CASH-FLOWING INVESTMENT PRODUCING AN 8.9% YIELD AND JUST 3 STREETS FROM THE BEACH!

We added 20K for rehab, however this is a cash flowing "as-is" and has been with proof of rent rolls from the current owner.

This is a rare opportunity to acquire a high-performing, fully stabilized income property in an exceptional coastal location. The property boasts confirmed zoning and land use allowing up to 10 units (per the Property Appraiser), creating significant long-term redevelopment and value-add potential, all while generating strong cash flow from day one. Even better, the property has zero code violations.

Current ownership has maintained the property well, and it is occupied by long-term tenants with 6 months remaining on their leases, all of whom have expressed interest in renewing. The property is already producing a verified 8.9% cap rate at the asking price, providing immediate, reliable income with additional upside.

Property Highlights:

• 8.9% Cap Rate at asking price (after taxes, insurance, and operating expenses)
• Confirmed zoning & land use for up to 10 units
• Zero code violations
• 2018 Roof
• High & Dry X Flood Zone
• On-site parking
• Shared outdoor patio area for tenants
• Strong rental history with long-term, reliable tenants

Value-Add Opportunity:
A large on-site storage building was previously configured as an apartment and presents an excellent opportunity to convert it back into a rentable unit, creating an additional stream of income (buyer to verify).

Location is everything, and this property delivers. Situated just three streets from the beach and within walking distance of the Main Street Pier, beach access, restaurants, shopping, and entertainment, it offers exceptional appeal for both long-term and short-term rental strategies. Nearby properties are successfully operating as both Airbnb and long-term rentals.

The upside is already being demonstrated in the immediate area: a comparable 4-unit property just two doors down recently sold for approximately $600,000, reinforcing the property's value and appreciation potential.

Whether you're completing a 1031 exchange, expanding your investment portfolio, or looking for a coastal asset with immediate cash flow and future development potential, opportunities like this are rarely available.