Separately Metered Duplex with Private
For Sale
$850,000
914-16 Florence St, Imperial Beach, CA 91932
Residential Income, Imperial Beach, CA
Property Size1,448 SF
Price / SF$587.02
Days on Market38
Property Features for 914-16 Florence St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4
Exterior features
Alley Access, Public Street, West of I-5
Subdivision
IMPERIAL BEACH
Standard status
Active
APN
626-461-15-00
Size
1,448 SF
Amenities
fenced yards
Building Details
Year built
1957
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Keller Williams La Jolla · Keller Williams Realty
(858) 457-9400
Listed By:
Dennis Dillard · License #02010625
(858) 705-2170
Added: Jul 15
Changed: Aug 19
Last Checked: Aug 21 at 12:06PM
MLS# 260016494
Copyright © 2026 San Diego MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex provides two distinct two-bedroom, two-bath homes, configured and operated as three-bedroom, two-bath detached-style residences. The property includes large private, fully fenced back yards, along with partially fenced front yards for outdoor use. Utilities are separately metered for each unit, with tenants paying their own utilities, supporting straightforward day-to-day ownership and management.
Located at 914-16 Florence St in Imperial Beach, California (San Diego County), the homes offer a residential-income setup with a focus on private outdoor space. The layout is described as thoughtfully arranged, and the exterior presentation is supported by curb-appeal details noted in the remarks.
For tenants, the configuration provides an expanded three-bedroom feel within a detached-style experience, while still maintaining individual utility responsibility through separate metering. For buyers, the property’s separately metered structure and fenced yard areas can be attractive for those seeking a duplex where resident expenses are separated from ownership costs and where each household has meaningful private outdoor space.
Located at 914-16 Florence St in Imperial Beach, California (San Diego County), the homes offer a residential-income setup with a focus on private outdoor space. The layout is described as thoughtfully arranged, and the exterior presentation is supported by curb-appeal details noted in the remarks.
For tenants, the configuration provides an expanded three-bedroom feel within a detached-style experience, while still maintaining individual utility responsibility through separate metering. For buyers, the property’s separately metered structure and fenced yard areas can be attractive for those seeking a duplex where resident expenses are separated from ownership costs and where each household has meaningful private outdoor space.
Key Highlights
- Duplex built in 1957 in Imperial Beach, with separately metered utilities for each unit
- Thoughtfully laid out two‑bedroom, two‑bath homes, currently operated as three‑bedroom, two‑bath detached SFRs
- Large private, fully fenced back yards, plus partially fenced front yards for outdoor space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,944
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$518,880
$518.9K
Cap Rate 7%
$370,629
$370.6K
Cap Rate 9%
$288,267
$288.3K
Market Conditions
NOI Build-Up for 1,448 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.1K $27.00/SF
− Vacancy
−$2.0K −$1.40/SF
EGI
$37.1K $25.60/SF
− OpEx
−$11.1K −$7.68/SF
NOI
$25.9K $17.92/SF
Area
San Diego County, CA
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$518,880
Cap Rate 7%
$370,629
Cap Rate 9%
$288,267
Alternative Uses
Best Use
Multifamily LT 5
$370.6K
$324.3K – $432.4K
NOI $25,944 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$343.7K
$300.7K – $401.0K
NOI $24,059 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$663.4K
$580.5K – $774.0K
NOI $46,440 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
987
Businesses Nearby
Explore this area
Business Placement
Demographics for 91932, CA
26,013
Population
10,276
Households
2.5
Avg Household Size
35
Median Age
24%
College-Educated
85%
High-School Grad
4.3 sq mi
ZIP Area
6,050
Density / Sq Mi
$79,071
Median Household Income
$41,917
Median Earnings
$1,914
Median Rent
$811,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex featuring fenced private yards and separately metered utilities with tenants paying their own.
Where is this duplex located?
The property is located at 914-16 Florence St Imperial Beach, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Duplex built in 1957 in Imperial Beach, with separately metered utilities for each unit; Thoughtfully laid out two‑bedroom, two‑bath homes, currently operated as three‑bedroom, two‑bath detached SFRs; Large private, fully fenced back yards, plus partially fenced front yards for outdoor space
