Two adjacent parcels ( 4137 010 005 and 006)being sold together 1 block above Ocean Dr between 40th and El Porto. Both parcels are mixed use zoning. Corner parcel currently has a fully functioning laundry mat with garage access on the street level on 40th street ( see listing photos). Upper levels have 3 separate residential units: Two -2 bedroom apartments leased for 2800.00 and 3800/month, and one 3 bedroom read more
penthouse apt at 4500/month, all with ocean views and just a short walk to the sand. All are currently leased. Additionally there is a small studio apartment that has been a weekly rental that leases out for 1500-2000/mo. Total building sq footage is 3221. Garage enters on 40th St.
The adjacent parcel, 3917 Highland is currently an empty parking lot. Seller has a person who is interested in leasing and managing the laundry business at 16K/month + 20% of gross income rate. Business plan for the laundry could generate 80K/month. Call for more info on that. Current owner has all environmental reports and inspection reports from when he purchased the property in 2011. OWNER HAS NEARLY COMPLETED A TOTAL REMODEL OF ALL THE RESIDENTIAL UNITS. NEW PRICE REFLECTS NEW VALUE IN RENTAL RATES.