NOT LISTED FOR SALE
5 Beds
2 Baths
-- Sq Ft
0.37 Acres

Last Sold April 25, 2024

Last sale price $894,000

38 Days on Market

About This Home

As of April 2024

Welcome to an exciting investment opportunity in the heart of San Diego’s Imperial Beach neighborhood, California. This redevelopment project offers a prime location in this coastal community, where the sun, surf, and sand are just moments away. There are currently 2 detached units; a 3 bedroom 1 bathroom, and a 2 bedroom 1 bathroom. Prime Location: Situated in the desirable city of San Di-ego, this redevelopment project offers proximity to the beach, local amenities, and the relaxed Southern California lifestyle. RM-1-1 Zoning: The property boasts RM-1-1 zoning, al-lowing for medium-density residential development, making it an ideal canvas for your multifamily project vision. Spacious Lot: With a generous lot size of 16,370 square feet, there is ample space to create a well-designed and spacious living environment for future residents. Development Potential: 6 Dwelling Units (DU) complemented by ±26 Accessory Dwelling Units (ADUs), culminating in a total of 34 total units. TPA Site: San Diego’s zoning codes may allow developers in TPAs to provide fewer parking spaces per unit or square footage of commercial space. This reduction can significantly lower construction costs, as building and maintaining parking facilities can be expensive. This is a remarkable opportunity for developers and investors to create a thriving multifamily residential development in Imperial Beach’s charming coastal setting.

Last Agent to Sell the Property

Aaron Marcusmillichap

Marcus & Millichap License #01318320 Listed on: 11/30/2023

Last Buyer's Agent

Aaron Marcusmillichap

Marcus & Millichap License #01318320 Listed on: 11/30/2023

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1960

Lot Details

  • 0.37

Home Design

  • Clay Roof

Additional Features

  • 1-Story Property
  • Property is Fully Fenced

Listing and Financial Details

  • Tenant pays for trash, water, electricity, gas/propane
  • Assessor Parcel Number 627-062-02-00

Community Details

Overview

  • 3 Buildings
  • 2 Units
  • Imperial Beach Community

Building Details

  • Net Operating Income $30,000

Property Details

Home Type

Multi-Family

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: South Bay
  • Cross Street: Saturn Blvd
  • Neighborhood: Imperial Beach
  • Stories: 1 Story
  • Sale Price List Price: 0.85
  • Total Stories: 1
  • Year Built: 1960
  • Allow Comments Review: Yes
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Wood/Stucco
  • Fencing: Full
  • Roof: Tile/Clay

Utilities

  • Cooling: Central Forced Air

Condo/Co-op/Association

  • Complex Name: Imperial Beach
  • Community: IMPERIAL BEACH

Lot Info

  • Lot Size: .25 to .5 AC
  • Assessor Parcel Number: 627-062-02-00

Rental Info

  • Tenant Pays: Trash, Water, Electricity, Gas/Propane

Multi Family

  • No. of Units: 2
  • Actual Net Operating Income: 30000
  • Annual Expense Actual: 5754
  • Gross Rent Multiplier Actual: 35.0
  • Gross Sched Income Actual: 35000
  • Number Of Buildings: 3
  • Number Of Units With Cooling: 2
  • Number Of Units With Dishwashers: 2
  • Number Of Units With Dryers: 2
  • Number Of Units With Fireplaces: 2
  • Number Of Units With Garage: 1
  • Number Of Units With Range Oven: 2
  • Number Of Units With Refrigerator: 2
  • Number Of Units With Washers: 2

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/25/2024 04/25/24 Sold $894,000 -14.9% --
01/08/2024 01/08/24 Pending -- -- --
12/21/2023 12/21/23 For Sale $1,050,000 0.0% --
12/12/2023 12/12/23 Pending -- -- --
11/30/2023 11/30/23 For Sale $1,050,000 +81.0% --
12/23/2019 12/23/19 Sold $580,000 -3.3% --
09/17/2019 09/17/19 Pending -- -- --
06/26/2019 06/26/19 For Sale $600,000 -- --
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Diego MLS

MLS Number: 230023197

San Diego MLS

APN: 627-062-02-00