Brokerage
Brokerage
812-16 Florida Street
812 Florida Street, Imperial Beach, CA, USA
Sold
$815,000
2024.5.1
Value-add Three-unit Residential Income Property
Property Type
Multifamily
Units
3
SqFt
2,264
Price
$815,000
Price/Unit
$458,333
Year Built
1965
Market
Imperial Beach
Price/SF
$607
Cap Rate
1.14%
GRM
33.21
Unit Mix
(3) 2bed/1bath
Property Description
Top Gun CRE is pleased to present 812-16 Florida St, a value-add three-unit residential income property located in the vibrant community of Imperial Beach, CA.
This offering consists of a duplex with two 2bed/1bath units that are approximately 768 square feet each, and a detached 2bed/1bath single-family home that is approximately 728 square feet, all on a substantial 7562 SF lot.
This property also features a large driveway with plenty of room for off-street parking. The true value of this property lies in its significant rental upside potential through interior unit renovations allowing new leases at market rates.
Situated in an enviable location close to alluring beaches and a vibrant community atmosphere, this property stands as an ideal venture for investors keen on realizing significant growth and enhancing value in a sought-after coastal market.