637 10th St Immeuble residentiel 6 lots 1 811 549 € (301 925 €/Lot) Taux de capitalisation 3,88 % Imperial Beach, CA 91932

It is an honor to present for sale the well-constructed six (6) unit apartment property at 637 10th Street in Imperial Beach, on the outskirts of its desirable northerly Dolphin Bay neighborhood, close to the Bayshore Bikeway and several neighborhood centers, with many national retailers. The property is also close to the beach (11 blocks) and its vibrant retail scene, with several notable breweries and restaurants. The unit mix consists of four (4) one-bedroom/one-bathroom units and two (2) three-bedroom/two-bathroom units, several of which have private patios/balconies and/or have been updated with vinyl plank flooring. Units are spacious, and the property has a total of eleven (11) surface off-street parking spaces, as well as a laundry room on-site.
Built of wood-frame construction upon a concrete slab foundation with a flat roof and stucco exterior, apartments all have screen doors and aluminum frame windows. The apartment building is separately metered for electricity and master metered for gas. Inside units have radiant heat and a standard appliance packages.
An opportunity exists to modernize the apartments with higher-end finishes, fixtures and appliances, sufficient to justify significantly increased rents and much improved operating income, in line with upgraded multifamily units in the immediate area.
Owned by the same family for around 20 years, this is a rare opportunity with upside in the desirable northerly (Dolphin Bay) section of Imperial Beach, which abuts the Bayshore Bikeway, providing easy access to Sliver Strand and Coronado beaches.