Lowest $/Unit in Imperial Beach 800 Emory St 9 Unit Apartment Building $2,500,000 ($277,778/Unit) 4.40% Cap Rate Imperial Beach, CA 91932

Extra clean and well maintained, 9-unit apartment building located in Imperial Beach, just a block south of Palm, 1 mile to beach and one block to The Scoreboard Bar, Raising Cane’s, Jersey Mike’s, Five Guys, Starbucks, Grocery Outlet, Chase Bank. Tenants can park their cars and not drive all weekend.
In 2018 approximately, the building underwent extensive renovations with upgraded interiors including kitchens, baths, fixtures, floors, doors, new exterior façade, paint, upgraded windows, roof and modern finishes.
Each unit is spacious and situated well with dining room, living room, large bathrooms featuring a shower, bath, tile. There are multiple sliding closets and a linen closet. Each unit features individual water heaters. We believe there are multiple options to add washer dryer in unit. Each unit features a parking spot, with approximately 10-11 parking spots. Especially once the washer/dryers are installed, we think there may be room for a 10th unit on the west side of the building, to replace the existing laundry room and tuck under parking area.
This is a nice building, in a great area, drive by and take a look.
Owner would like to take the equity here and exchange into something larger in San Diego County, if you have a suitable exchange, 10-20 units, please contact us asap.