805.689.0532
Real Estate Company
Breathtaking Ocean Views Just Steps to The Sand! This bright and open 2-bedroom, 1-bath unit offers the best of coastal living, complete with a remodeled bath, recessed lighting, newer appliances, ample storage, and a private balcony with expansive ocean views. Ideal for enjoying morning coffee and sunset relaxation. Currently with an Active Short-Term Rental Permit (no waitlist for new S/T permit in this property zone), this property represents a rare income-generating oceanfront opportunity and an ideal candidate for a 1031 Exchange. With a strong average daily rate (ADR) of $616/night, unit #302 generated $91,751 in gross revenue over the trailing 12 months at a conservative 40.8% occupancy rate due to personal owner use. Casago pro forma puts ave rental at 50%-66% and $120k-$172k/y T.I.C. - Fully financeable, undivided 1/36 interest. Please call Annette Vait with any questions and for more information.
Listing courtesy of Berkshire Hathaway HomeServices California Properties.
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