Located on the intracoastal with ocean access. Boasting 145' on the water this building also features 5 deeded dock spaces. Pool with lounging area. Just a few blocks from US1 the beaches are a short bike ride or walk away. Located on a quiet cul-de-sac street in walking distance to shopping and all amenities.
The 10 units are composed of 7 one bedroom units; 2 two bedroom units and 1 efficiency unit. All units feature granite kitchens, dark cabinetry, stainless steel appliances and travertine bathrooms. Upstairs units have private rear porches and downstairs units have paver's patios in rear, both overlooking the water. There is a coin-operated laundry on-site, one pool equipment room and one storage room.
Waterfront with Ocean Access
145' on water
5 Dock Spaces
Cap Rate 5.5%
Bldg Size: 7,024 Sq Ft
Lot Size: 14,465 Sq Ft
Built in 1963
13 Parking Spaces
This building's 5% capitalization rate vs 2% bank CD returns makes this a superior investment with greater return. Obtain a monthly return while watching the property increase in value.
Well-maintained building in impeccable condition. 40 year inspection recently completed in December of 2017.