1216 Highland Avenue $12,750,000

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    1216 Highland Avenue Manhattan Beach, CA 90266

    • 4,093 sq. ft.
    • 0.15 Acres
    • Commercial Sale
    • MLS# SB21054017
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    Views: 704 Days On Market: 194

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    Property Details

    Description Tours

    An absolute gem of a commercial development property! Located in the heart of downtown Manhattan Beach, an upscale beach community 35,000 year- round residents and nearly 4 million annual visitors, an offering of this kind almost never hits the market. Sited 2 short blocks from the renowned Manhattan Beach Pier and pristine two mile long beach, the spacious 6,534 sq. foot double lot offers expansive ocean views and all essential elements to support multiple business operations, including mixed use zoning, ample parking, high visibility on a flat buildable corner lot, city utilities, and much more. Very close distance to award-winning restaurants, quaint cafes, coffee shops and luxury boutiques, this extraordinary legacy property has been owned and managed by the same families for the past 50 years and only recently has come onto the market. Don't miss this rare development opportunity, as it is unlikely to be available again in our lifetime! The virtual picture has been changed by the color of the building to a contemporary color. The original picture is showing the building green with white trim and will remain on the photo roll, the new virtual color is grey beige with black trim and black doors which we are disclosing as the look that can be easily achieved.

    • General Features
      • Buyer Compensation 1.875 %
      • County Or Parish Los Angeles
      • Number Of Buildings 4
      • Number Of Units Leased 4
      • YearBuilt 1946
    • Building Features
      • Cooling Wall/Window Unit(s)
      • Electric Electricity - On Property,Standard
      • Heating Forced Air
      • Laundry Features None
      • Roof Asbestos Shingle
    • Property Features
      • Fencing None
      • Lot Features Corner Lot,Level with Street,Lot 6500-9999,Rectangular Lot,Near Public Transit,Park Nearby,Paved,Utilities - Overhead,Value In Land
      • Lot Size Acres 0.15
      • Topography flat
      • Waterfront Features Beach Access,Ocean Access,Ocean Side of Freeway,Ocean Side Of Highway 1
      • Parking Total 15.00

    Contact

    Daniel Assayag

    Daniel Assayag

    Global Real Estate Advisor

    DRE# 01762501

    Catalina

    Mobile Phone: 310-493-2100

    Neighborhood

    90266 (Manhattan Beach) Demographics

    43 Median Age
    9,038 Population Density (per sq. mile)
    80% College Educated
    $144,868 Estimated Median Income
    9,452 Estimated Total Home Owners
    4,356 Estimated Total Renters
    68% / 32% Estimated Owner / Renter Divide
    3 Estimated Average Household Size
    35,573 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $3,000,000 Median Sales Price
    45 Homes Sold
    49 New On Market

    Average Days on Market

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $12,750,000
        7/12/2021 1:32:27 PM Price Reduced Source: Multiple Listing Service New Value: $12,750,000 -5.56%
        5/13/2021 10:47:42 AM Price Reduced Source: Multiple Listing Service New Value: $13,500,000 -6.9%
        4/19/2021 7:00:51 AM Price Reduced Source: Multiple Listing Service New Value: $14,500,000 -9.32%
        3/15/2021 2:14:00 PM New in Database Source: Multiple Listing Service New Value: $15,990,000

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        **Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Based on information from California Regional Multiple Listing Service, Inc. as of 9/25/2021 10:50:01 PM. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.