Great Opportunity to purchase a 6-unit in a high demand rental market. Property consists of one 4 plex and one 2 unit converted home. Rents are below market and management is not fully capturing utility expenses. The current as-is cap rate is about 5.2%, Proforma cap rate is 7.2% by simply capturing utility expenses through RUB's with out any increases to base rent.
- 4 of the units have ocean views.
- Nice hard wood floors.
- Upgraded Electrical meter pack and panels.
- Classy 1940 character in the units.
- 4 Garages.
- On site laundry.