Apartment Building Portfolio with Updated
For Sale
$1,100,000
514 N Imperial Ave, Imperial, CA 92251
Residential Income, Imperial, CA
Property Size5,600 SF
Lot Size0.30 Acres
Price / SF$196.43
Days on Market8
Property Features for 514 N Imperial Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
16
Bathrooms
8
Full bathrooms
5
Rooms
Bedroom 8, Bedroom 7, Bedroom 12, Bathroom 7, Bathroom 2, Bathroom 4, Bedroom 2, Bedroom 9, Bedroom 14, Bedroom 1, Bathroom 8, Bathroom 5, Bedroom 10, Bedroom 11, Bedroom 13, Bedroom 16, Bedroom 3, Bedroom 5, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 15, Bedroom 4, Bathroom 6
Parking
12
Parking features
Assigned, Covered
Directions
Cross streets are Imperial Ave and 13th St in the City of Imperial
Subdivision
580
Standard status
Active
APN
063-223-004-000
Size
5,600 SF
Lot size
0.30 Acres
Utilities
Heating system
Central
Amenities
washer/dryer hookups
Building Details
Year built
1974
Floors in Building
1
Number of units
8
Flooring type
Carpet, Linoleum
Roof type
Asphalt
Listing Agency:
Gold Key Real Estate
(442) 204-0928
Listed By:
Amy Volmer · License #01492304
(442) 204-0928
Added: Aug 14
Changed: Aug 19
Last Checked: Aug 21 at 9:06PM
MLS# 26871291IC
Copyright © 2026 Imperial County Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property comprises four duplexes with eight total units and 5,600 square feet of building area on 0.298 acres. Each unit includes two bedrooms and one bathroom, along with exterior washer/dryer hookups. The units have newer roofs, updated A/C systems, dual-pane windows, carpet and linoleum flooring, central heating, and covered assigned parking. Built in 1974, the property carries R3 zoning and all units are tenant-occupied.
The property is positioned along the Imperial parade route and the street hosting the Imperial Farmers Market. Starbucks, McDonald's, local eateries, Ben Hulse Elementary, Frank Wright Middle School, and Imperial High School are located within blocks. Showings are by appointment, with occupants in place.
The property is positioned along the Imperial parade route and the street hosting the Imperial Farmers Market. Starbucks, McDonald's, local eateries, Ben Hulse Elementary, Frank Wright Middle School, and Imperial High School are located within blocks. Showings are by appointment, with occupants in place.
Key Highlights
- Four duplexes comprising eight total units
- 5,600 square feet on 0.298 acres
- Each unit has two bedrooms and one bathroom
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
$46,462
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
4.22%
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%
$929,240
$929.2K
Cap Rate 7%
$663,743
$663.7K
Cap Rate 9%
$516,244
$516.2K
Market Conditions
NOI Build-Up for 5,600 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
$87.4K $15.60/SF
− Vacancy
−$2.9K −$0.51/SF
EGI
$84.5K $15.09/SF
− OpEx
−$38.0K −$6.79/SF
NOI
$46.5K $8.30/SF
Area
Imperial County, CA
Vacancy
3.30%
Lease Rate
$15.60 /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%
$929,240
Cap Rate 7%
$663,743
Cap Rate 9%
$516,244
Alternative Uses
Best Use
Apartment 5plus
$663.7K
$580.8K – $774.4K
NOI $46,462 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $99,994 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Explore this area
Business Placement
Demographics for 92251, CA
25,851
Population
7,719
Households
3.3
Avg Household Size
34
Median Age
17%
College-Educated
78%
High-School Grad
247.4 sq mi
ZIP Area
104
Density / Sq Mi
$83,709
Median Household Income
$48,596
Median Earnings
$1,378
Median Rent
$350,100
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?
Apartment building - Tenant-occupied duplex units offer two-bedroom layouts, central heating, and exterior washer/dryer hookups.
Where is this apartment building located?
The property is located at 514 N Imperial Ave Imperial, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four duplexes comprising eight total units; 5,600 square feet on 0.298 acres; Each unit has two bedrooms and one bathroom
