Two-Unit Residential Income
1226 Fern Imperial Beach, CA 91932
1226 Fern, Imperial Beach, CA, 91932
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For Sale
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Newly built 2024 two-unit property with attached ADU, private outdoor space, and separate entrances.
Property Size2,514 SF
Price / SF$476.93
Days on Market127
Property Features for 1226 Fern
General Information
- Standard status
- Active
- Size
- 2,514 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2024
Listing agency
Compass
(619) 254-7497
Listed by
Ken May · License #01260645
Source
Crexi
Added: Mar 18 Updated: Jul 20 at 6:55PM Checked: Jul 21 at 9:55AM
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 Compass
Investment Insights
Based on property information with market context.
Built in 2024, this two-unit residential income property is housed in a single building and features a main residence paired with an attached, fully permitted ADU. The main home offers a two-story layout with four bedrooms and three bathrooms, including two ensuite bedrooms upstairs, a primary suite with a walk-in closet, an upstairs laundry center, and an additional full bath serving two more bedrooms on the main level. The lower level also includes a separate stackable laundry center. An open great room connects the kitchen, dining, and living areas, and the home includes an attached two-car garage plus additional driveway parking.
The attached ADU is single-level and separated with its own private entrance, in-unit laundry, and a private yard. Each unit is street-front facing and includes its own private outdoor space with low-maintenance artificial turf and landscaping.
A variance has been granted for 2–4 units, providing flexibility in how the property is structured. The ADU has two bedrooms and one bathroom, and both units are described as having high ceilings, abundant natural light, and full appliance packages.
The attached ADU is single-level and separated with its own private entrance, in-unit laundry, and a private yard. Each unit is street-front facing and includes its own private outdoor space with low-maintenance artificial turf and landscaping.
A variance has been granted for 2–4 units, providing flexibility in how the property is structured. The ADU has two bedrooms and one bathroom, and both units are described as having high ceilings, abundant natural light, and full appliance packages.
Key Highlights
- Built in 2024: two homes/one building with a fully permitted attached ADU and variance granted for 2–4 units
- Main home: 4BD/3BA with approx. 1,914 SF and a two‑story layout with two ensuite bedrooms upstairs
- Attached ADU: 2BD/1BA with approx. 600 SF, single‑level, private entrance, yard, and in‑unit laundry
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.9k | $27.00 |
| − Vacancy | −$3.5k | −$1.40 |
| EGI | $64.3k | $25.60 |
| − OpEx | −$19.3k | −$7.68 |
| NOI | $45.0k | $17.92 |
2,514 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$643.5K
$563.1K – $750.7K
NOI $45,044 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$596.7K
$522.1K – $696.2K
NOI $41,771 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,628 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Newly built 2024 two-unit property with attached ADU, private outdoor space, and separate entrances.
Where is this duplex located?
The property is located at 1226 Fern Imperial Beach, CA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Built in 2024: two homes/one building with a fully permitted attached ADU and variance granted for 2–4 units; Main home: 4BD/3BA with approx. 1,914 SF and a two‑story layout with two ensuite bedrooms upstairs; Attached ADU: 2BD/1BA with approx. 600 SF, single‑level, private entrance, yard, and in‑unit laundry
