123 28th Street
Manhattan Beach, CA, 90266
$4,995,000
MLS: SB26224071
Beds
—
Baths
—
Sq Ft
4,862
Lot
0.06 ac
Year Built
1937
MLS #
SB26224071
Days on Market
24
Listed
Oct 15, 2026
Description
BUILT BY ONE FAMILY. HELD FOR GENERATIONS. READY FOR ITS NEXT CHAPTER. One block from the sand! Opportunities like this don’t come in waves. This one took nearly 90 years to wash ashore. Built in 1937 and held by one family ever since (per seller), this seven-unit building sits one block from The Strand in the Sand Section of Manhattan Beach. Now offered for the first time, original blueprints included. Why it’s rare: Seven income units on a 2,704 SF corner lot, a Sand Section offering rarely seen. Once it sells, it may not come available again for decades. What you get: Approx. 4,862 SF (Assessor) with three 2-bedroom units, a 3-bedroom unit, two 1-bedroom units and a studio on a FULL lot. Five carport PARKING spaces. In-unit washer/dryer in 5 of 7 units (seller-owned appliances included). Separate electric, gas & water meters. White-water ocean views from four residences. Corner location at 28th St and Manhattan Ave, near The Strand, the Pier and Downtown Manhattan Beach. What it could earn: Approx. $363,000 projected annual gross scheduled rent at renovated market rents (broker estimate), before expenses. Ideal for building a strong investment portfolio or completing a 1031 exchange. Transfer tax: Manhattan Beach is its own city, so the City of Los Angeles’ Measure ULA “Mansion Tax” does not apply under current law. Other transfer taxes may apply. Coastal Zone: Located in the California Coastal Zone. Short-term rental use subject to City licensing, TOT and applicable regulations; buyer to confirm eligibility with the City. Want more land by the sand? The home right next door at 121 28th St, held by the same family since 1926, is also offered separately for the first time in a century. Together, they total approx. 5,400 SF of contiguous Sand Section land. Sold as-is, subject to existing tenancies except units delivered vacant. Buyer to verify all details, including zoning, permitted units, unit configurations, square footages, rental eligibility, taxes and income projections. Income not guaranteed.
Location
Manhattan Beach, Los Angeles County, CA 90266
Open on Google Maps ↗Listed by: Ashley Anderson · eXp Realty of California Inc
Listing information is provided courtesy of the Greater Antelope Valley Association of Realtors (GAVAR) and California Regional MLS (CRMLS). Information is deemed reliable but not guaranteed accurate by the MLS or by Mike Watson. All data, including square footage, lot size, room count, permits, and school assignment, should be independently verified. Properties shown may be listed by brokerages other than Keller Williams Realty. Listings are subject to prior sale, change, or withdrawal without notice.
Payment estimate
$37,830
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $499,500 · Loan: $4,495,500
Average 30-yr fixed rate 7.18% as of Nov 5, 2026 (Freddie Mac PMMS). Adjust to your quote.
- Principal & Interest
- $30,454
- Property tax (1.25%)
- $5,203
- Homeowners insurance
- $300
- Mortgage insurance
- $1,873
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Nov 5, 2026
- 30-year fixed
- 7.18%
- 15-year fixed
- 6.57%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
About the area · Mike Watson
About the Antelope Valley
The Antelope Valley spans Lancaster, Palmdale, Quartz Hill, Rosamond, Lake Los Angeles, California City, Edwards AFB, and the Plant 42 aerospace corridor. Mike Watson is a lifelong AV resident and the #1 producing individual Realtor in the region by transaction count. Every active listing on this site is paired with a free market analysis tailored to the specific street, honest financing guidance (FHA, VA, USDA, CalHFA, conventional, and assumable loans where the financing supports it), and side-by-side comparisons against the rest of the active inventory in your target ZIP.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this Manhattan Beach home with as little as 3.5% down using an FHA loan — roughly $174,825 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
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Local Market Stats
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