Three-Unit Residential Income
1147-1151 Florence, Imperial Beach, CA 91932
For Sale
$999,000
A vacant three-bedroom front home is paired with two occupied one-bedroom residences, each separately metered for gas and electricity.
Property Size1,899 SF
Price / SF$526.07
Days on Market59
Property Features for 1147-1151 Florence
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Utilities to Site
Tenant in Place
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Otay Mesa Realty
Listed By:
Gregory A Dunn
(619) 794-5555
Source:
Findhomesinsandiegoarea
Added: Sep 12
Changed: Nov 8
Last Checked: Oct 26 at 1:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Otay Mesa Realty
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Investment Insights
Based on property information with market context.
Built in 1955, this three-unit residential property totals 1,899 square feet. The front residence is vacant and offers three bedrooms, one and a half bathrooms, hardwood floors, dual-pane windows, an attached garage with laundry hookups, and front and rear yards. Behind it, a separate building contains two one-bedroom, one-bathroom units, both occupied by long-term tenants. Each rear unit has alley access and off-street parking.
Gas and electricity are separately metered for all three residences, with tenants responsible for those utilities. The owner pays water and trash. The property is on Florence in Imperial Beach, with La Posta Market, the post office, and restaurants on IB Blvd within walking distance. Montessori Learning Academy is one block away, and bike lanes connect toward the pier and beach.
Gas and electricity are separately metered for all three residences, with tenants responsible for those utilities. The owner pays water and trash. The property is on Florence in Imperial Beach, with La Posta Market, the post office, and restaurants on IB Blvd within walking distance. Montessori Learning Academy is one block away, and bike lanes connect toward the pier and beach.
Key Highlights
- Three residences totaling 1,899 square feet
- Front home has 3 bedrooms, 1.5 bathrooms, an attached garage, and front and rear yards
- Rear building contains two 1‑bedroom, 1‑bathroom units, both occupied by long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,025
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$680,500
$680.5K
Cap Rate 7%
$486,071
$486.1K
Cap Rate 9%
$378,056
$378.1K
Market Conditions
NOI Build-Up for 1,899 SF
Gross rent
$51.3K $27.00/SF
− Vacancy
−$2.7K −$1.40/SF
EGI
$48.6K $25.60/SF
− OpEx
−$14.6K −$7.68/SF
NOI
$34.0K $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 Rate 5%
$680,500
Cap Rate 7%
$486,071
Cap Rate 9%
$378,056
Alternative Uses
Best Use
Multifamily LT 5
$486.1K
$425.3K – $567.1K
NOI $34,025 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$450.8K
$394.4K – $525.9K
NOI $31,553 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$870.1K
$761.3K – $1.02M
NOI $60,904 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
895
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
$811,000
Median Home Value
Market
Average Price Trend$/SF for Triplexes in San Diego County, CA
Properties on Market for Triplexes in San Diego County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - A vacant three-bedroom front home is paired with two occupied one-bedroom residences, each separately metered for gas and electricity.
Where is this triplex located?
The property is located at 1147-1151 Florence Imperial Beach, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three residences totaling 1,899 square feet; Front home has 3 bedrooms, 1.5 bathrooms, an attached garage, and front and rear yards; Rear building contains two 1‑bedroom, 1‑bathroom units, both occupied by long‑term tenants
