1091 Calla Ave 16 Unit Apartment Building $5,950,000 ($371,875/Unit) 3.97% Cap Rate Imperial Beach, CA 91932

1091 Calla Avenue is a sixteen (16) unit apartment building well-located in Imperial Beach which is one of San Diego county's thriving beach communities with further growth and gentrification on the horizon. This well-maintained property is comprised of four (4) 2 Bedroom/ 1.5 Bathroom two-story townhome style units, eight (8) 2 Bedroom/1 Bathroom units, and four (4) 1 Bedroom/1 Bathroom units. This community is in an excellent location within Imperial Beach, just a short distance from the Pacific Ocean, the popular Imperial Beach Pier, the US Navy's Silver Strand Special Operations Training Center, several new eateries, local parks, and so much more. The property consists of 13,468 square feet of structure built in 1978 and situated on a 22,216 square foot corner lot with 25 parking spaces. There is additional income from RUBS/submetering and laundry facilities. DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS.
Imperial Beach is the southernmost coastal submarket in San Diego County and boasts 3.5 miles of beaches popular for surfing, swimming and spots such as Pier Portwood Plaza and Dunes Park. The Imperial Beach Pier, restaurants, breweries and new retails shops are available near the coast. This submarket is located south of Coronado Island and connected by the Strand. Major Military bases such as North Island Coronado, the Imperial Beach Naval Helicopter Airfield and the new $1 Billion Navy SEAL training facility are all within close proximity. Imperial Beach is a growing beach community with little recent new development leading to limited housing options and room to grow rents and value.
Imperial Beach is a residential beach city in San Diego County, California, with a population of 26,324 at the 2010 census. The city is the southernmost beach city in Southern California and the West Coast of the United States. It is in the South Bay area of San Diego County, 14.1 miles south of downtown San Diego and 5 miles northwest of downtown Tijuana, Mexico.
Imperial Beach is located in San Diego County, the fifth most-populous county in the United States and part of the San Diego Metropolitan Area, the 17th largest metropolitan area in the United States with over 3 million people. It is also part of the San Diego – Tijuana metropolitan area, the largest bi-national metropolitan area shared between the United States and Mexico with over 5 million people. The city has a warm semi-arid climate, with summer temperatures often in the upper 70s and winter temperatures in the 60s. Because of the comfortable year-round temperatures many homes in Imperial Beach are built without air conditioning. Imperial Beach often remains 10 degrees cooler than inland areas of San Diego County in the summer, and 10 degrees warmer in the winter.
The city is mostly or partly sunny 323 days of the year, with the wettest months in winter. The Farmer's Almanac consistently ranks the area within the Top 10 Best Weather Cities in America. The Scripps Institution of Oceanography operates a weather reporting station at the middle of the Imperial Beach Pier for sky condition, temperature, humidity, pressure, wind and water temperature data.