This 1963 multi-family with 15 units on a tight 0.48-acre lot is priced at $310/sqft, which sits well below the current median single-family asking range ($815K–$875K) and reflects the property's age and density—you're buying an income-producing asset in a retirement-heavy market (median age 59.8) where condo sales have actually softened 7.4% year-over-year due to inspection and reserve costs. The real question is whether the rental income offsets the deferred maintenance typical of a 61-year-old building and justifies the capital-intensive repairs and reserves a 15-unit property demands, especially given that 60% of condo buyers are paying cash, suggesting strong competition from investors with deeper pockets. Location on South Atlantic Avenue is beachside and walkable, but the narrow lot and aging infrastructure mean this works only if you're committed to active management or a professional operator can show clear cash-on-cash returns after

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