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931 1st St in Manhattan Beach, California, is the site of a soon-to-be-developed luxury single-family home. The project offers a unique opportunity for investors interested in owning equity shares through the RealtyMogul investment platform.
The sponsor of the offering, TriWest Development, has city-approved plans for developing a three-story, six-bedroom, and eight-bath home with 7,750 square feet of modern farmhouse design. The site combines ocean views with in-house amenities, including a golf simulator, wine cellar, media room, pool, cabana, four-car garage, and a basement. Aside from the space and location, the amenities are expected to help attract a buyer following construction.
The “Hill” section of Manhattan Beach, where the property sits, presents strong demographics, including an average household income of $280,470. According to Niche, the local school system ranked in the top 1.5% of best-performing school districts in the country.
Recent comparable sales put the average price per square foot at $2,309 for luxury homes of this size in the Manhattan Beach market, which suggests a potential sale price of roughly $17.9 million for 931 1st St.
Based on the group’s experience within the market, TriWest expects to develop and sell the property within a 20-month time frame, making potential investor distributions expected by April 2026.
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Minimum investment: $35,000
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Target investment term: 20 months
View offering details
TriWest Development LLC is the largest homebuilder in the Manhattan and Hermosa Beach market, providing extensive experience to the investment. The real estate developer currently has 18 projects under construction in Manhattan Beach and has amassed a track record exceeding 200 properties successfully purchased, constructed, and sold at a total asset value greater than $1.5B.
Image courtesy of RealtyMogul
This article Luxury Real Estate Developer Opens Latest Offering Up To Retail Investors originally appeared on Benzinga.com
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