In a groundbreaking move for the real estate market, a stunning 14-unit multifamily property located in the famed El Porto neighborhood of Manhattan Beach has recently been listed on the private market for $12 million. What makes this listing particularly notable is that the seller is open to accepting Bitcoin or USDC for payment, potentially setting a record for the largest real estate transaction in California closed using cryptocurrency. This unique offering is being exclusively represented by Elaine McIntyre Kim and Tom Watkins, seasoned commercial real estate agents from Centennial Advisers. The property, situated at 3901 Highland Avenue, is fully approved for short-term rentals (STRs) and boasts a proven income stream, making it an enticing investment opportunity.
The El Porto area is renowned not only for its spectacular beaches but also for its rich local dining scene. With celebrity-owned homes surrounding it and situated just a couple of blocks from the beach, this property represents a rare opportunity in one of the most supply-constrained coastal submarkets in the United States. The strategic marketing of this property is aimed at high-net-worth investors, particularly those looking to diversify their portfolios with cryptocurrency.
Facilitating the crypto transaction will be Guaranty Escrow, the only U.S. escrow company that is authorized by BitGo, a trusted custodian for numerous significant financial institutions and sovereign wealth funds. The escrow services will afford buyers the convenience of funding their escrow accounts with digital assets while locking in USD conversions at the time of funding, providing an added layer of security and ease of transactions.
Elaine McIntyre Kim aptly comments, "This isn't just a listing—it's a milestone. We’re merging lifestyle real estate with next-gen capital. Crypto buyers keen on investing their wealth in tangible assets won't discover a more appealing marketplace than El Porto."
Property Highlights
- - Unit Breakdown: 14 total units, comprising 12 legal units and 2 non-conforming units.
- - Prime Location: Only two blocks from the beach, easily accessible to popular dining spots like Fishbar and Local Yolk, as well as nearby yoga studios.
- - Zoning: CNE/R-2 with potential for Accessory Dwelling Units (ADUs).
- - Rental Potential: With existing Airbnb units and others rented long-term, this property offers multiple revenue streams.
- - Performance: The short-term rental performance surpasses that of inland hotels, making it an attractive investment.
- - Accessibility: The property is in close proximity to LAX and situated among multi-million-dollar celebrity estates.
As 2025 unfolds, short-term rental investments are gaining traction, further incentivized by new tax laws providing 100% bonus depreciation on eligible assets and accelerated depreciation for furniture, fixtures, and equipment. This has positioned STRs as one of the most tax-efficient real estate strategies available this year.
About Centennial Advisers
Centennial Advisers stands out as a comprehensive commercial real estate brokerage dedicated to serving Southern California. The firm combines in-depth local market knowledge with a national reach, maximizing value for investors, owners, and operators alike. As the landscape of real estate continues to evolve, particularly in the realm of cryptocurrency, organizations like Centennial Advisers play a pivotal role in navigating these new waters.