A multifamily property in Manhattan Beach’s El Porto neighborhood has just come on the private market with a $12 million price tag, and a crypto twist. The seller is accepting payment in either Bitcoin or USDC, a move that could make it the largest real estate sale in California history completed using cryptocurrency. The 14-unit building is approved for short-term rental and is located at 3901 Highland Avenue. It is represented exclusively by Elaine McIntyre Kim and Tom Watkins of Centennial Advisers. It’s already producing income as an Airbnb and sits just steps from the sand, dining, and some of the area’s most desirable addresses.
A First for Manhattan Beach, a Big Moment for Crypto
The use of cryptocurrency in real estate isn’t new, but it rarely shows up in deals of this scale. What makes the Manhattan Beach listing unique is the seller’s willingness to transact entirely in Bitcoin or USDC. The seller is even offering to lock in the USD conversion rate at the time funds are placed in escrow.
Guaranty Escrow is backing the deal. They are the only U.S. escrow provider approved by BitGo, a crypto custodian trusted by institutional investors and sovereign funds. That kind of infrastructure matters when managing large transfers of digital currency.
The move aligns with broader trends in blockchain finance, particularly among presale projects like buying a Bitcoin Hyper coin. Bitcoin Hyper is building a high-speed Layer 2 network for Bitcoin, enabling fast BTC transactions. It supports staking and DeFi applications, making it easier to integrate crypto into everyday payments, including real estate. As these tools grow more advanced, high-net-worth individuals are increasingly willing to fund property purchases using crypto directly.
In recent years, California has seen a steady rise in crypto-funded luxury sales, but few with a location and setup like this one. For buyers looking to diversify assets while securing income-generating coastal property, this deal combines novelty with practicality.
The Property: Beachside, Rent-Ready, and Zoned for STRs
The property itself is located in El Porto, one of the most sought-after corners of Manhattan Beach. Zoned and approved for short-term rentals, it’s already producing revenue, giving potential buyers both an investment and a turnkey vacation-rental business.
Just north of downtown Manhattan Beach, El Porto is known for its surf scene, walkability, and limited inventory. With celebrity-owned homes in the area and consistent demand for high-end beach rentals, this stretch of Highland Avenue rarely sees such listings hit the open market. The building’s current income stream and legal STR status make it an even rarer find.
Private Market, Public Interest
Though the listing is being quietly marketed to high-net-worth buyers, interest is expected to be strong. According to agent Elaine McIntyre Kim, this isn’t just a property. It’s a landmark opportunity. “This isn’t just a listing, it’s a milestone,” she said, citing the blend of digital assets and beachside real estate as something that reflects a new chapter in California’s market.
