Closed
1031 Imperial Beach Blvd.
Imperial Beach CA, 91932
$19,000,000
Closed
Commercial
Listed by Thomas McCartin with Marcus & Millichap 858-373-3100
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.
230003007SD
MLSⓇ ID
February 14, 2023
Listed
May 9, 2024
Updated
Map
1031 Imperial Beach Blvd.
Imperial Beach CA, 91932
Interior Features
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
1.28 Acres
Other Property Details
Area Name
91932 - Imperial Beach
Days on Market
34
Garage
No
Parking Total
79
View
No
County
San Diego
Pool
No
Zoning
R-3 RM
Buyer Agency Compensation
1%
Listing Contact: 858-373-3100
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Data last updated on 5/9/2024 at 12:00 PM UTC