Sold
Closed
1031 Imperial Beach Blvd.
Imperial Beach CA, 91932
$19,000,000
Sold
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 15, 2023
Listed
November 22, 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
Listing Contact: 858-373-3100
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 11/22/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 11/22/2024 at 4:27 PM UTC