1450 12th Street, Manhattan Beach, California 90266, Manhattan Beach, 90266 - bed, bath

1450 12th Street, Manhattan Beach, California 90266 home-pic-0
ACTIVE$3,400,000
1450 12th Street, Manhattan Beach, California 90266
0Bed
0Bath
4,514Sqft
7,014Lot
Year Built
1966
Close
-
List price
$3.4M
Original List price
$3.5M
Price/Sqft
$753
HOA
-
Days on market
-
Sold On
-
MLS number
PV24224581
Home ConditionPoor
Features
View-

About this home

We found 2 Cons,3 Pros. Rank: price - $3.40M(73th), sqft - 4514(91th), beds - undefined(50th), baths - undefined(50th).

Attention Developers, Investors, Owner Users, and 1031 Exchange Buyers. Don’t miss out on this rare opportunity to acquire a 7,000 square foot lot located in Manhattan Beach. For the investor, the property currently offers four large units totaling 4,500 square feet comprised of one 3 bedroom / 3 bathroom unit, two 2 bedroom / 2 bath units and one 2 bedroom / one bath unit. For builder, there are already two sets of plans; first set to build three large townhome units totaling approximately 3,000 square feet each; or the another set of plans would build four townhomes totaling approximately 1,800 to 1,9000 square feet each. An identical parcel is adjacent and available for sale creating the opportunity to combine both sites and develop a larger townhome property on over 14000 square feet of available space.

Nearby schools

7/10
Meadows Avenue Elementary School
Public,K-50.2mi
9/10
Manhattan Beach Middle School
Public,6-80.3mi
9/10
Mira Costa High School
Public,9-121.0mi
Condition Rating
Poor

The property was built in 1966 and the description focuses on its potential for redevelopment, suggesting the existing structure is outdated. The images show the exterior of the building, which appears aged. Given the age and the emphasis on redevelopment, it's likely the interior, including kitchens and bathrooms, requires substantial repairs and rehabilitation. It is unlikely to have had major renovations in the past 30 years.
Pros & Cons

Pros

Development Potential: The 7,000 sqft lot offers significant development potential with existing plans for multiple townhomes, appealing to builders and investors.
Income Property: Currently configured as a quadruplex with four units, providing immediate rental income for investors.
Prime Location: Located in Manhattan Beach, a highly desirable area, increasing the property's long-term value and attractiveness.

Cons

Price Reduction: The property has experienced a price reduction, which may indicate challenges in the current market or potential issues with the property.
Age of Property: Built in 1966, the existing structure may require updates or renovations to meet modern standards and preferences.

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