r
Seller's Agent in 2025
ray adams
Ray Adams Investment Real Estate Inc
(858) 546-5456
3 in this area
30 Total Sales
481 Palm Ave Imperial Beach, CA 91932
2
Beds
1
Bath
7,200
Sq Ft
0.28
Acres
About This Home
As of October 2025Offered for sale is a ten-unit residential income property located in the coastal community of Imperial Beach. This opportunity offers a desirable coastal location, preferred unit mix of all two-bedroom units, upgraded property, rent increase potential, recorded condo map, and attractive assumable financing. Residents enjoy convenient access to the beach, restaurants, shopping and local amenities. The neighborhood is a fun bikeable community with flat surface streets, beach vibes and the Bayshore Bike path that circles San Diego Bay. Imperial Beach is known for surfing and volleyball with a casual beach scene and year-round mild weather. Further, Imperial Beach has enjoyed rapid rent and value appreciation due to the military impact on this submarket. The Navy Seal training center at Silver Strand has expanded, bringing more employment and housing demand in addition to the Naval Outlying Landing Field Imperial Beach and other naval facilities in the submarket. The property offers an easy to maintain income property with many upgrades. The property has vinyl windows, six panel exterior doors, modern texture walls, washer/dryers in unit, individual water heaters, vinyl plank floors, upgraded appliances, granite countertops, 10 parking spaces, and ample off-street parking. The property has a recorded condo map and has increased value sold as condominiums. Finally, there is an existing assumable loan on the property at 3.06% fixed until November of 2026 with monthly interest only payments. Please drive by the property discreetly without disturbing the tenants or management.
Last Agent to Sell the Property
Ray Adams Investment Real Estate Inc License #00989238 Listed on: 04/10/2025
Property Details
Home Type
- Multi-Family
Lot Details
- 0.28 Acre Lot
Parking
- 10 Parking Spaces
Home Design
Interior Spaces
- 2 Bedrooms
- 7,200 Sq Ft Home
- 2-Story Property
Community Details
- 10 Units
- Operating Expense $87,850
Listing and Financial Details
- Total Actual Rent $21,290
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/27/2025 10/27/25 | Sold | $3,600,000 | -2.7% | $500 / Sq Ft |
| 08/18/2025 08/18/25 | Price Changed | $3,700,000 | -5.1% | $514 / Sq Ft |
| 06/04/2025 06/04/25 | Price Changed | $3,900,000 | -2.5% | $542 / Sq Ft |
| 04/16/2025 04/16/25 | For Sale | $4,000,000 | -- | $556 / Sq Ft |
Source: San Diego MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $46,008 | $3,572,025 | $2,489,593 | $1,082,432 |
| 2024 | $46,008 | $3,501,986 | $2,440,778 | $1,061,208 |
| 2023 | $45,603 | $3,433,320 | $2,392,920 | $1,040,400 |
| 2022 | $44,419 | $3,366,000 | $2,346,000 | $1,020,000 |
| 2021 | $37,263 | $2,748,831 | $1,787,003 | $961,828 |
| 2020 | $36,509 | $2,720,646 | $1,768,680 | $951,966 |
| 2019 | $35,682 | $2,667,300 | $1,734,000 | $933,300 |
| 2018 | $34,916 | $2,615,000 | $1,700,000 | $915,000 |
| 2017 | $140 | $1,300,000 | $628,000 | $672,000 |
| 2016 | $18,989 | $1,300,000 | $628,000 | $672,000 |
| 2015 | $19,246 | $1,300,000 | $628,000 | $672,000 |
| 2014 | $18,261 | $1,230,000 | $595,000 | $635,000 |
Source: Public Records
Agents Affiliated with this Home
-
ray adams
-
Jeff Rogoway
J
Buyer's Agent in 2025
Jeff Rogoway
Prime Property
(619) 322-3888
1 in this area
5 Total Sales
Map
Source: San Diego MLS
MLS Number: 250024667
APN: 625-241-01-00
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