1505 Nelson Avenue
About This Property
Looking for space, light, and location with room to make it your own? This nearly 3400 sq. ft. home on an oversized 7,500 sq. ft. lot (50 x 150) in the heart of Manhattan Beach's coveted Mira Costa neighborhood (aka The Knolls) is the opportunity you've been waiting for-but rarely find at this price point.
Built in the '90s and lovingly maintained, this home offers all the right ingredients: an expansive floor plan, excellent natural light, and unbeatable lot size. While the finishes reflect its era, the layout is timeless-and the potential? Off the charts. Whether you're dreaming of a design refresh, modern upgrades, or simply maximizing the space as-is, this property gives you the freedom (and the footprint) to bring your vision to life.
Inside, the main level unfolds with high ceilings, hardwood floors, and wide-open living and dining areas made for gathering. The family room flows into a spacious kitchen with an island, gas range, marble counters, and generous cabinetry-plus a cozy living room with fireplace and wet bar, and even a separate office for quiet productivity.
Upstairs, four bedrooms, two full baths, and a large laundry room offer comfort and flexibility. The primary suite is oversized and serene, with a walk-in closet and a spa-inspired ensuite featuring a Japanese-style wet room with marble shower and soaking tub.
Out back, the lot size really shines-offering a private, green-lined yard with plenty of room to play, entertain, or add your dream outdoor setup. A two-car garage with bonus storage seals the deal.
The home is ready for your updates-but that's exactly what makes this such a rare value in this neighborhood. Homes of similar size on smaller lots have sold for more, making this not just a smart move-but a strategic one.
Bring your style, your ideas, and your vision-because this one's got the bones, the lot, and the location. Let's just say... this could be the best "before-and-after" story in the South Bay.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jan 30, 2026 | Sold | ||
| Sold | |||
| Dec 3, 2025 | In contract | - | |
| In contract | |||
| Oct 16, 2025 | Listed by eXp Realty of California, Inc | $3,200,000 | |
| Listed by eXp Realty of California, Inc | |||
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About Eastside Manhattan Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017