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Listed by Jonathan Coleman • Beach City Brokers
$ 3,850,000
Est. payment | /mo
8,753 Sqft Lot
$ 3,850,000
Est. payment | /mo
8,753 Sqft Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB-26012312
Lot Size 8,753 Sqft
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Special opportunity in the heart of Manhattan Beach. This is a triple corner development site offering 8,753 sq. ft. with approximately 79 feet of frontage and 107 feet of depth. Like going back in time, 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. Subject to buyer verification and City of Manhattan Beach approval. The property currently consists of five units with long term tenants, in a combination of retail and office space, offering excellent visibility and access. This prime coastal location is comprised of 943 & 947 Manhattan Beach Blvd. and 1137 Pine Ave. Please!!! Do not walk the property or disturb the tenants who are running their business daily
Location
State CA
County Los Angeles
Area 143 - Manhattan Beach Tree
Zoning MNCL
Exterior
Community Features Curbs, Sidewalks, Street Lights, Suburban
Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected, Phone Available
View Y/N No
View None
Building
Lot Description Corner Lot