The El Porto Building, located at 312 Rosecrans Avenue in Manhattan Beach, California, has sold for $9.21 million. Kidder Mathews’ Tanel Harunzade, Darrell Levonian, and Brittney McCarthy represented the buyer, 6030 Wilshire, LLC. Kidder Mathews’ Ryan Sharpe represented the seller, Chang El Porto, LLC.
The building is a fixture in the affluent neighborhood, just four blocks from the sand and known for its unique architecture, clock tower, and Spanish-style clay roofing. It has a diverse tenant and use mix, with commercial on the ground floor and seven upper floor apartments with panoramic ocean views. Built in 1953, renovated in 2000, and updated early this year, the building comprises approximately 10,692 square feet. There are 18 tenants, including three restaurants and a hot yoga studio that opened in July of this year.
“The El Porto Building is a rare mixed-use property situated on one of the most desirable and visible signalized hard corners in the city,” said Harunzade. “It has been in the same family for approximately 30 years and is an iconic property in the community.”
About Kidder Mathews
Kidder Mathews is the largest independent commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, asset services, consulting, project and construction management, and debt & equity finance services for all property types. The firm performs $8 billion in transactions, manages 64 million square feet of space, and conducts over 1,800 appraisals annually. For more information, visit kidder.com.