CBRE is pleased to present an extremely rare waterfront development opportunity with an existing income-producing fourplex to hedge against holding costs. 925 S Pacific St contains a four-unit residential building on a 9,750 SF oceanfront parcel with 75 feet of exclusive beach frontage. Current zoning allows for the development of up to 10 residential units and short-term rental operations. This coveted street of prime Southern California real estate commands astonishing pricing with the most recent transaction on S Pacific St of a 1970s construction condo trading at $1384 per sqft. This rare strip of real estate is one of the few in the county that offers a parcel that backs up directly to the Pacific Ocean providing for significantly more privacy and exclusive beach frontage. The existing fourplex consists of (1) 4 bedroom/2 bath, (2) 1 bedroom/1 bath, and (1) Studio unit.