Rare eight-unit coastal income property in Riviera Village, half a block from the Esplanade and less than 0.1 mile to the sand. Five of the eight units enjoy ocean views. Four 2BD/1BA and four 1BD/1BA units averaging approximately 828 SF, on an approx. 9,000 SF lot with covered parking and on-site laundry. Unit 4, a two-bedroom, will be delivered vacant: renovate it to your own standard and lease at market, or occupy it yourself. Offered at a 4.12% cap rate and 15.67 GRM on current rents (vacant unit at market), with renovated rents supporting a 5.15% cap and 13.34 GRM. Most windows have been replaced, the electrical has been updated and the SB 721 balcony inspection is complete. No local rent control (AB 1482 only), and all tenancies are month-to-month. Steps to Riviera Village dining and shopping.
Listing courtesy of Listing Agent: Gianluca Jacoli (luca@shieldcre.com) from Listing Office: Shield CRE, Inc..
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
