Triplex with Off-Street
For Sale
$1,525,000
1221 Florida Street, Imperial Beach, CA 91932
Three two-bedroom units offer private storage and rear-alley access to designated parking.
Property Size2,574 SF
Days on Market61
Property Features for 1221 Florida Street
General Information
Standard status
Active
Size
2,574 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
R3000
Net Operating Income
$86,817
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Parking per Unit
2
Additional Details
Highway Access
Yes
Amenities
private storage
Curbs, Street Lights, Suburban, Sidewalks
Wall/Window Unit(s)
Wall Furnace
Dishwasher, Disposal, Gas Oven, Gas Range, Water Heater
Built-in Features
Neighborhood
Chain Link, Wood
Assigned, Concrete, Driveway
Lighting
Bungalow
Building Details
Building Size
2,574 SF
Year Built
1970
Buildings
3
Stories
1
Listing Agency:
eXp Realty of California, Inc.
Listed By:
Donald Mowery · License #01193547
(909) 981-6677
Source:
Evrealestate
Added: Aug 7
Changed: Sep 21
Last Checked: Oct 5 at 5:47PM
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 eXp Realty of California, Inc.
Investment Insights
Based on property information with market context.
Built in 1970, this triplex contains three separate residences with consistent two-bedroom, one-bath layouts. Each unit includes a living room, dining area, kitchen, and private storage space. Two designated off-street parking spaces serve each residence, with access from the rear alley. The property also includes an expansive yard.
The property is located on Florida St in Imperial Beach, near Oneonta Elementary School, the Imperial Beach Pier, beaches, shopping, and dining. Interstate 5 provides convenient regional access. Walk Score is 62, Bike Score is 43, and Transit Score is 47. Any future unit additions or ADU development would be subject to City approval and applicable zoning requirements.
The property is located on Florida St in Imperial Beach, near Oneonta Elementary School, the Imperial Beach Pier, beaches, shopping, and dining. Interstate 5 provides convenient regional access. Walk Score is 62, Bike Score is 43, and Transit Score is 47. Any future unit additions or ADU development would be subject to City approval and applicable zoning requirements.
Key Highlights
- Three individual units, each with 2 bedrooms and 1 bathroom
- Each residence includes a living room, dining area, and kitchen
- Two designated off‑street parking spaces per unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,119
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$922,380
$922.4K
Cap Rate 7%
$658,843
$658.8K
Cap Rate 9%
$512,433
$512.4K
Market Conditions
NOI Build-Up for 2,574 SF
Gross rent
$69.5K $27.00/SF
− Vacancy
−$3.6K −$1.40/SF
EGI
$65.9K $25.60/SF
− OpEx
−$19.8K −$7.68/SF
NOI
$46.1K $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 Rate 5%
$922,380
Cap Rate 7%
$658,843
Cap Rate 9%
$512,433
Alternative Uses
Best Use
Multifamily LT 5
$658.8K
$576.5K – $768.7K
NOI $46,119 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$611.0K
$534.6K – $712.8K
NOI $42,768 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,553 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
440
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom units offer private storage and rear-alley access to designated parking.
Where is this triplex located?
The property is located at 1221 Florida Street Imperial Beach, CA.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: Three individual units, each with 2 bedrooms and 1 bathroom; Each residence includes a living room, dining area, and kitchen; Two designated off‑street parking spaces per unit
