Prime Beachside Investment & Development Opportunity! West of the 5 Freeway and approximately a 3-minute walk to the beach, this exceptional Carlsbad property offers a rare combination of coastal lifestyle, immediate rental income and future development potential. A nearby crosswalk provides convenient access to the beach stairs, putting the sand and surf just moments away. The completely remodeled home has been a successful vacation rental for the past five years and is located within an approved vacation rental zone, an important advantage in Carlsbad where not all properties qualify for vacation rental use. The generous lot size and placement of the existing home offer development potential. The multi-unit zoning opens the door to several possibilities, including adding a back duplex, expanding the existing home, or pursuing a larger redevelopment concept, all subject to city approval. The current home can continue generating rental income while exploring the property's future potential. Currently, the rear yard features a private volleyball court. This home has an unbeatable coastal location and may be purchased fully furnished and turnkey, allowing a new owner to seamlessly continue its use as a vacation rental. Whether you're seeking a turnkey income-producing property, a coastal development opportunity, or an investment with immediate income and long-term upside, this is a rare opportunity in one of Carlsbad's most desirable beachside locations.