Back on the Market

• This property recently fell out of escrow due to the Buyer unable to secure financing for the renovation project. The Buyer did successfully secure the financing from Bank of America for the purchase price.
• One condition the prior Buyer requested was for the property to be delivered vacant, so now it's 100% vacant.

First Time on the Market in 32 Years

• The rents are substantially below market.
• There are no leases in place, verbal only. Buyer may evict tenants with 60 day notice.

Development Opportunity

• This property is located within the Residential district of the Sunset Beach Specific Plan. This district allows for single-family or duplex dwelling units, or add an ADU.
• The prior buyer in escrow paid for plans that include an ADU and two (1) car garages. These plans may be purchased.
• The maximum height is up to three stories and not more than 35 feet maximum.
• The setback are very generous; 5 feet (front and back) and 3 feet on sides.

Short Walk to the Beach

• Located on the "water side" of Coast Highway.
• 195 feet walk from the property to the beach sand.