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$1,725,000

Available Now!

3143 Marina DR, Marina, CA 93933

3143 Marina DR, Marina, CA 93933

Residential Development Land  |  Zoned: R-4

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Description

Just Reduced! Three homes, One Duplex, and a 871 sq.ft. separate workshop with a 4100 lot/storage space to it all on .927 acres in the heart of Marina and very close to ocean. 6 Units total/all individual metered for gas/water/elec. Tenant pays all. Upside is tremendous yet its priced right at 4, 76% CAP for its CURRENT income NOW despite that being approx. 20% below market rents which if raised would provide a 6.05% CAP! The real upside is that it is ZONED R-4 where NEW PROJECT can receive 15-35 UNITS. MARINA HAS NO WATER RESTRICTIONS ON DEVELOPMENT AT THIS TIME. Please respect the homes tenants and kindly DO NOT DISTURB them.

Details

  • Monterey County
  • Zoned: R-4
  • Prop Type: Residential Development Land
  • Dev Status: Unknown
  • Current Use: Multi-Family
  • Best Use: Unknown

$1,725,000

Available Now! -

MLS ID# ML81626161

Listing Provided by

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Julie Kavanaugh
Montgomery Company


Hosted by PMZ Real Estate

(877) 565-2010

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Julie Kavanaugh
Montgomery Company


Hosted by PMZ Real Estate

(877) 565-2010

Get more info or schedule a showing
     

Question or comment

11:0
MLS#: ML81626161
Listing Office: Montgomery Company
Listing Agent: Julie Kavanaugh
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