Imperial Beach Multifamily Investment
For Sale
$1,599,995
Pending
562 564 11Th St, Imperial Beach, CA 91932
Multifamily property with assumable VA loan in quiet neighborhood.
Property Size3,450 SF
Days on Market131
Property Features for 562 564 11Th St
General Information
Standard status
Pending
Size
3,450 SF
Property subtype
Investment
Building Details
Year Built
1980
Stories
2
Units
3
Listing Agency:
Starker West
(619) 813-7583
Listed By:
Eric Lowe
(619) 813-7583
Source:
Elliman
Added: Apr 24
Changed: Aug 27
Last Checked: Aug 31 at 6:06PM
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 Starker West
Investment Insights
Based on property information with market context.
This multifamily investment property is located in a quiet North Imperial Beach neighborhood. The property is well-maintained and professionally managed with long-term, quiet tenants. It features alley access, separate entrances, and separated gas, electric, and water meters. The property consists of one 3-bedroom, 2-bathroom house of approximately 1,200 square feet and three 2-bedroom, 1-bathroom units, each approximately 750 square feet. Located one block from the Silver Strand Bikeway and within walking distance to Trident Coffee and Rad Power Bikes, the property is also two blocks from Palm Avenue, providing quick access to I-5, Coronado Island, and South Bay commercial hubs. The location has a walk score of 84, indicating it is very walkable, a bike score of 59, indicating it is bikeable, and a transit score of 45, indicating some transit options are available.
Key Highlights
- Assumable VA loan at 2.75%
- Multifamily investment property featuring a 3BD/2BA house and three 2BD/1BA units.
- Located in a desirable North Imperial Beach neighborhood
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
$57,323
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
3.58%
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%
$1,146,460
$1.1M
Cap Rate 7%
$818,900
$818.9K
Cap Rate 9%
$636,922
$636.9K
Market Conditions
NOI Build-Up for 3,450 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
$109.7K $31.80/SF
− Vacancy
−$5.5K −$1.59/SF
EGI
$104.2K $30.21/SF
− OpEx
−$46.9K −$13.59/SF
NOI
$57.3K $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%
$1,146,460
Cap Rate 7%
$818,900
Cap Rate 9%
$636,922
Alternative Uses
Best Use
Apartment 5plus
$818.9K
$716.5K – $955.4K
NOI $57,323 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,647 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
786
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with assumable VA loan in quiet neighborhood.
Where is this apartment building located?
The property is located at 562 564 11Th St Imperial Beach, CA.
What is the asking price?
The asking price for this property is $1,599,995.
What are key features of this property?
This property features: Assumable VA loan at 2.75%; Multifamily investment property featuring a 3BD/2BA house and three 2BD/1BA units.; Located in a desirable North Imperial Beach neighborhood
