This is a unique opportunity to own a great rental investment property. It's return on investment is in the double digits and positive cash flows. This multi-family property is only 3 blocks from the beach and 2 blocks away from Baywatch Resort. This property consists of 1 masonry block building, which half is 2 stories high. There is a total of 11 unit which comprise of 5 efficiencies, 4 1-bedroom units and 2 2-bedroom units. The roof was replaced in the beginning of 2017. There is an onsite landlord/maintenance person to collect rent and handle day to day operations. This is a very quiet complex and all units stay rented. Most are long term renters. Most rentals are from the local resorts and landscaping companies for their out of state employees. Owner will consider owner financing with sizable down payment. In the Master Plan Atlantic Beach has implemented to revitalize this area, this property would continue to be Mixed Use but reclassified as Mainstreet 1 (MS1). The intent of the MS1 District is to provide for pedestrian oriented low-density development. The setbacks are 10', maximum height is 5 stories or 55', whichever is less. If 11 units is not enough there is an option of buying Cabanas 1 which is 4 lots away and offers an additional 18 units including a brand new 2 bedroom condo with ocean views from balcony!
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
