About This Property
This well-kept building in the down town Marine Avenue core is an exciting opportunity! Large lot with 50’ frontage street level with two established businesses renting offices on the main level and two nice ocean view residential suites upstairs with rear parking and level access. Plus, this nearly quarter acre lot is 196’ deep with plenty of room for future development in the back, with great views too.
Features
- Built in 1993
- 0.235 Acre Lot
- 4,800 SQFT Building
- Fully Tenanted
- $4,300 / month gross rent
- Market rents would net $400+ more
Asking Price: $789,900
Initial Cash Required: $230,000
Monthly Cash Flow: $179
Target Annual ROI: 20%
Target Profit if sold after 10 Years: $450,000
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