Imperial Beach Income
For Sale
$1,375,000
777 Cypress Avenue, Imperial Beach, CA 91932
Three-unit income property in desirable coastal community.
Property Size2,266 SF
Price / SF$606.80
Days on Market177
Property Features for 777 Cypress Avenue
General Information
Standard status
Active
Size
2,266 SF
Total Parking Spaces
3
Property subtype
Residential Income
Zoning
R-3000-D Two-Family Detached Residential
Net Operating Income
$72,235
Building Details
Year Built
1959
Buildings
2
Units
3
Listing Agency:
Gene Bowman Realty
(619) 207-7601
Listed By:
Christian Ballow · License #02046669
(619) 207-7601
Source:
Compass
Added: Mar 7
Changed: Aug 23
Last Checked: Aug 30 at 10:56PM
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 Gene Bowman Realty
Investment Insights
Based on property information with market context.
This three-unit income property is located in Imperial Beach, a desirable coastal community in San Diego County. Two units are currently occupied and generating rental income. The third unit is vacant and available for rental at current market rates or for use as a primary residence. The two income-producing units can offset carrying costs for an owner-occupant. Imperial Beach attracts rental demand due to its beach access, walkable neighborhood, and connectivity to Coronado, Chula Vista, and downtown San Diego. It remains one of the more accessible coastal markets in the county, which keeps vacancy low and retention high. This property is suitable for investors seeking a stabilized coastal asset or buyers looking to build equity.
Key Highlights
- Consistent rental income from two occupied units.
- Vacant third unit offers flexibility for owner‑occupancy or rental income.
- Potential for owner‑occupancy with rental income offsetting costs.
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
$40,600
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
2.95%
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%
$812,000
$812.0K
Cap Rate 7%
$580,000
$580.0K
Cap Rate 9%
$451,111
$451.1K
Market Conditions
NOI Build-Up for 2,266 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
$61.2K $27.00/SF
− Vacancy
−$3.2K −$1.40/SF
EGI
$58.0K $25.60/SF
− OpEx
−$17.4K −$7.68/SF
NOI
$40.6K $17.92/SF
Area
San Diego County, CA
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$812,000
Cap Rate 7%
$580,000
Cap Rate 9%
$451,111
Alternative Uses
Best Use
Multifamily LT 5
$580.0K
$507.5K – $676.7K
NOI $40,600 @ 7.0% cap · market cap 2.95%
Second Best
Apartment 5plus
$537.9K
$470.6K – $627.5K
NOI $37,651 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$1.04M
$908.4K – $1.21M
NOI $72,674 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
685
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?
Triplex - Three-unit income property in desirable coastal community.
Where is this triplex located?
The property is located at 777 Cypress Avenue Imperial Beach, CA.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Consistent rental income from two occupied units.; Vacant third unit offers flexibility for owner‑occupancy or rental income.; Potential for owner‑occupancy with rental income offsetting costs.
