Individually Metered
For Sale
Contact for pricing
Pending
919-21 Georgia Street, Imperial Beach, CA 91932
Duplex with two 2-bedroom, 1-bath units and separately metered access, including gated rear driveway and parking.
Property Size2,000 SF
Days on Market151
Property Features for 919-21 Georgia Street
General Information
Standard status
Pending
Size
2,000 SF
Property subtype
Multifamily
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Buildings
1
Units
2
Listing Agency:
United Real Estate San Diego
Listed By:
Ryan Schuder · License #01900202
(619) 500-2020
Source:
Crexi
Added: Apr 9
Changed: Aug 8
Last Checked: Jul 25 at 2:50PM
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 United Real Estate San Diego
Investment Insights
Based on property information with market context.
This duplex offers two separately metered, occupied units with matching 2-bedroom, 1-bath layouts. Unit 921 has been updated with vinyl plank flooring, an open-concept living area, stainless steel appliances, and an upgraded bathroom with a tiled shower stall. Unit 921 also includes a functional outdoor laundry room and a newer water heater. Unit 919 features the same floorplan and is in need of some TLC.
Located at 919–21 Georgia Street in Imperial Beach, the property also includes a lengthy gated rear driveway and separate back alley parking. The rear access area may support additional tenants or future improvements, depending on how the site is developed.
Each unit is described as approximately 1,000 square feet, providing generous living space within the duplex configuration.
Located at 919–21 Georgia Street in Imperial Beach, the property also includes a lengthy gated rear driveway and separate back alley parking. The rear access area may support additional tenants or future improvements, depending on how the site is developed.
Each unit is described as approximately 1,000 square feet, providing generous living space within the duplex configuration.
Key Highlights
- IB duplex with two separately metered, occupied units—each unit is a 2 bed / 1 bath layout with approximately 1,000 sq ft
- Unit 921 updates include vinyl plank flooring, open‑concept living area, stainless steel appliances, and an upgraded bathroom with tiled shower stall
- Unit 921 includes a functional outdoor laundry room and a newer water heater
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
$35,834
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
4.54%
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%
$716,680
$716.7K
Cap Rate 7%
$511,914
$511.9K
Cap Rate 9%
$398,156
$398.2K
Market Conditions
NOI Build-Up for 2,000 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
$54.0K $27.00/SF
− Vacancy
−$2.8K −$1.40/SF
EGI
$51.2K $25.60/SF
− OpEx
−$15.4K −$7.68/SF
NOI
$35.8K $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%
$716,680
Cap Rate 7%
$511,914
Cap Rate 9%
$398,156
Alternative Uses
Best Use
Multifamily LT 5
$511.9K
$447.9K – $597.2K
NOI $35,834 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$474.7K
$415.4K – $553.9K
NOI $33,231 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$916.3K
$801.8K – $1.07M
NOI $64,143 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,036
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?
Duplex - Duplex with two 2-bedroom, 1-bath units and separately metered access, including gated rear driveway and parking.
Where is this duplex located?
The property is located at 919-21 Georgia Street Imperial Beach, CA.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: IB duplex with two separately metered, occupied units—each unit is a 2 bed / 1 bath layout with approximately 1,000 sq ft; Unit 921 updates include vinyl plank flooring, open‑concept living area, stainless steel appliances, and an upgraded bathroom with tiled shower stall; Unit 921 includes a functional outdoor laundry room and a newer water heater
