SOUTH BAY DIGS | Digital Edition Online

June 16, 2023

DIGS is the premiere luxury real estate lifestyle magazine serving the most affluent neighborhoods in the South Bay and Westside of Los Angeles, California.

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S W E E T D I G S | 2 2 0 8 T H E S T R A N D no shared walls, Dugan points out. Each of the four units has its own unique beach perspective and, unlike most Strand prop- erties, there are four, full-fledged oceanview levels, instead of the usual three. "The units check a lot of those lifestyle boxes that people living on the Strand desire," he adds. In a time when traditional housing, from its concept to look, is being re-organized and re-visioned, this property presents a flexible canvas for living and investing. Or doing both. "The property currently has longtime tenants and a monthly cash flow of $36,000," points out Dugan. One might also utilize the four units for other purposes. Vacation rentals. Living in one unit while renting the others. Or recon- figuring the unit distribution to create an even larger owner's unit while keeping the remaining ones as rentals. He also notes—for those potentially interested in building a portfolio of Strand investment properties—that the seller, an investor with multiple properties along the Strand, would also consider this property as part of a larger Strand acquisition, consisting of additional properties not yet on the market. Back at 2208 The Strand, the agent explains: "There are four separate units, which come out to about $3.6 million per unit. However, if these were sold as condos they'd be a lot higher in value." The Strand being a place where properties can reach the 30-million range, points out Dugan, this property is priced scarcely above lot value. Yet with its uber-plum location, ocean views from every floor and option to serve as an income or an owner-occupied property, it becomes an even more rare find. "I think it's one of those properties that, once sold, buyers on the sideline will think of it as the one that got away," states Dugan. "There just aren't many opportunities like this one." "I think it's one of those properties that, once sold, buyers on the sideline will think of it as the one that got away," states Dugan. Santa Monica Mountains to Palos Verdes. Indoors, an open-plan design encompasses main living spaces: You can dine and gather over ocean views, whether in the kitchen or while lounging in the fireplaced living room. Privacy is another factor. Since each residence occupies its own floor, there are A R C H I T E C T U R E + D E S I G N 68 DIGS.NET | 6.16.23

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