Five-Unit Multifamily
For Sale
$2,600,000
1240 70 Holly Avenue, Imperial Beach, CA 91932
Five-detached single-family-style residences on a 0.67-acre site, zoned R-3000 with parking garages and carport.
Property Size5,260 SF
Days on Market81
Property Features for 1240 70 Holly Avenue
General Information
Standard status
Active
Size
5,260 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$2,961
Building Details
Building Size
5,260 SF
Year Built
1960
Listing Agency:
Berkshire Hathaway HomeService
Listed By:
Thomas Rico · License #01198997
(760) 796-6300
Source:
Velocityrealtysd
Added: Jul 29
Changed: Oct 14
Last Checked: Oct 16 at 4:38PM
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 HomeService
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Investment Insights
Based on property information with market context.
1240–1270 Holly Avenue is a well-maintained five-unit multifamily property with five detached single-family-style residences, plus a large rear storage structure. The building area totals approximately 5,260 rentable square feet, supplemented by a 516-square-foot rear storage structure. The unit mix includes two 2-bedroom/1-bath units (approximately 860 square feet each), two 3-bedroom/1-bath units (approximately 1,008 square feet each), and one 2-bedroom/2-bath unit (approximately 1,524 square feet). Constructed circa 1960, the homes feature both front and rear yards. Parking includes four single-car garages and one covered carport.
The property has been selectively upgraded over time, including interior and exterior painting, new flooring, entry improvements, plumbing and drain line upgrades, replacement of water valves and fixtures, electrical fixture updates with GFCI outlet enhancements, one roof replacement with tune-ups on remaining roofs, refinished kitchen and bath surfaces, newer wall heaters, and updated fencing. Operationally, 1270 Holly is currently vacant in turn-key condition, and 1268 Holly is on a month-to-month basis.
Zoned R-3000, the property permits detached and attached dwelling units at a maximum density of 14 units per acre. With an approximate 0.67-acre footprint, the maximum permitted density is nine dwelling units, with potential for additional units through the State Density Bonus Law or Accessory Dwelling Units (ADUs), subject to municipal review. Interested parties may access the property via driveways only.
The property has been selectively upgraded over time, including interior and exterior painting, new flooring, entry improvements, plumbing and drain line upgrades, replacement of water valves and fixtures, electrical fixture updates with GFCI outlet enhancements, one roof replacement with tune-ups on remaining roofs, refinished kitchen and bath surfaces, newer wall heaters, and updated fencing. Operationally, 1270 Holly is currently vacant in turn-key condition, and 1268 Holly is on a month-to-month basis.
Zoned R-3000, the property permits detached and attached dwelling units at a maximum density of 14 units per acre. With an approximate 0.67-acre footprint, the maximum permitted density is nine dwelling units, with potential for additional units through the State Density Bonus Law or Accessory Dwelling Units (ADUs), subject to municipal review. Interested parties may access the property via driveways only.
Key Highlights
- Zoned R‑3000: up to 14 units per acre; maximum permitted density is nine units on an approximate 0.67‑acre site
- Five detached single‑family‑style residences totaling approximately 5,260 rentable square feet plus a 516‑square‑foot rear storage structure
- Unit mix: two 2 bed/1 bath (~860 SF each), two 3 bed/1 bath (~1,008 SF each), one 2 bed/2 bath (~1,524 SF)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,398
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Five-detached single-family-style residences on a 0.67-acre site, zoned R-3000 with parking garages and carport.
Where is this apartment building located?
The property is located at 1240 70 Holly Avenue 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: Zoned R‑3000: up to 14 units per acre; maximum permitted density is nine units on an approximate 0.67‑acre site; Five detached single‑family‑style residences totaling approximately 5,260 rentable square feet plus a 516‑square‑foot rear storage structure; Unit mix: two 2 bed/1 bath (~860 SF each), two 3 bed/1 bath (~1,008 SF each), one 2 bed/2 bath (~1,524 SF)
