Property details

Beach Apartments, Southeast Region

Property Description

•  1/2 Block off Beach

•  2nd Floor Apartment Units have Beach / Ocean View

•  Beach Access down restricted walkway

•  New Overlay District for greater apartment flexibility

Newly created City overlay district which allows for major improvements and/or reconstruction of properties based on their current setbacks and lot coverages thus allowing for a major redevelopment opportunity along the beach side of the boulevard. Since the passage of this district the building department has seen a spike of inquires and applications for major property changes. This 6 unit beach apartment complex is ripe for conversion into an upscale Bed and Breakfast or complete reconstruction into an upscale 6 unit townhouse project.

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Highlights

Status:
Available
Price:
$950,000
PSF:
$252
Annual Rent:
$0
Rent Increases:
None
 

Property Information

Building Size:
3,777 sq.ft.
Property Type:
Apartments
Industry Type:
Apartment - Multifamily
Units/Spaces:
6
Year Built:
1957
Land Area:
0.21 acres
Purchase Tenure:
Fee Simple
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.