Detached Duplex with Private
For Sale
$875,000
1185-87 Georgia St, Imperial Beach, CA 91932
Residential Income, Imperial Beach, CA
Property Size1,736 SF
Price / SF$504.03
Days on Market38
Property Features for 1185-87 Georgia St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Exterior features
Alley Access, Public Street, Sidewalks, Street Paved, West of I-5
Subdivision
IMPERIAL BEACH
Standard status
Active
APN
633-032-15-00
Size
1,736 SF
Utilities
Heating system
Gravity
Amenities
private front and back yards
full privacy fencing
separate driveways
Building Details
Year built
1958
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 8:06AM
MLS# 260016302
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 property consists of two single-level, detached two-bedroom, one-bath homes on one lot. Each residence is configured as its own separate home with private front and back yards, enclosed by full privacy fencing. The two homes also have separate driveways, supporting independent access and day-to-day privacy.
Located at 1185-87 Georgia St in Imperial Beach, the setup is designed for straightforward ownership and management. The homes are separately metered for all utilities, with tenants paying their own utilities.
For tenants and buyers looking for a simple duplex-style arrangement, the property offers two distinct detached living spaces rather than shared interiors. The combination of separate driveways, private yard areas, and separately metered utilities can help streamline operations for an owner who prefers fewer shared utility obligations and clearer tenant responsibility.
Located at 1185-87 Georgia St in Imperial Beach, the setup is designed for straightforward ownership and management. The homes are separately metered for all utilities, with tenants paying their own utilities.
For tenants and buyers looking for a simple duplex-style arrangement, the property offers two distinct detached living spaces rather than shared interiors. The combination of separate driveways, private yard areas, and separately metered utilities can help streamline operations for an owner who prefers fewer shared utility obligations and clearer tenant responsibility.
Key Highlights
- 2 detached SFRs on one lot in Imperial Beach, each single level with 2 bedrooms and 1 bath
- Separately metered for all utilities, with tenants paying their own utilities
- Each home has private front and back yards with full privacy fencing and separate driveways
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
$31,104
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
3.55%
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%
$622,080
$622.1K
Cap Rate 7%
$444,343
$444.3K
Cap Rate 9%
$345,600
$345.6K
Market Conditions
NOI Build-Up for 1,736 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
$46.9K $27.00/SF
− Vacancy
−$2.4K −$1.40/SF
EGI
$44.4K $25.60/SF
− OpEx
−$13.3K −$7.68/SF
NOI
$31.1K $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%
$622,080
Cap Rate 7%
$444,343
Cap Rate 9%
$345,600
Alternative Uses
Best Use
Multifamily LT 5
$444.3K
$388.8K – $518.4K
NOI $31,104 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$412.1K
$360.6K – $480.8K
NOI $28,845 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$795.4K
$696.0K – $927.9K
NOI $55,676 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
959
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 - Two single-level detached residences on one lot, separately metered for utilities with private fenced yards.
Where is this duplex located?
The property is located at 1185-87 Georgia St Imperial Beach, CA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 2 detached SFRs on one lot in Imperial Beach, each single level with 2 bedrooms and 1 bath; Separately metered for all utilities, with tenants paying their own utilities; Each home has private front and back yards with full privacy fencing and separate driveways
