826 Gaviota

Exceptional investment opportunity just a short bike ride to the beach! This well-maintained 4-plex offers a versatile unit mix, strong income potential, and an ideal setup for both investors and owner-occupants. Located near Downtown and the vibrant 4th Street Retro Row, the property sits in a highly desirable rental area known for its coastal lifestyle, walkability, and charm. The front detached unit is a spacious 3-bedroom, 2-bath home, perfect for owner occupancy or commanding premium rent. With its generous layout and privacy from the other units, it lives like a single-family residence while still benefiting from the income of the additional units on site. Behind the front home are three additional units: two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, creating a highly rentable and desirable unit mix. One of the 2-bedroom units is currently vacant and ready for a new tenant, presenting an immediate opportunity to set market rent and increase overall income. The property features convenient on-site laundry for tenants and ample parking, including a carport, driveway parking for two vehicles, and additional spaces for a total of five parking spots — a rare and valuable amenity this close to the beach and downtown. This income property has a proven track record of solid rental performance, yet still offers room for upside through rental increases and value-add potential. Its prime location near shopping, dining, entertainment, and coastal attractions makes it highly appealing to long-term tenants and short-term renters alike. Whether you are looking to live in the front home while collecting rent from the other units, or seeking a strong addition to your investment portfolio, this property checks all the boxes: location, unit mix, parking, on-site amenities, and income growth potential. Opportunities like this in such a sought-after coastal neighborhood are rare. Don’t miss the chance to own a flexible, high-demand multi-unit property in one of the area’s most desirable locations.