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Coastal MultiFamily Property at 442 Manitoba Street Listed by Mike Matthias

Coastal MultiFamily Property at 442 Manitoba Street Listed by Mike Matthias
FOR SALE
View more

$2,129,000

442 Manitoba Street, Playa Del Rey, CA 90293

3,120 SF

Square Feet

$682

PPSF

2

Units

1.0M

PPU

Property Description

Units

2 — PPU: 1.0M

Just two blocks from the ocean, this property offers an unbeatable location close to the beach, downtown Playa Del Rey, and a variety of popular local restaurants. The front unit, currently vacant, is ideal for owner occupancy includes high-end custom finishes. Additionally, its 3-bed/3-bath layout makes the unit perfect for families. Both units were refreshed in 2015, with new water heaters, lighting fixtures, roofing, and central heating/air conditioning. Each unit comes with stainless steel appliances, in-unit washers/dryers, and private outdoor spaces. The property also features a detached two-car garage for each unit, with the potential to convert into an additional dwelling unit (ADU) for additional passive income. The quiet neighborhood also has a close-knit feel with a strong sense of community making it a hidden gem within Los Angeles. A brand new 31-acre park, Lulu's Place, is currently under construction just blocks away, featuring tennis courts, soccer fields, playgrounds, a dog park, and scenic walking paths. The property is also conveniently located near major aerospace employers in El Segundo and Hawthorne, as well as the tech hub of Silicon Beach, Culver City, and Marina Del Rey.


Property Details

Asset Type

MultiFamily

Year Built

1962

Zoning

LAR2

Lot Size

5,003 SF

Neighborhood

Playa Del Rey

Submarket

Playa Del Rey

ZIP

90293

Renovated

2015

Listing Type

sale

Net Operating Income (NOI)

$0

Debt Service Coverage Ratio (DSCR)

0.00x

Cap Rate

0.00%

Cash Flow (Annual)

-$121,111

Cash-on-Cash Return

-22.75%

Monthly Debt Service

$10,093

Annual Debt Service

$121,111

View on Map

Address

442 Manitoba Street

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Playa Del Rey MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale

No investors found in this market.

Contact the Listing Team

Mike Matthias

Mike Matthias

Real Estate Agent

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Mike Matthias

Mike Matthias

Real Estate Agent

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