1164-66 Ivy Lane

    Imperial Beach, CA 91932
    • $1,995,000
    • STATUS: ACTIVE
    • ON SITE: 75 days
    • ID#: 190043044
    UPDATED: 192 min ago
    $1,995,000
    • 15
      BEDS
    • 0.42
      ACRES
    • 9
      BATHS
    • 1
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    This 6-unit apartment building sits at the end of Ivy Lane. Units consists of 5,542 rentable square feet and is situated on 18,000+ square foot lot. Features include 11 garages, 4 storage units and 15 open parking spaces with on-site laundry. The unit mix consists of (1) 4-bedroom/3 bath house, (1) 3-bedroom/2.5 bath townhome and (4) 2-bedroom/1bath units. Garages and storage units rent separately for added income. Imperial Beach is in high demand, these low maintenance units offer a 4.55 CAP rate and upside potential. This is a great opportunity to own units near the ocean and this price and cap rate. 3 of the units have yard areas, great mix and easy to rent. See Available brochure.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS, Inc. Licensed in the state of California.
    www.teamforss.com/homes/97558507

    1164-66 Ivy Lane Imperial Beach, CA 91932

    • Price: $1,995,000
    • Status: ACTIVE
    • Updated: 192 min ago
    • ID#: 190043044
    15
    Beds
    9
    Baths
    1
    ½ Baths
    0.42
    Acres
    Neighborhood:
    Imperial Beach (91932)
    County:
    San Diego
    Area:
    Imperial Beach (91932)
    Property Description
    This 6-unit apartment building sits at the end of Ivy Lane. Units consists of 5,542 rentable square feet and is situated on 18,000+ square foot lot. Features include 11 garages, 4 storage units and 15 open parking spaces with on-site laundry. The unit mix consists of (1) 4-bedroom/3 bath house, (1) 3-bedroom/2.5 bath townhome and (4) 2-bedroom/1bath units. Garages and storage units rent separately for added income. Imperial Beach is in high demand, these low maintenance units offer a 4.55 CAP rate and upside potential. This is a great opportunity to own units near the ocean and this price and cap rate. 3 of the units have yard areas, great mix and easy to rent. See Available brochure.
    Exterior Features

    Construction Stucco Exterior Wood Fence Lot Dimensions Approx 91X201 Parking GaragesSpaces Parking Spaces Total 26 Roof Composition

    Interior Features

    Heating Other/Remarks Laundry Owned Sq Ft Of Improvement 5546 Stories 1 Story2 Story Unit Furnished1 N Unit Furnished2 N Unit Furnished3 N Unit Furnished4 N Unit Furnished5 N Unit Furnished6 N Units With Dishwashers 6 Units With Disposals 6 Units With Drapes 0 Units With Ranges 6 Units With Refrigerators 6

    Property Features

    Actual Cap Rate 5.43 Actual Gas And Electric 2776 Actual Gross Operating Income 141416 Actual Gross Scheduled Income 136620 Actual Maintenance Expense 2980 Actual Operating Expense 33127 Actual Prop Management 7035 Actual Taxes Expense 11702 Actual Total Expense 33127 Actual Trash Expense 1932 Actual Vacancy And Credit Loss 3564 Actual Water Sewer Expense 2820 Assumable Finance 0 Buildings 4 Existing Financing Conventional Financial Information Source Owner Gross Equity 1200000 Gross Multiplier 14.60 Have 6 Units And 11 Garages Leased Apartments 6 Mandatory Remarks None Known Market Area South Bay Monthly Rent Total 11385 Motive Want Exchange Other Income Actual 8360 Other Income Amount 1942 Other Income Source Gar/Stg/W Present Loan 1000000 Projected Gross Multiplier 11.14 Projected Gross Scheduled Inc 179121 Projected Other Income 11740 Projected Taxes Expense 23441 Projected Total Expense 50115 Short Sale No Sq Ft Source Other/Remarks Tenant Pays Electric Y Tenant Pays Gas Y Tenant Pays Water Y Terms CashCash To New Loan Unit Number1 1 Unit Number2 1 Unit Number3 1 Unit Number4 1 Unit Number5 1 Unit Number6 1 Unit Rent Total1 2550 Unit Rent Total2 2195 Unit Rent Total3 1350 Unit Rent Total4 1295 Unit Rent Total5 1395 Unit Rent Total6 1250 Unit Rent1 2550 Unit Rent2 2195 Unit Rent3 1350 Unit Rent4 1295 Unit Rent5 1395 Unit Rent6 1250 Unit Type ApartmentOther/Remarks Zoning R-2000

    Listing provided courtesy of Compass. Listing information © 2019 San Diego MLS Inc. Source: SDMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS, Inc. Licensed in the state of California.
     
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