$1,715,000
$60K PRICE DROP

Estimated payment $11,105/month

Total Views 4,275
6 Beds
5 Baths
2,835 Sq Ft
$605 Price per Sq Ft

Highlights

  • Corner Lot
  • Partially Fenced Property
  • 3-minute walk to Teeple Park
  • Laundry Facilities
  • West of 5 Freeway

About This Home

We are thrilled to present for sale the Six (6) Unit apartment property at 637 10th Street, in the Dolphin Bay area of Imperial Beach, within close proximity to the Bayshore Bikeway, and easy access to several neighborhood shopping centers and Silver Strand. There are: Four (4) spacious 1-bedroom/1-bathroom units; and Two (2) large 3-bedroom/2-bathroom units. Select units have private outdoor areas, and/or have been upgraded with vinyl plank flooring and updated kitchens and bathrooms. The property is on a corner lot and boasts eleven (11) surface off-street parking spaces, as well as a separate laundry room on-site. Pricing reflects a low $446/SF of rentable building area, suggesting good upside via continued modernization efforts, sufficient to justify upper end market rents for the immediate area. Built of wood frame construction upon a concrete on grade foundation, with flat roof and stucco exterior, apartments all have screen doors and aluminum frame windows. The apartment building is separately metered for electricity and master metered for gas. Inside, the units have ceiling fans/light fixtures, radiant heat, and standard appliance packages. An opportunity exists to modernize the apartments with higher quality finishes, fixtures and appliances, sufficient to justify upper end rents for the area, in line with upgraded units nearby. Owned by the same family for around 20 years, this is a rare opportunity with upside in the desirable northerly Dolphin Bay area of IB, near the Bayshore Bikeway and Silver Strand. Close proximity to the beach and its ever improving dining/brewery/retail scene is also a plus!

Listing Agent

Joseph Burrough

Palma Commercial License #02014504 Listed on: 06/19/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1978

Lot Details

  • Partially Fenced Property
  • Corner Lot
  • Level Lot

Parking

  • Alley Access

Home Design

  • Rolled or Hot Mop Roof
  • Stucco Exterior

Utilities

  • Radiant Heating System
  • Separate Water Meter
  • Gas Water Heater

Additional Features

  • 2-Story Property
  • West of 5 Freeway

Community Details

  • 6 Units
  • Laundry Facilities
  • Net Operating Income $83,740

Listing and Financial Details

  • Assessor Parcel Number 626-222-27-00

Property Details

Home Type

Multi-Family

Year Built

Built in 1978

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: South Bay
  • Cross Street: Calla Ave.
  • Neighborhood: Dolphin Bay
  • Supplement: Built of wood frame construction upon a concrete on grade foundation, with flat roof and stucco exterior, apartments all have screen doors and aluminum frame windows. The apartment building is separately metered for electricity and master metered for gas. Inside, the units have ceiling fans/light fixtures, radiant heat, and standard appliance packages. An opportunity exists to modernize the apartments with higher quality finishes, fixtures and appliances, sufficient to justify upper end rents for the area, in line with upgraded units nearby. Owned by the same family for around 20 years, this is a rare opportunity with upside in the desirable northerly Dolphin Bay area of IB, near the Bayshore Bikeway and Silver Strand. Close proximity to the beach and its ever improving dining/brewery/retail scene is also a plus!
  • LP / Sq Ft: 15.27
  • Stories: 2 Story
  • Total Stories: 2
  • Year Built: 1978
  • Allow Comments Review: No
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Prkng Non Garage Spac U1: 11
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Stucco
  • Fencing: Partial
  • Roof: Rolled/Hot Mop

Utilities

  • Sewer/Septic: Sewer Connected
  • Water: Meter on Property
  • Water Heater Type: Gas
  • Heat Equipment: Radiant

Condo/Co-op/Association

  • Community: IMPERIAL BEACH
  • Complex Features: Laundry Facilities

Lot Info

  • Lot Size: 7,500-10,889 SF
  • Site: Alley Access, Corner Lot, West of I-5
  • Topography: Level
  • Assessor Parcel Number: 626-222-27-00

Rental Info

  • Tenant Pays: Electricity, Gas/Propane

Multi Family

  • No. of Units: 6
  • Actual Net Operating Income: 83740
  • Annual Expense Actual: 57686
  • Gross Rent Multiplier Actual: 12.23
  • Gross Sched Income Actual: 145800
  • Number Of Buildings: 1
  • Number Of Units With Cooling: 6
  • Number Of Units With Patios: 3
  • Number Of Units With Range Oven: 6
  • Number Of Units With Refrigerator: 6
  • Other Income Actual: 5520

Map

Range of Values:

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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
07/25/2025 07/25/25 Price Changed $1,715,000 -3.4% $605 / Sq Ft
06/19/2025 06/19/25 For Sale $1,775,000 -- $626 / Sq Ft
Source: San Diego MLS

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Source: San Diego MLS

MLS Number: 250031120

San Diego MLS

APN: 626-222-27-00