Hammock Realty
Listed by Hammock Realty
$2,999,000
VILLA DEL MAR
Details
APN C-20-37-30-A00-0060-0000
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 14,736
Units 51
Cap Rate 7.00%
NOI $126,977
Broker Co-Op Yes
Year Built 2008
Buildings 2
Stories 2
Acreage 6.030
Zoning R3FUD
Parking Spaces 51 spaces
Parking Per SqFt 3.46
Prime Investment and Development Oppertunity
Marketing description
6.05-acre waterfront property on Lake Grassy with frontage on Highway 27. Includes a 9-unit complex built in 2008: five single-story (2 beds, 2 baths) and four two-story units (3 beds, 2.5 baths). Fully paved roads, utilities, and a valid wastewater permit through 2029 make this a shovel-ready project. Approved plans for 42 additional 3-bed, 2.5-bath units (approx. 1,565 sq. ft.) can be adapted to suit your vision. Also features space for a community pool. Existing income-producing units, highway visibility, and water access make it an ideal turnkey opportunity for developers or investors
Investment highlights
9-unit complex built in 2008: five single-story (2 beds, 2 baths) and four two-story units (3 beds, 2.5 baths). Fully paved roads, utilities, and a valid wastewater permit through 2029 make this a shovel-ready project. Approved plans for 42 additional 3-bed, 2.5-bath units (approx. 1,565 sq. ft.) can be adapted to suit your vision.
Listing Contacts
Hammock Realty
Listed by Hammock Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$126,977.00
$10,581.42/mo
Valuation Metrics
0
DSCR
4.23%
Cap Rate
4.23%
ROI
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