This is an incredible opportunity to own over a quarter acre of property in the highly sought-after downtown area of Avila Beach. The package being offered includes two adjacent parcels with two existing 2-bedroom,1.5-bathroom home(s). With tentative map approval for these two parcels to be split into four lots with three free-standing new residential units to be built. This density bonus subdivision allows for the two existing front homes to become duplexes, each with (2) one-bedroom apartments. The three additional homes will be nestled against the hillside; thoughtfully designed to include 2-bedrooms, 2.5-bathrooms, multiple decks, large 2-car garages and a stunning 750sf rooftop deck. Both existing homes have been tastefully updated with hardwood floors, subway tile, and marble countertops and offer immediate use and enjoyment of the property while maximizing its investment potential. Don't miss out on your own slice of Avila Beach paradise!