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562-564 11th St 4 Unit Apartment Building $1,599,995 ($399,999/Unit) 5.31% Cap Rate Imperial Beach, CA 91932
Investment Highlights
- Prime Coastal Location with Strong Walkability
- High-Quality Tenant Base Driven by Location
- Attractive Unit Mix with Strong Income Profile
- Well-Maintained Property with Recent Upgrades
Executive Summary
Multifamily investment property located in quiet North Imperial Beach neighborhood. Property consists of one 3BD/2BA house (~1,200SF) and three 2BD/1BA units (each ~750SF). Property is well-maintained, professionally managed, and located in a desirable neighborhood of Imperial Beach with long term, quiet tenants. Property features include alley access, separate entrances, separated gas/electric/water meters. Located just one block to the Silver Strand Bikeway and walking distance to Trident Coffee, Rad Power Bikes, and more. The Property is two blocks from Palm Avenue, offering quick access to I-5, Coronado Island, and South Bay commercial hubs.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$121,200
|
$36.73
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,636
|
$1.10
|
| Effective Gross Income |
$117,564
|
$35.63
|
| Taxes |
$18,688
|
$5.66
|
| Operating Expenses |
$12,060
|
$3.65
|
| Total Expenses |
$30,748
|
$9.32
|
| Net Operating Income |
$86,816
|
$26.31
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $121,200 |
| Annual Per SF | $36.73 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,636 |
| Annual Per SF | $1.10 |
| Effective Gross Income | |
|---|---|
| Annual | $117,564 |
| Annual Per SF | $35.63 |
| Taxes | |
|---|---|
| Annual | $18,688 |
| Annual Per SF | $5.66 |
| Operating Expenses | |
|---|---|
| Annual | $12,060 |
| Annual Per SF | $3.65 |
| Total Expenses | |
|---|---|
| Annual | $30,748 |
| Annual Per SF | $9.32 |
| Net Operating Income | |
|---|---|
| Annual | $86,816 |
| Annual Per SF | $26.31 |
Property Facts
| Price | $1,599,995 | Property Subtype | Apartment |
| Price Per Unit | $399,999 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 5.31% | Building Size | 2,656 SF |
| Gross Rent Multiplier | 11.5 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1980 |
| Property Type | Multifamily | Parking Ratio | 1.51/1,000 SF |
| Zoning | R-3000-D | ||
| Price | $1,599,995 |
| Price Per Unit | $399,999 |
| Sale Type | Investment |
| Cap Rate | 5.31% |
| Gross Rent Multiplier | 11.5 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 2,656 SF |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 1.51/1,000 SF |
| Zoning | R-3000-D |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $3,400 | 1,200 |
| 2+1 | 3 | $2,250 | 750 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 626-114-18 | Total Assessment | $1,394,169 (2025) |
| Land Assessment | $930,890 (2025) | Annual Taxes | $18,688 ($7.04/SF) |
| Improvements Assessment | $463,279 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
626-114-18
Land Assessment
$930,890 (2025)
Improvements Assessment
$463,279 (2025)
Total Assessment
$1,394,169 (2025)
Annual Taxes
$18,688 ($7.04/SF)
Tax Year
2026
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