Fourplex with Approved Plans for 5-Story Redevelopment

Positioned on an 8,822 SF lot with a 1,968 SF existing building, this four-unit property is already producing $4,400/month—giving a developer valuable in-place income to help offset holding costs while advancing plans and permits. The attached plans envision a boutique 5-story, 12-unit multifamily with ground-level parking (11 spaces) and typical floors of three 2-bed/1-bath residences—about 10,000 SF of living area across levels 2–5.

Income during entitlement — $4,400/mo (4 units) offsets carry while you finalize approvals, bids, and financing.

Efficient unit mix — All 2BR/1BA; proven absorption and attainable rents—ideal for workforce-oriented, long-term holds.

Parking solved — 11 on-site spaces at grade streamline lease-up and lender underwriting.

Right-sized scale — 12 units = simple ops, lean HOA/management, flexible exits (stabilize/refi or sell).

Neighborhood fundamentals — North Beach/Normandy Isles: beach-adjacent, daily conveniences, quick causeway access, steady renter demand.