19-Unit Apartment Development Project + 1 ADU. Prime development opportunity on a 13,515 SF corner lot featuring two existing commercial buildings totaling 2,890 SF, currently generating rental income with tenants on month-to-month leases. The property is located on a corner with a dead-end alley, offering both access and privacy. Property Highlights: Entitlement in Progress: City Planning approval expected by September 2025. 19-unit apartment building + 1 Accessory Dwelling Unit (ADU). Previous Approval: Originally approved for a 12-unit, 3-story apartment building. Following recent updates to the City’s Master Plan, the project has been redesigned and expanded into a 4-story structure. Design Features: Mix of 1- and 2-bedroom units, stackable design for cost-efficient construction. o Ocean views from upper floors. o 2 ground-floor live/work units. o Gated surface-level parking garage. o Central courtyard and dedicated trash enclosure. An excellent investment for developers seeking a multifamily development project with value-add potential and existing cash flow. Approximately 17,000sf rentable units. • 13,515 sf corner lot, 22 parking spaces on ground level Parking garage, Including ADA, bike rack area, elevator, open courtyard, with ocean view. • Existing Bldg. 2,890 sf with Income • Existing Zoning: Commercial • Comprehensive Land Use Designation: T4.5 • Environmental Clearance report, • Complete Architectural drawings with 22 subterranean parking with back alley • Survey report, • Soil Report • Landscaping plan, • Development project complies with the MS4 City requirements, • Designated Affordable Housing Units. • Sewer and water availability report and approval Review the attached brochure for the projected Profitability Analysis.