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$3,495,000
Est. payment /mo
144 Beds
24 Baths
8,760 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Com-Res Income
Listing Status Pending
Purchase Type For Sale
Square Footage 8,760 sqft
Price per Sqft $398
MLS Listing ID 260010914
Bedrooms 144
Full Baths 12
Half Baths 12
Property Sub-Type Com-Res Income
Property Type Com-Res Income
Property Description
Located at 739–747 Florida Street in the highly desirable coastal community of Imperial Beach, this rare 12-unit multifamily offering presents a compelling investment opportunity just minutes from the sand and with convenient access to the Interstate 5. The property consists of three adjacent parcels, each improved with a well-maintained 4-unit building, situated on an expansive ±24,000 square foot lot. The unit mix includes twelve spacious 2-bedroom / 1.5-bathroom apartments, each approximately 1,000 square feet, providing highly desirable layouts for tenants. The asset offers strong in-place fundamentals, including 18 off-street parking spaces, on-site laundry facilities, and private outdoor areas for each unit. Ownership has also recently completed a full window replacement across the property, reducing future capital expenditure needs. Currently, all units are leased on a month-to-month basis at rents significantly below market, presenting a clear and achievable value-add opportunity. With an estimated 35% rental upside, an investor can implement a strategic renovation program to modernize interiors, increase rents, and stabilize the asset to achieve strong cash flow and long-term appreciation. This is a rare chance to acquire a scale multifamily property in a supply-constrained coastal submarket with immediate upside potential. Opportunities of this size and proximity to the beach are seldom available—this is one you do not want to miss.
Location
State CA
County San Diego
Community Other/Remarks
Area South Bay
Interior
Heating Wall
Cooling Other
Flooring Other/Remarks
Fireplace No
Laundry Owned
Exterior
Parking Features Spaces
View Y/N No
Roof Type Composition
Total Parking Spaces 18
Building
Story 1
Others
Senior Community No
Tax ID 626-302-21,22,23
Virtual Tour https://www.propertypanorama.com/instaview/snd/260010914
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Listed by Josh Browar, DRE#01824454 The Browar Group
Nearby School & Business
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Glen Henderson
Broker Associate | CA BRE #01384181
Broker Associate CA BRE #01384181
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