1031 Imperial Beach Blvd.

Imperial Beach, CA, 91932

$22,750,000

$499 per ft²
$22,750,000
$499 per ft²
Active
Active
 - For Sale
beds
7 Beds
carpenters-square
45,588 ft²
property_type
Other
This is an amazing opportunity to own one of San Diego County’s largest coastal Apartment Buildings. The bonus is that this property is very well maintained by long term ownership & management but there is immediate upside in the Rental Income! Rents are 30% below market. 50% of the units have been upgraded along with a substantial amount of Capital Improvements to the Exteriors. Opportunity to raise rents and initiate a RUBS (Utility Reimbursement) program to increase NOI. Stabilized cap rate close to 5.5% cap. Seller may consider carrying a 1st or 2nd Note. Call agent for details.
MLS® ID:
230003007
Listed:
2/13/23
Updated:
3/21/23

Interior Features

Kitchen Appliances
Dishwasher, Range, Refrigerator, Disposal
Total Bedrooms
7
Total Bathrooms
0

Exterior/Building Features

Lot Size
1.28 acres lot

Other Property Details

Area Name
South Bay
Association Amenities
Clubhouse, Rec Room
Garage
No
Parking
Spaces
Parking Total
79.0
View
N
County
San Diego
Pool
No
Total Stories
2
Zoning
R-3 RM
Buyer Agency Compensation
1.0

Courtesy of Marcus & Millichap, Thomas McCartin,
Listing Contact: 858-373-3100 

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego Multiple Listing Service. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. 

© 2023 San Diego Multiple Listing Service. All rights reserved. 

Data last updated 9:07 PM UTC, 3/21/23

Contact