EXTRAORDINARY INVESTMENT OPPORTUNITY! This charming coastal style six-unit, multifamily property is situated approximately 2.5 blocks from the beach and boardwalk in an amazing location. Enjoy amusements and water parks, fantastic restaurants, recreational parks and so much more, all within close proximity. All units in this building have full heat and air conditioning, offering options for renting for short term summer rentals, longer seasonal / shoulder season rentals or year-round - or a variety, as may suit your needs. You could reserve a unit for personal use and still produce a strong income. The wrap around porch on the second level is the perfect spot to line up the rocking chairs and enjoy the sounds and sights of people enjoying life at the beach. Both units 3 and 4 are accessed from this porch. Unit 3 (on the 2nd level) is a beautiful 2 bedroom, 1 bath with stunning hardwood flooring throughout, a large living room, dining area, kitchen with plenty of cabinets and tile flooring with walk in pantry, and a bath with large tile shower and unique dresser style dual sink vanity and washer/dryer hookups, and a deck off the kitchen. Unit 4 (up the stairs on the 3rd level) is a 2 bedroom, 1 bath with original stainless window features, original doors with glass knobs - it's very charming. This unit has new carpeting throughout, a private washer and dryer, kitchen and living room. The front deck dedicated to this unit has massive and expands the living space. The top floor is unit 5, and that is the largest of the units with 3 bedrooms and 1 bath. Units 1 and 2 are on the ground level. Unit 1 is a two bedroom, two bath with large wet room style tile bathroom, living room, kitchen and its own small deck. Unit 2 is a one bedroom, one bath with a sitting room with patio, kitchen, bath with tub, and a private washer and dryer. Unit 6 is the free standing cottage, which is a 1 bedroom, 1 bath with kitchen and sitting area. The owner has made many improvements to this property - the property has attractive vinyl siding for minimal maintenance, all systems and utilities are separated to each unit, all kitchens and baths have been updated - the property is ready to go for 2024. Situated on a large 64 X 100 lot, there is plenty of parking for all units and outdoor space. Every unit is vacant with the exception of Unit 5 - that unit is rented for $1,900/mo. on a month-to-month basis. Income potential exceeds $125,000 easily and could push higher with a short-term rental approach. Ready to invest in your future and the shore? Call today to reserve your showing! |
