Current Use by Public Records
- Apartment buildings
Property Details for 812-16 Florida St
- Year built
- 1965
- Property type
- Apartment buildings
Description
This fully renovated Imperial Beach triplex presents a compelling investment opportunity. The property, located at 812-16 Florida St, Imperial Beach, CA 91932, consists of three 2-bedroom, 1-bathroom units, each meticulously updated in 2024 with modern kitchens, bathrooms, flooring, and fixtures. Situated on a sizable 7,562 square foot lot, the property offers ample parking. The asking price is $1,270,000, representing a price per unit of $423,333.33 and a price per square foot of $590.15. The property boasts a pro-forma NOI of $61,511 and a pro-forma cap rate of 4.84%. Built in 1965, this stabilized investment property features two buildings, each one story high, and is zoned R-2000. The total square footage is 2,152. Two units currently command a monthly rent of $2,500 each, with the third unit available for immediate occupancy or owner use (pro-forma rent of $2500). Its prime location in the rapidly growing coastal community of Imperial Beach offers easy access to freeways, local amenities, and scenic trails, promising both immediate cash flow and significant long-term appreciation potential. This turnkey investment is ideal for those seeking a stable, high-return property in a desirable coastal market. The APN is 626-331-17-00.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Imperial Beach
- County
- San Diego
- State
- California
- Longitude
- -117.11
- Latitude
- 32.5819
