RARE GULF SHORES INVESTMENT & DEVELOPMENT OPPORTUNITY! Located just 1 block from the Gulf Shores Public Beach and steps from the restaurants, entertainment, shopping, and attractions of the city’s vibrant beach district, 232 W 1st Ave offers an exceptional combination of location, income potential, & future development possibilities. Situated w/in the Gulf Shores Walking Area Overlay District & zoned BT-2 (Tourism Business Medium Density), the property offers tremendous flexibility for continued rental use or future redevelopment, subject to applicable city requirements & approvals. The 50' x 212' lot features 2 well-maintained homes, each offering 2 bedrooms, 2 bathrooms, & approximately 1,100 square feet ea. The home to the north will convey fully furnished & rent-ready, providing an opportunity to begin utilizing the property for vacation rentals while the home to the south will convey partially furnished & includes a cargo lift for added convenience. Each residence features welcoming sliding glass doors that open onto a private deck (30x8 for home to the north) (30x15 for home to the south), creating an inviting outdoor space for relaxing & entertaining. There is room (35 x 30) to build a shared pool between the homes to boost rental income. See rental projections for each home as-is & w/ an addition of a pool in Documents. The property’s BT-2 zoning adds another valuable layer of opportunity, w/potential for future commercial development should an owner choose to redevelop the site, subject to applicable zoning, permitting, & development requirements. The existing homes provide immediate utility while the underlying zoning and prime location create long-term possibilities. W/ the Gulf Shores Public Beach just one block away, vacation rental eligibility, 2 existing income-producing residences, & a substantial 50' x 212' lot in a high-demand tourism corridor, this is a truly distinctive property w/both immediate and future potential. Some photos virtually staged. Buyer to verify all information during due diligence.