Gross Rent Must at under 12!!! Cap Rate over 5.5!! With additional upside. This is your opportunity. Beach investments like this rarely come available! 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
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS®,