1031 Imperial Beach Blvd., Imperial Beach CA, 91932

Sold

1031 Imperial Beach Blvd.

Imperial Beach CA, 91932

$19,000,000

$416.78 per sqft

Sold

7 Beds

45,588 sqft

Commercial

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.

230003007

MLSⓇ ID

February 15, 2023

Listed

November 23, 2024

Updated

Map

1031 Imperial Beach Blvd.
Imperial Beach CA, 91932

Interior Features

Total Stories: 2
Bedrooms: 7
Appliances: Dishwasher, Range, Refrigerator, Disposal
Fireplace: No
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 1.28 Acres

Other Property Details

Area Name: South Bay
Days on Market: 35
Garage: No
Parking: Spaces
Parking Total: 79
View: No
County: San Diego
Pool: No
Zoning: R-3 RM

Listing History

Date	Event	Price
6/7/2023	Sold	$19,000,000

Listed by Marcus & Millichap, Thomas McCartin,
Listing Contact: 858-373-3100

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Data last updated 12:08 AM UTC, 11/23/2024