pm PDT

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