Property Type:
Comm Sale or Lease
Square Footage:
4,040
Lot Size (sq. ft.):
0
Status:
Closed
Current Price:
$1,600,000
List Date:
9/26/2020
Last Modified:
6/17/2021
Description
Beach Cottages and apartments, solid income, New Roofs, Apartments completely brand new inside, new vinyl siding on the cottages. Large cottage average 2400 a month, small cottage 1700 a month x 3, apartments 1200 a month x 5.
Current Expenses
Internet: $938.84
TV: $1,880.79
Power:$11,596.88
Water Sewer: $6,993.35
Taxes: $2,846.99+$2,250.03= $5097.02
Insurance$9984.00
Based off full time rental potential gross income is 162k a year, with vacation rental income can greatly increase. But with a fair 25% expense ratio You will have 7.5 cap rate
B1 Zoning
Banks/loan/finance company; bus terminal (S); place of worship;
eating/drinking establishment; service station (S); food store; hotel/motel;
parking lot (S); professional office; barber/beauty/personal service shop;
public building/facility; retail store; arcade (S); theatre (S); dance hall; home
occupation; Dwelling constructed in conjunction w/ permitted uses above- if
integral part of main building (S); real estate; Accessory uses clearly incidental
to permitted use that doesn't create nuisance or hazard
Last Updated: June - 17 - 2021
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