Cash Flow Opportunity. Though zoned for vacation rentals, the owner had been renting as a long term rental. This duplex is now vacant and is ideal for a vacation rental program. Property has been priced to cash flow. 70% Occupancy rate should generate net income of nearly $60,000 per year. Upside to increase rents and occupancy for even better returns. Your vacation renters will love this excellent mid-island walkable location. Close to the beach - only a stroll away. Convenient to restaurants, marina, and shopping. Trolley stop nearby. The property also overlooks Spring Lake with a private wood dock. Private and serene setting. Unit A is 1-Bedroom 1-Bath unit which should rent for $1000/week during season. Unit B, 2-Bedroom 1-Bath unit was just remodeled and should rent for $1500/week during season. Each unit has a spacious 2-car garage. Washer and dryer hook-ups for each unit. Elevated living level complies with FEMA. Property is ready to rent, though would also benefit from your personal touch. Long term leases have expired and tenants have vacated, so great opportunity for a new owner to take advantage of the upcoming vacation rental season. Rental Income and Net Income Projections available.*Listing provided courtesy of the MLS.
Listings provided courtesy of the MLS.
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