947 Manhattan Bch Blvd Blvd Manhattan Beach, CA 90266

This is a special opportunity to acquire a triple corner development site in the heart of Manhattan Beach, California. The site offers 8,753 square feet with approximately 79 feet of frontage and 107 feet of depth. The property currently consists of five units with long-term tenants, in a combination of retail and office space, offering excellent visibility and access. Reminiscent of vintage Old Hollywood boutique-style offices and retail spaces, there are two one-story buildings positioned on either side of a lush central garden courtyard, with a 13-car parking lot located at the rear. There are two lots fronting Manhattan Beach Blvd to the corner, which have the two buildings and the garden area and a third lot off of Pine Ave which is the large parking lot which runs behind the two buildings. The property is commercially zoned and located within a City of Manhattan Beach overlay district that permits residential development, so it presents a compelling redevelopment opportunity. One potential configuration includes a single-family residence on the rear Pine Avenue lot, with four townhomes on the two Manhattan Beach Boulevard front lots. According to City guidelines the city told me that condominium development may only require approximately 850 sq. ft. of land per unit, so if the parcels were merged, a higher-density 10-unit condominium project may be possible. Additional development alternatives may include mixed-use projects or continued commercial use. The property is located at 943 & 947 Manhattan Beach Blvd. and 1137 Pine Ave.