1193 Florence

    Imperial Beach, CA 91932
    • $3,100,000
    • STATUS: ACTIVE
    • ON SITE: 14 days
    • ID#: 190053939
    UPDATED: 5 min ago
    $3,100,000
    • 3
      BEDS
    • 0.21
      ACRES
    • 2
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    12 Units in Imperial Beach west of 13th Street. Great unit mix of 7-2BR/1BA units and 5-1BR/1BA units. All interiors have been cosmetically upgraded. New dual pane windows. New roof in 2017. The units feature spacious living room areas, large kitchens, 17 on-site parking spaces, large BBQ common area patio, and a laundry room for the tenants. The property is located just 12 blocks to the Pacific Ocean and Imperial Beach pier. Tenants enjoy the walkability to shops, restaurants, services, parks, and public transportation. Significant Rental Upside potential here.

    Monthly Payment Calculator

    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/99495299

    1193 Florence Imperial Beach, CA 91932

    • Price: $3,100,000
    • Status: ACTIVE
    • Updated: 5 min ago
    • ID#: 190053939
    3
    Beds
    2
    Baths
    0
    ½ Baths
    0.21
    Acres
    Neighborhood:
    Imperial Beach (91932)
    County:
    San Diego
    Area:
    Imperial Beach (91932)
    Property Description
    12 Units in Imperial Beach west of 13th Street. Great unit mix of 7-2BR/1BA units and 5-1BR/1BA units. All interiors have been cosmetically upgraded. New dual pane windows. New roof in 2017. The units feature spacious living room areas, large kitchens, 17 on-site parking spaces, large BBQ common area patio, and a laundry room for the tenants. The property is located just 12 blocks to the Pacific Ocean and Imperial Beach pier. Tenants enjoy the walkability to shops, restaurants, services, parks, and public transportation. Significant Rental Upside potential here.
    Exterior Features

    Construction DrywallFrameStucco Exterior Metal Fence Parking Spaces Parking Spaces Total 17 Roof Tar & Gravel

    Interior Features

    Floor Coverings VinylWall To Wall Carpet Floors Slab Heating Wall Laundry Leased Sq Ft Of Improvement 8324 Stories 2 Story Units With Refrigerators 12

    Property Features

    Actual Cap Rate 4.4 Actual Cash Flow 43863 Actual Gross Operating Income 205776 Actual Gross Scheduled Income 209976 Actual Operating Expense 68592 Actual Total Pi Pay 93322 Actual Vacancy And Credit Loss 4200 Assumable Finance 0 Buildings 2 Complex Features Other/Remarks Existing Financing Conventional Financial Information Source Owner Fiscal Year From 18 Fiscal Year To 19 Gross Equity 850000 Gross Multiplier 14.8 Have 12 Units in IB Mostly 2Br Mandatory Remarks None Known Market Area South Bay Monthly Rent Total 17288 Motive Want Sale Other Income Amount 210 Other Income Source Laundry Projected Cap Rate 5 Projected Gross Multiplier 13.5 Projected Gross Operating Inc 224498 Projected Gross Scheduled Inc 229080 Projected Net Income 62585 Projected Operating Expense 68592 Projected Other Income 250 Projected Vacancy And Credit Loss 4582 Short Sale No Special None Sq Ft Source Buyer To VerifyTax Record Tenant Pays Electric Y Tenant Pays Gas Y Tenant Pays Water N Terms CashCash To New Loan Unit Number1 5 Unit Number2 7 Unit Rent Total1 6200 Unit Rent Total2 11088 Unit Rent1 1240 Unit Rent2 1584 Unit Type Apartment

    Listing provided courtesy of Apartment Consultants, Inc.. 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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