Coastal 12-Unit Apartment
739-747 Florida Street Imperial Beach, CA 91932
739-747 Florida Street, Imperial Beach, CA, 91932
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For Sale
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Twelve 2-bedroom, 2-bath apartments across three adjacent parcels with 18 off-street parking spaces and on-site laundry.
Property Size12,000 SF
Lot Size0.55 Acres
Price / SF$312.50
Days on Market78
Property Features for 739-747 Florida Street
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Lot size
- 0.55 Acres
- Property subtype
- Multifamily
Listing agency
The Browar Group
(858) 414-4398
Listed by
Josh Browar · License #01824454
Source
Crexi
Added: May 6 Updated: Jul 21 at 8:19PM Checked: Jul 21 at 8:19PM
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 The Browar Group
Investment Insights
Based on property information with market context.
This 12-unit multifamily property is improved with three adjacent parcels, each featuring a well-maintained four-unit building. The unit mix consists of twelve 2-bedroom, 2-bath apartments, each approximately 1,000 square feet, and includes private outdoor areas for each unit.
The property provides 18 off-street parking spaces and on-site laundry facilities. Ownership has recently completed a full window replacement across the property, helping reduce near-term capital expenditure needs.
All units are currently leased on a month-to-month basis. The seller indicates rents are below market, with an estimated 35% rental upside associated with a renovation program intended to modernize interiors and stabilize the asset.
The property provides 18 off-street parking spaces and on-site laundry facilities. Ownership has recently completed a full window replacement across the property, helping reduce near-term capital expenditure needs.
All units are currently leased on a month-to-month basis. The seller indicates rents are below market, with an estimated 35% rental upside associated with a renovation program intended to modernize interiors and stabilize the asset.
Key Highlights
- 12‑unit multifamily at 739–747 Florida Street: three adjacent parcels with a 4‑unit building on each parcel
- All units are 2 bed / 2 bath, about 1,000 SF per apartment
- Set on an approximately 24,000 SF lot with 18 off‑street parking spaces
Local Financial Insights For Apartment 5plus
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 | $381.6k | $31.80 |
| − Vacancy | −$19.1k | −$1.59 |
| EGI | $362.5k | $30.21 |
| − OpEx | −$163.1k | −$13.59 |
| NOI | $199.4k | $16.62 |
12,000 SF · lease $31.80/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.85M
$2.49M – $3.32M
NOI $199,386 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.50M
$4.81M – $6.41M
NOI $384,860 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Twelve 2-bedroom, 2-bath apartments across three adjacent parcels with 18 off-street parking spaces and on-site laundry.
Where is this apartment building located?
The property is located at 739-747 Florida Street Imperial Beach, CA.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 12‑unit multifamily at 739–747 Florida Street: three adjacent parcels with a 4‑unit building on each parcel; All units are 2 bed / 2 bath, about 1,000 SF per apartment; Set on an approximately 24,000 SF lot with 18 off‑street parking spaces
