This is a unique investment opportunity with an 11% CAP rate! This property sits on a 10,000 sq ft lot and is zoned CRT-1. This investment property currently has both long-term rental units and AIRBNB rental units. The unique building surrounds a center courtyard with a heated inground pool that is perfect for guests. The total gross income on this property in 2018 was $76,492.48! This property is perfect for an investor who would like to AIRBNB properties, live in one unit and rent the others, or develop the property into something else.
This property features:
UNIT 1: Larger 1 bedroom, 1 bathroom unit with a beautiful kitchen, dining room, and office that is fully update. This unit has consistently rented for $1,500.00/month which is inclusive of utilities. This unit transfers unfurnished.
UNIT 2: 1 bedroom, 1 bathroom apartment above the garage. This unit has consistently rented for $1,100.00/month which is inclusive of utilities. This unit transfers unfurnished.
UNIT 3: Referred to as the Pineapple Pad, this unit features a small kitchenette area, newer bathroom, and operates as an AIRBNB. This unit consistently rents for $75.00 per night and the unit will be sold furnished and turn-key.
UNIT 4: Referred to as the Flamingo Casita, this unit rents for $65.00 per night and the unit will be sold furnished and tun-key. The current owner previously had plans to add a kitchenette to this unit.