Five-Unit Apartment
New
For Sale
$2,600,000
1240-70 Holly Ave Imperial, Imperial Beach, CA 91932
Detached residences offer private front and rear yards, with garage or covered-carport parking serving each home.
Property Size5,260 SF
Lot Size0.67 Acres
Days on Market3
Property Features for 1240-70 Holly Ave Imperial
General Information
Standard status
Active
Size
5,260 SF
Net Rentable
5,260 SF
Total Parking Spaces
5
Lot size
0.67 Acres
Property subtype
Other Special Purpose
Zoning
R 3000
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA, 2 x 3BR/1BA, 1 x 2BR/2BA
Multifamily Units
5
Building Details
Building Size
5,260 SF
Year Built
1960
Buildings
5
Listing Agency:
BERKSHIRE HATHAWAY HOME SERVICES
(760) 805-6300
Listed By:
Thomas Rico
(760) 805-6300
Source:
Thebrokerlist
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 11 at 4:40AM
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 BERKSHIRE HATHAWAY HOME SERVICES
Investment Insights
Based on property information with market context.
This multifamily property contains five detached, single-family-style residences totaling approximately 5,260 rentable square feet, along with a substantial rear storage structure. The unit mix comprises two two-bedroom, one-bath homes of roughly 860 square feet each, two three-bedroom, one-bath homes of about 1,008 square feet each, and one two-bedroom, two-bath residence measuring approximately 1,524 square feet. Each home includes front and rear yard areas. Parking consists of four single-car garages and one covered carport. Improvements completed over time include painting, flooring, selected plumbing and electrical work, roof replacement and maintenance, refreshed kitchen and bath surfaces, wall heaters, and fencing. One residence is vacant and ready for leasing, while another is occupied month to month.
The approximately 0.67-acre site is west of Interstate 5 and about two miles from the Pacific Ocean. R-3000 zoning allows detached and attached dwelling units at a maximum density of 14 units per acre; the stated site area supports a maximum of nine dwelling units, subject to applicable approvals. Access is provided through driveways only.
The approximately 0.67-acre site is west of Interstate 5 and about two miles from the Pacific Ocean. R-3000 zoning allows detached and attached dwelling units at a maximum density of 14 units per acre; the stated site area supports a maximum of nine dwelling units, subject to applicable approvals. Access is provided through driveways only.
Key Highlights
- Five detached residences totaling approximately 5,260 rentable square feet
- Unit mix includes two 2‑bedroom/1‑bath, two 3‑bedroom/1‑bath, and one 2‑bedroom/2‑bath homes
- Approximately 0.67‑acre site with R‑3000 zoning
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
$87,398
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
3.36%
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%
$1,747,960
$1.7M
Cap Rate 7%
$1,248,543
$1.2M
Cap Rate 9%
$971,089
$971.1K
Market Conditions
NOI Build-Up for 5,260 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
$167.3K $31.80/SF
− Vacancy
−$8.4K −$1.59/SF
EGI
$158.9K $30.21/SF
− OpEx
−$71.5K −$13.59/SF
NOI
$87.4K $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%
$1,747,960
Cap Rate 7%
$1,248,543
Cap Rate 9%
$971,089
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,398 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,697 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
394
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Detached residences offer private front and rear yards, with garage or covered-carport parking serving each home.
Where is this apartment building located?
The property is located at 1240-70 Holly Ave Imperial Imperial Beach, CA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Five detached residences totaling approximately 5,260 rentable square feet; Unit mix includes two 2‑bedroom/1‑bath, two 3‑bedroom/1‑bath, and one 2‑bedroom/2‑bath homes; Approximately 0.67‑acre site with R‑3000 zoning
