The entire asset has been gutted and redone front the studs out with permits, as necessary.~ The recent $650,000 capital expenditure includes NEW: roofs, plumbing, windows, decking, railings, waterproofing (in the walls), as well as all new subpanels and ALL wiring throughout!~ The interior "fit-and-finish" is beach-chic, with nothing left to be desired.~ All units boast hardwood, marble, subway tile, recessed lighting etc.~ ~The building's location on its parcel, is also superior to virtually everything on The Strand.~ Setback requirements, at its date of construction were virtually non-existent - the front balconies almost hang right over the bike path and sand! ~The view is actually greater than 180 degrees!~ Making a perfect view, better. Lastly, the offering affords an investor the opportunity to assume excellent, BELOW-MARKET, in-place financing. ~The current loan has a principal balance of $4,900,000 at a rock-bottom monthly payment of 4.25% Interest-Only - until August 2020.
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Listing Courtesy ofMarcus & Millichap