881 Manhattan Ave is a 4-unit Apartment Building located just backs from the water. This property is
uniquely positioned well below the sold and active comparable sales, while generating over $9,100/month
in income. A rare opportunity to acquire a building performing at a 5.5% + cap rate upon acquisition.
The 4-units are all comprised of a large 2bed/1ba living areas. Approximately 870 Sq ft units. The property
is zoned R3 - with enough lot area to build an additional ADU. The lot offers 4 individual parking spaces
with ample parking for the current tenant profile.
Sold for $1,349,000
Listed by: Invest SLO • Abel Contreras • Contact: 805-709-7143
Bought with: Alain Pinel.02-szc Agents
$1,349,000
881 Manhattan Ave, Grover Beach, CA 93433
8beds
4baths
3,468sqft
Quadruplex
Built in 1962
-- sqft lot
$1,312,800 Zestimate®
$389/sqft
$2,122 Estimated rent
Home value
$1,312,800
$1.21M - $1.43M
$2,122/mo
Zestimate® history
Owner options
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$2,122/mo
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$8,404/mo
Est. payment
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$8,404/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
Abel Contreras DRE #02062620 805-709-7143,
Invest SLO
Bought with:
Lillie Missbrenner, DRE #01711589
Alain Pinel.02-szc Agents
Source: CRMLS,MLS#: PI23138131
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
Rooms
- Room types: Kitchen, Living Room
Heating
- Wall Furnace
Cooling
- None
Appliances
- Laundry: Washer Hookup, Gas Dryer Hookup, Inside
Features
- Balcony
- Flooring: Vinyl
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: 1 Common Wall
Interior area
- Total structure area: 3,468
- Total interior livable area: 3,468 sqft
Property
Parking
- Total spaces: 8
- Parking features: Assigned, Concrete, Covered, Detached Carport, Driveway, Paved
- Carport spaces: 4
- Uncovered spaces: 4
Features
- Levels: Two
- Stories: 2
- Entry location: Ground
- Pool features: None
- Has view: Yes
- View description: Ocean, Peek-A-Boo
- Has water view: Yes
- Water view: Ocean
Lot
- Size: 7,302 Square Feet
- Features: 16-20 Units/Acre, Landscaped, Level, Rectangular Lot, Value In Land
Details
- Parcel number: 060281024
- Zoning: R3
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
- Attached to another structure: Yes
Materials
- Roof: Shingle
Condition
- New construction: No
- Year built: 1962
Utilities & green energy
- Electric: Standard
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Green energy
- Energy efficient items: Insulation, Roof, Windows
- Water conservation: Water-Smart Landscaping
Community & HOA
Community
- Features: Curbs, Gutter(s), Storm Drain(s), Street Lights, Suburban, Sidewalks
- Subdivision: Grover Beach (330)
Location
- Region: Grover Beach
Financial & listing details
- Price per square foot: $389/sqft
- Date on market: 7/26/2023
- Cumulative days on market: 112 days
- Listing terms: Cash,Cash to Existing Loan,Cash to New Loan,Conventional,1031 Exchange,FHA,Owner May Carry
- Total actual rent: 9120
- Tenant pays: Cable TV, Electricity, Gas
Price history
| Date | Event | Price |
|---|---|---|
| 1/16/2024 | Sold | $1,349,000$389/sqft |
Source:  CRMLS #PI23138131 Report a problem | ||
| 12/8/2023 | Pending sale | $1,349,000$389/sqft |
Source: CRMLS #PI23138131 Report a problem | ||
| 11/17/2023 | Contingent | $1,349,000$389/sqft |
Source: CRMLS #PI23138131 Report a problem | ||
| 9/12/2023 | Listed for sale | $1,349,000$389/sqft |
Source: CRMLS #PI23138131 Report a problem | ||
| 8/28/2023 | Contingent | $1,349,000$389/sqft |
Source: CRMLS #PI23138131 Report a problem | ||
| 7/26/2023 | Listed for sale | $1,349,000+98.4%$389/sqft |
Source: CRMLS #PI23138131 Report a problem | ||
| 5/24/2021 | Sold | $680,000$196/sqft |
Source: Agent Provided Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: 93433
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Nearby schools
GreatSchools rating
- 6/10Grover Beach Elementary SchoolGrades: K-6Distance: 0.2 mi
- 6/10Judkins Middle SchoolGrades: 7-8Distance: 2 mi
- 9/10Arroyo Grande High SchoolGrades: 9-12Distance: 2.3 mi
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$1,312,800
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With Zillow Showcase(estimated)
$1,339,056
- California
- San Luis Obispo County
- Grover Beach
- 93433
- 881 Manhattan Ave
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