Detached 3-Unit Residential Income
For Sale
Contact for pricing
Pending
1166 Imperial Beach Boulevard, Imperial Beach, CA 91932
Three fully detached 3-bedroom homes on one lot, each with a double car garage, in-unit laundry, and private outdoor space.
Property Size4,464 SF
Days on Market57
Property Features for 1166 Imperial Beach Boulevard
General Information
Standard status
Pending
Size
4,464 SF
Property subtype
Multifamily
Occupancy
100%
Investment Type
Value Add
Additional Details
Multifamily Units
3
Amenities
in-unit laundry
private backyard
dedicated patio area
Building Details
Year Built
1993
Buildings
3
Units
3
Tenancy
Multi
Listing Agency:
WHITEWATER Commercial Real Estate
Listed By:
Carson Trujillo · License #CA 01974818
(859) 433-8741
Source:
Crexi
Added: Jul 22
Changed: Aug 20
Last Checked: Sep 15 at 4:44AM
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 WHITEWATER Commercial Real Estate
Investment Insights
Based on property information with market context.
Built in 1993, this 3-on-1 residential income property is located on a single lot and consists of three fully detached two-story homes. Each home features a main-level layout with kitchen, living room, a half bathroom, and a full-size double car garage with parking in front, with three bedrooms located upstairs. Each home includes in-unit laundry and a private backyard plus a dedicated patio area.
The three units are described as largely original condition. Some homes have already been updated with newer kitchen appliances, including refrigerators and ranges, providing an opportunity for further interior renovation.
The property’s unit mix is three-bedroom, with 2.5 bathrooms per home, including a primary suite with an attached bathroom and two additional bedrooms sharing a full bathroom.
The three units are described as largely original condition. Some homes have already been updated with newer kitchen appliances, including refrigerators and ranges, providing an opportunity for further interior renovation.
The property’s unit mix is three-bedroom, with 2.5 bathrooms per home, including a primary suite with an attached bathroom and two additional bedrooms sharing a full bathroom.
Key Highlights
- Built in 1993: 3‑on‑1 investment property with three fully detached 3‑bedroom homes on a single lot in Imperial Beach, CA.
- Each home includes a full‑size double car garage with parking in front.
- Two‑story layout: kitchen, living room, half bath, and two‑car garage on the main level; three bedrooms upstairs.
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
$79,982
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
5.00%
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%
$1,599,640
$1.6M
Cap Rate 7%
$1,142,600
$1.1M
Cap Rate 9%
$888,689
$888.7K
Market Conditions
NOI Build-Up for 4,464 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
$120.5K $27.00/SF
− Vacancy
−$6.3K −$1.40/SF
EGI
$114.3K $25.60/SF
− OpEx
−$34.3K −$7.68/SF
NOI
$80.0K $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 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%
$1,599,640
Cap Rate 7%
$1,142,600
Cap Rate 9%
$888,689
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$999.8K – $1.33M
NOI $79,982 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$1.06M
$927.2K – $1.24M
NOI $74,172 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,168 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three fully detached 3-bedroom homes on one lot, each with a double car garage, in-unit laundry, and private outdoor space.
Where is this triplex located?
The property is located at 1166 Imperial Beach Boulevard Imperial Beach, CA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Built in 1993: 3‑on‑1 investment property with three fully detached 3‑bedroom homes on a single lot in Imperial Beach, CA.; Each home includes a full‑size double car garage with parking in front.; Two‑story layout: kitchen, living room, half bath, and two‑car garage on the main level; three bedrooms upstairs.
