Six-Unit Apartment
For Sale
$4,250,000
1500 Manhattan Ave, Hermosa Beach, CA 90254
Six-unit apartment building with eight on-site parking spaces and studio plus one-, two-, and three-bedroom units.
Property Size4,604 SF
Lot Size0.10 Acres
Days on Market51
Property Features for 1500 Manhattan Ave
General Information
Standard status
Active
Size
4,604 SF
Net Rentable
4,604 SF
Total Parking Spaces
8
Lot size
0.10 Acres
Property subtype
Apartment
Financials
Cap Rate
3.41%
Gross Rent Multiplier
18.45
Units
Unit Mix
1 x 3BR/2BA, 2 x 2BR/1BA, 1 x 1BR/1BA, 2 x studio
Multifamily Units
6
Building Details
Building Size
4,604 SF
Year Built
1962
Listing Agency:
Lyon Stahl Investment Real Estate, Inc.
Listed By:
Cameron Samimi · License #02035763
(310) 259-7556
Source:
2buy
Added: Jul 28
Changed: Sep 4
Last Checked: Sep 15 at 10:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lyon Stahl Investment Real Estate, Inc.
Investment Insights
Based on property information with market context.
1500 Manhattan Avenue is a six-unit apartment building built in 1962 on a 4,506 square foot lot. The property offers approximately 4,604 square feet of rentable building area and a unit mix of one 3-bedroom/2-bath unit, two 2-bedroom/1-bath units, one 1-bedroom/1-bath unit, and two studio units.
The property includes eight on-site parking spaces, consisting of four carport spaces and four tandem spaces. It is located within the California Coastal Zone, offering potential for future short-term rental use subject to buyer verification of all applicable regulations and permitting requirements.
Investment performance metrics provided include a 3.41% current CAP Rate and 18.45 current GRM, along with projections at stabilization of a 4.48% market CAP Rate and 15.80 market GRM. The location is described as being in Hermosa Beach’s Sand Section, within moments of the beach and the dining, shopping, and entertainment along Pier Avenue, with access to Hermosa Beach Pier and The Strand.
The property includes eight on-site parking spaces, consisting of four carport spaces and four tandem spaces. It is located within the California Coastal Zone, offering potential for future short-term rental use subject to buyer verification of all applicable regulations and permitting requirements.
Investment performance metrics provided include a 3.41% current CAP Rate and 18.45 current GRM, along with projections at stabilization of a 4.48% market CAP Rate and 15.80 market GRM. The location is described as being in Hermosa Beach’s Sand Section, within moments of the beach and the dining, shopping, and entertainment along Pier Avenue, with access to Hermosa Beach Pier and The Strand.
Key Highlights
- Six‑unit apartment building with a mix of studio, 1-, 2-, and 3‑bedroom units
- 4,506 square foot lot with approximately 4,604 square feet of rentable building area
- Parking for eight vehicles: four carport spaces and four tandem spaces
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,880
Businesses Nearby
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Business Placement
Demographics for 90254, CA
19,736
Population
10,454
Households
1.9
Avg Household Size
40
Median Age
77%
College-Educated
98%
High-School Grad
1.4 sq mi
ZIP Area
14,097
Density / Sq Mi
$152,019
Median Household Income
$104,385
Median Earnings
$2,812
Median Rent
$2,000,001
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit apartment building with eight on-site parking spaces and studio plus one-, two-, and three-bedroom units.
Where is this apartment building located?
The property is located at 1500 Manhattan Ave Hermosa Beach, CA.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: Six‑unit apartment building with a mix of studio, 1-, 2-, and 3‑bedroom units; 4,506 square foot lot with approximately 4,604 square feet of rentable building area; Parking for eight vehicles: four carport spaces and four tandem spaces
