1287 PIERCE STREET

Great investment opportunity! In the last five years we have run about a 98% occupancy rate. The only vacancy periods during the last five years have been for renovation work when a tenant has moved out. These units have been very easy to rent (as we are currently renting well under market) and as a result we have experienced little turnover while maintaining a strong tenant base. The property consists of two well-maintained, concrete block buildings. The first is a two-story building which houses three units on each floor. The second building is a duplex design. There are a total of seven Two-Bedroom units and one One-Bedroom unit in all, each containing One Bathroom apiece. All eight units are tiled and have central A/C. They are also separately metered for water/electric which is paid by the tenant (trash included). In addition, the property has its own laundry facilities on site that produces additional income. The property provides ample parking for its tenants. Conveniently located just 1.5 miles from the nearest shopping center and 3.5 miles to the beach. This property is not in a flood zone and flood insurance is not required for bank lending.