Top opportunity in area all on the waters edge. High ocean front cap rate / return from day 1. Occupancy over 90% as STR, highly desirable with upside potential. Each unit has one parking space, recently updated, patios and shared area on on the waters edge - this is what renters and vacationers want. Great for first time investor, live in one rent other three out. Income has increased YoY. Recent capital improvement of over $600k with new sea wall. Think bigger and develop further for bigger returns.
Listing courtesy of Keller Williams Carmel Valley
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