Marcus and Millichap is pleased to present for sale a 5 unit pride of ownership property located in the promising city of Imperial Beach. Only within 2 blocks of the beach, this pedestrian and biker friendly neighborhood is applauded for its laid back, coastal vibe. Imperial Beach is on the rise with several mixed-use development projects in the works within just a few blocks of the subject property. Projects include Blue Wave Development, Breakwater Town Center, and the Hampton Inn & Suites. The city recently approved a revitalization plan encouraging investment, promoting economic development, and improving all transit mobility.
Constructed in 1972 and renovated in 2020, this property rests on a 4365 SF lot with 4032 rentable SF. This newly renovated property is comprised of 3 one-bedroom/one-bathroom units, 1 two-bedroom/one-bathroom unit, and 1 two-bedroom/two-bathroom unit. All units provide tenants with amenities such as in unit laundry and split unit air conditioning. Tenants also have access to ample parking that includes 5 off street parking spaces. This building is also conveniently located within a couple blocks from Seacoast Drive, providing direct access to a variety of entertainment and restaurants.
This asset has undergone a complete overhaul of a renovation that features new interior and exterior finishes to new plumbing and electric. Being located within 2 blocks of the beach, this property is well-positioned for any investor seeking longevity in a flourishing market.
