Location, Income, Upside... South Mission Beach. LOCATION: Highly desirable coastal area income property. No vacancies, lots of parking (8 spaces). Beach & Bay 1/2 block away. Markets, pubs, entertainment are walkable. INCOME: Area has pivoted to more second homes/short term rentals, so long term rentals have become more scarce, rents continue to climb, and vacancies reduce. Most of the units have been upgraded over time. UPSIDE: Value can be added by creating side yard patios for lower units. Two parking spaces can be converted to court-side patio for tenants grilling, entertaining and relaxing. Interiors can be further remodeled to increase rents. This lot is over 300sf above standard. Allowing for over 3,000 sf, 3 story, duplex construction with water views if/when replacement is desired. Very few commercial income properties in this area. See video link for area overview.
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