ACRE Investment Real Estate Services is pleased to offer the Emory Street Apartments (the “Property”), an attractive rental community located in Imperial Beach. The offering presents real estate investors the opportunity to acquire a turn-key, stabilized real estate asset with some modest upside in rental income. The property is being offered free and clear of debt encumbrances. The Emory Street Apartments benefits from a desirable and convenient location west of Interstate 5 in San Diego’s Southbay. The property sits a mere few minutes away from the Pacific Ocean and San Diego Bay in an area characterized by quiet residential communities and neighborhood retailers. The Emory Street Apartments consists of nine (9) One-Bedroom/One-Bath apartment homes with a total of approximately 5,175 rentable square feet situated in one (1) residential building. While originally constructed in 1962, the Property recently underwent extensive renovations inside and out including new paint, windows, and facade work; new kitchens, baths, flooring, and appliances; as well as new individual water heaters for each unit. The Property provides tenants with plenty off-street parking, modern laundry facilities, storage lockers, and a picnic area. The Property consists of a nicely landscaped garden setting spread out on a lot totaling 7,873 sq ft.
The Emory Street Apartments provides an opportunity to acquire a multifamily asset in one of the highest demand rental submarkets in San Diego County. The new owner will enjoy the security of having the property situated in close proximity to the coast, comparable apartment communities, local shopping, restaurants, as well as having easy access to Interstate 5. With upside in rental income, this offering is perfect for the long term investor seeking a pride of ownership asset with a strong current and future cash flow.
