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$ 3,750,000
Est. payment /mo
Active
739 Florida Street Imperial Beach, CA 91932
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 260010914SD
HOA Y/N No
Property Sub-Type Mixed Use
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
Area 91932 - Imperial Beach
Interior
Heating Wall Furnace
Fireplace No
Exterior
Roof Type Composition
Total Parking Spaces 18
Others
Tax ID 62630221,22,23
Virtual Tour https://www.propertypanorama.com/instaview/snd/260010914
Listed by Josh Browar The Browar Group #01824454