Value-Add Multifamily in Ocean Park – Steps from the Beach on Calle Italia Located just one block from the sand in San Juan’s iconic Ocean Park neighborhood, this rare five-unit multifamily property sits on the highly coveted Calle Italia and offers a unique opportunity for investors or owner-occupants. The property is currently vacant, providing a blank slate to renovate and reposition for short-term, long-term, or mixed-use income. Property Layout: • Main Residence (Ground Floor – approx. 1,407 sq. ft.): 3 bedrooms, 2 bathrooms, living room, dining area, kitchen, laundry, utility, and storage rooms. Includes a 1-car carport and access to a fenced, paved patio area, ideal for outdoor living or future enhancements. • Unit 2 (Second Floor – approx. 733 sq. ft.): 2-bedroom, 1-bath unit with open kitchen/living/dining space and two private terraces, offering excellent indoor-outdoor potential. • Unit 3 (Second Floor – approx. 344 sq. ft.): 1-bedroom, 1-bath apartment with a private balcony. • Unit 4 (Second Floor – approx. 374 sq. ft.): 1-bedroom, 1-bath unit with flexible layout and access to a shared terrace. • Rear Unit (Approx. 377 sq. ft.): A separate 1-bedroom apartment located behind the main house with its own kitchen and living space—great for guest use or rental. Condition: The property will benefit from renovation. With a great location, it’s ideal for buyers looking to add value and maximize rental income. This is a rare opportunity to transform a multifamily asset in a premier coastal location—steps from the ocean and minutes to everything in San Juan.

Listing courtesy of ARLEANE MERHEB 7874302828



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Last checked: 2025-07-18 05:44 PM EDT