This Multifamily Property is Off-Market.

710 Emory St.
Imperial Beach, CA 91932 ·

9 Units · Multifamily For Sale

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Sand Piper I

Price N/A Gross Rent Multiplier 11.84
No. Units 9 No. Stories 2
Building Size 7,072 SF Year Built 1986
Property Type Multifamily Lot Size 0.26 AC
Property Sub-type Garden/Low-Rise APN / Parcel ID 626-281-11-00
Property Use Type Investment Parking Ratio 1.55 / 1,000 SF
Cap Rate 5.57%
Listing ID: 15828612 Date Created: 07/31/2008 Last Updated: 11/13/2008

Description

Marcus & Millichap is pleased to offer for sale, Sand Piper I Apartments, a nine unit apartment complex located on Emory Street in the City of Imperial Beach. Built in 1986, the subject property is situated on .26 acres. The property is comprised entirely of twobedroom, one-bath units totaling approximately 7,072 rentable square feet. The complex consists of one 2-story frame and stucco building, with a concrete slab foundation and pitched roof. Residents also enjoy the on-site modern laundry facilities, garages, and open parking.
This pristine property is an opportunity for an investor to purchase a solid investment in an irreplaceable location. The new owner will enjoy the security of having the property situated amongst comparable apartment complexes, local shopping, restaurants, as well as being just blocks from the beach. With significant upside in rents, this offering is perfect for a long term investor seeking a pride of ownership property.

Sand Piper I Apartments is located on Emory Street in Imperial Beach. The "modern" history of Imperial Beach started about June 1887 when R. R. Morrison a real estate developer, filed a subdivision map with the San Diego County Clerk. The map referred to the area as South San Diego Beach. The area it encompassed was 5th Street to 13th Street north of Palm Avenue and from about 9th Street to 17th Street between Palm Avenue and (what today is) Imperial Beach Blvd. This included areas that have since been annexed by San Diego and which were formerly called Palm City. Imperial Beach claims the distinction of being the "Most Southwesterly City - in the continental United States." The City is located in the Southwest corner of San Diego County, only five miles from the Mexican Border and 11 miles from downtown San Diego. Imperial Beach has an area of 4.4 square miles and a population of approximately 28,000. Some describe Imperial Beach as quaint, but mostly the town has a rare innocence and a relaxed atmosphere. "IB" boasts the temperate, sunny-but cool weather, for which the California coast is famous. Typically, the climate is like Spring or early Fall year round.

Highlights

  • Late 80's Construction
  • All Two-Bedroom Units
  • Garages
  • Tremendous Upside In Rental Income
  • On-Site Laundry Facilities

Research

710 Emory St., Imperial Beach, CA 91932 (San Diego County)

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