$19,000,000
$19,000,000
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1031 Imperial Beach Blvd. Imperial Beach, CA 91932
7 Beds
45,588 SqFt
Key Details
Sold Price $19,000,000
Property Type Single Family Home
Sub Type Com-Res Income
Listing Status Sold
Purchase Type For Sale
Square Footage 45,588 sqft
Price per Sqft $416
MLS Listing ID 230003007
Bedrooms 7
Property Sub-Type Com-Res Income
Property Description
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.
Location
State CA
County San Diego
Community Clubhouse, Rec Room
Area South Bay
Zoning R-3 RM
Exterior
Parking Features Spaces
View Y/N No
Building
Story 2
Read Less
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Bought with Thomas McCartin Marcus & Millichap
