Wade M. Berlin

Stabilized 7 unit cash cow producing an 8% cap rate on asking (after taxes, insurance, and expenses)! 3 streets from the beach! This is a rare, high performing asset with a confirmed zoning of up to 10 units, and land use of 7 units per the property appraiser and zero code violations. This property delivers a strong 8% return in its current state, offering a proven track record of reliable income with even further room for appreciation. The property is fully stabilized with long term tenants on active leases (612 months remaining) who take great pride in the property. Key features include a 2018 roof, solid mechanicals, on site parking, a common patio area for tenants, and a "high and dry" x flood zone designation. As a bonus: there is a large storage unit on site that was previously an apartment and could be converted back for additional revenue. Located walking distance to the main street pier and beach access, the equity here is undeniable: a 4 unit property just two doors down recently sold for $600kthis is 7 units with immediate, verifiable cash flow from day one. Perfect for a 1031 exchange or a portfolio expansion. Units nearby rent as airbnb or long term rentals! Call today!