Ideal location within Coastal Zone which may qualify for 'future' consideration and permitting as a 'Short-Term Rental' investment as determined by the City of Pacific Grove and the California Coastal Commission. Resting on the cusp of Ocean View Blvd, The Monterey Bay Aquarium and Cannery Row, this 5 unit(4 with ocean views), fully leased 1bed/1bath 'low' maintenance apartment complex is available today for SALE. Strong NOI with healthy cap rate, this investment has strong measurables and room to increase rents robustly for years to come. Pride of Ownership and well maintained, this 'rare' find is a turnkey with positive cash flow 'Day One.' Contact the City of Pacific Grove's Community Development Dept for rules and guidelines for future 'Short Term Rental' permit opportunities.
Courtesy of Michael Zabrycki, Broker, Michael Zabrycki.
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