Real Estate Investor · OR · Member since 2012 · 390 posts · 133 votes
Right across the street from the beach!!!
This is an Off MarketBeach property with 28 units that can be operated as a cash cow motel in the high season and an extended stay motel in off season. This cash cow brings in $160K during the 4 month High season alone $160k the rest of the year---conservatively speaking-----with NO marketing.
Only needs light cosmetic updating.
In order to maximize profits of this beach front property someone with vision could erect a condo tower. City has approved already.
It already sits nestled in among many other properties that operate as hotels, condos and condotels.
Continue to run it as a motel while completing the condo plans. Lots of options!!