925 S Pacific St

CBRE is pleased to present 925 S Pacific St, an extremely rare trophy waterfront fourplex with additional development potential. This unique and rare asset consists of an ideal unit mix for short-term rental operations providing units for individuals, couples, and large groups to get away. The property consists of three 25x130ft waterfront lots totaling 9,750 lot with 75 ft of exclusive beach frontage and contains an existing four-unit residential building. Current zoning on this lot allows for both short-term rental operations and development potential for up to 10 residential units. Allowing an investor to acquire a cash-flowing trophy asset with the opportunity to build out condos or SFR's for disposition or a multifamily development to hold and operate as either long-term or vacation rentals.
4.93% proforma cap rate assumes operations as a short-term rental.