Multi-Unit Residential Income
For Sale
Contact for pricing
Pending
943 Georgia Street, Imperial Beach, CA 91932
Multi-unit residential income property with a mix of recently remodeled units and new construction.
Property Size2,947 SF
Days on Market162
Property Features for 943 Georgia Street
General Information
Standard status
Pending
Size
2,947 SF
Property subtype
Multifamily
Zoning
Assessor
Building Details
Year Built
1980
Buildings
3
Stories
1
Units
4
Listing Agency:
Real Estate eBroker, Inc.
Listed By:
George Wood · License #01907938
(619) 820-7896
Source:
Crexi
Added: Mar 26
Changed: Aug 8
Last Checked: Jul 24 at 6:37PM
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 Real Estate eBroker, Inc.
Investment Insights
Based on property information with market context.
This multi-unit residential income property offers a combination of recently remodeled units and new construction. It’s set up as a legal multi-unit configuration, making it suitable for owners looking to generate rental income or accommodate extended-family living with separate units under the same property umbrella.
The property is located at 943 Georgia Street in Imperial Beach, California. It is currently offered for sale and is presented as move-ready for an owner-occupant or investor seeking a turnkey multi-unit setup.
As described, the value of the asset centers on its blend of updated interiors and newly constructed components within one multi-unit property.
The property is located at 943 Georgia Street in Imperial Beach, California. It is currently offered for sale and is presented as move-ready for an owner-occupant or investor seeking a turnkey multi-unit setup.
As described, the value of the asset centers on its blend of updated interiors and newly constructed components within one multi-unit property.
Key Highlights
- Multi‑unit residential income property with a mix of recently remodeled units and new construction
- Year built: 1980
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
$48,966
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
3.16%
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%
$979,320
$979.3K
Cap Rate 7%
$699,514
$699.5K
Cap Rate 9%
$544,067
$544.1K
Market Conditions
NOI Build-Up for 2,947 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
$93.7K $31.80/SF
− Vacancy
−$4.7K −$1.59/SF
EGI
$89.0K $30.21/SF
− OpEx
−$40.1K −$13.59/SF
NOI
$49.0K $16.62/SF
Area
San Diego County, CA
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$979,320
Cap Rate 7%
$699,514
Cap Rate 9%
$544,067
Alternative Uses
Best Use
Apartment 5plus
$699.5K
$612.1K – $816.1K
NOI $48,966 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,515 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,036
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?
Multifamily property - Multi-unit residential income property with a mix of recently remodeled units and new construction.
Where is this multifamily property located?
The property is located at 943 Georgia Street Imperial Beach, CA.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: Multi‑unit residential income property with a mix of recently remodeled units and new construction; Year built: 1980
