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Emory Apartments 635 Emory St 15 Unit Apartment Building $4,950,000 ($330,000/Unit) 5.65% Cap Rate Imperial Beach, CA 91932
Investment Highlights
- 15-Unit Multifamily Community in Imperial Beach, Apx. 12,116 SF Building(s) on 14,271 SF Lot
- Blend of Stabilized Income and Value-Add Upside
- Roughly One Mile to the Beach and Imperial Beach Pier & Steps to Bayshore Bikeway
- Unit Mix of (13) 2BR/1BA and (2) 1BR/1BA, 7 of 15 Units with In-Unit Laundry
- 3 Garages On-Site — Additional Income Potential
Executive Summary
Whitewater Commercial Real Estate presents an excellent opportunity to acquire a well-located multifamily asset in the coastal community of Imperial Beach, CA.
Built in 1970, 635 Emory Street is a 15-unit apartment community positioned north of Palm Avenue, one of Imperial Beach's primary commercial corridors, and within roughly a mile of the beach, the pier, and the neighborhood's shopping and dining. The property features a functional unit mix of (13) 2-bedroom/1-bathroom units and (2) 1-bedroom/1-bathroom units, with 7 of the 15 units offering the convenience of in-unit laundry and 3 garages providing additional parking and income upside.
The property presents investors with a genuine blend of stabilized cash flow and value-add potential. A portion of the units have already been renovated with white shaker-style cabinetry, quartz countertops, matte gold fixtures, and updated bathrooms with tiled tub/shower surrounds and modern vanities, while the remaining original units offer a clear path to increased rents through further interior upgrades. Wood-look plank flooring and open, functional layouts run throughout the community.
With its coastal Imperial Beach location, in-place income from renovated units, and meaningful upside in the unrenovated units, 635 Emory Street offers investors a rare combination of immediate stability and forward-looking growth in one of San Diego County's most enduring rental markets.
Built in 1970, 635 Emory Street is a 15-unit apartment community positioned north of Palm Avenue, one of Imperial Beach's primary commercial corridors, and within roughly a mile of the beach, the pier, and the neighborhood's shopping and dining. The property features a functional unit mix of (13) 2-bedroom/1-bathroom units and (2) 1-bedroom/1-bathroom units, with 7 of the 15 units offering the convenience of in-unit laundry and 3 garages providing additional parking and income upside.
The property presents investors with a genuine blend of stabilized cash flow and value-add potential. A portion of the units have already been renovated with white shaker-style cabinetry, quartz countertops, matte gold fixtures, and updated bathrooms with tiled tub/shower surrounds and modern vanities, while the remaining original units offer a clear path to increased rents through further interior upgrades. Wood-look plank flooring and open, functional layouts run throughout the community.
With its coastal Imperial Beach location, in-place income from renovated units, and meaningful upside in the unrenovated units, 635 Emory Street offers investors a rare combination of immediate stability and forward-looking growth in one of San Diego County's most enduring rental markets.
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
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-
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| Other Income |
-
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-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
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| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,950,000 | Apartment Style | Low-Rise |
| Price Per Unit | $330,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 5.65% | Building Size | 12,116 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 15 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 1.9/1,000 SF |
| Zoning | RHDO | ||
| Price | $4,950,000 |
| Price Per Unit | $330,000 |
| Sale Type | Investment |
| Cap Rate | 5.65% |
| Sale Condition | 1031 Exchange |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 12,116 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 1.9/1,000 SF |
| Zoning | RHDO |
Amenities
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Gated
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 700 |
| 2+1 | 13 | - | 825 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 626-221-22 | Improvements Assessment | $2,164,864 |
| Land Assessment | $3,247,296 | Total Assessment | $5,412,160 |
Property Taxes
Parcel Number
626-221-22
Land Assessment
$3,247,296
Improvements Assessment
$2,164,864
Total Assessment
$5,412,160
Contacts
-
Carson Trujillo -
Connor Stolle -
Ricky Partida -
Whitewater Commercial Real Estate
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