4 Units - Imperial Beach: Property For Sale

Properties For Sale 4 Units - Imperial Beach

4 Units - Imperial Beach

243 Date Ave., Imperial Beach 91932

DRIVE-BY ONLY. Do not disturb tenants. Tenants do not know the property is for sale. Interior inspection with accepted offer.

Offered at:
$2,975,000

Property Description

Amazing opportunity to own a premium building very close to the beach. Large three-story 4 plex located 2 blocks from the beach. All 2 bdrm. 2.5 bath townhouse style units approx. 1,073 sq. ft each. Built in 1993. These are big units, really bright with high ceilings and great finishes. Some units have ocean views. Each unit has vaulted ceilings, wood floors, fireplaces, patios, 2 parking spaces and storage. Low expenses - all units are separately metered for water, gas and electric. Great potential for a buyer to resell individual units for profit. The property has completed condo map with separate APN's making it easy for the buyer to sell units individually. Imperial Beach plays host to a variety of exciting events every year including a beachfront VW Air-Cooled classic car show, an annual dog-surfing contest, and Symphony by the Sea. Located just blocks from the beach and the beachfront Farmer’s Market offering local fruits, vegetables and community art.

LIVING IN IMPERIAL BEACH

Imperial Beach is a medium-sized coastal city (i.e. on the ocean, a bay, or inlet) located in the state of California. With a population of 27,447 people and six constituent neighborhoods, Imperial Beach is the 266th largest community in California.

Housing costs in Imperial Beach are among some of the highest in the nation, although real estate prices here don't compare to real estate prices in the most expensive communities in California.

Unlike some cities, Imperial Beach isn’t mainly white- or blue-collar. Instead, the most prevalent occupations for people in Imperial Beach are a mix of both white- and blue-collar jobs. Overall, Imperial Beach is a city of service providers, sales and office workers, and professionals. There are especially a lot of people living in Imperial Beach who work in office and administrative support (12.11%), sales jobs (11.88%), and food service (8.23%).

There are quite a few people in the armed forces living in Imperial Beach, and when you visit or drive around town, you will see military people in and out of uniform, shopping, enjoying life, and being part of the community.

One of the nice things about Imperial Beach is that it is nautical, which means that parts of it are somewhat historic and touch the ocean or tidal bodies of water, such as inlets and bays. Because of this, visitors and locals will often go to these areas to take in the scenery or to enjoy waterfront activities.

Although the majority of commuting trips in the city are by private automobile, Imperial Beach is somewhat unusual for a city of its size for having a substantial number of people who use public transportation. For a lot of people, the bus helps to get to and from their jobs every morning, which benefits everyone in the Imperial Beach area by reducing both traffic and air pollution.

In terms of college education, Imperial Beach is nearly on par with the US average for all cities of 21.84%: 18.85% of adults 25 and older in Imperial Beach have a bachelor's degree or advanced degree.

The per capita income in Imperial Beach in 2010 was $23,587, which is lower middle income relative to California and the nation. This equates to an annual income of $94,348 for a family of four. However, Imperial Beach contains both very wealthy and poor people as well.

Income

One 2-Beds 2.5-Baths $1,925
One 2-Beds 2.5-Baths $1,950
One 2-Beds 2.5-Baths $1,975
One 2-Beds 2.5-Baths $2,000
Monthly Total $7,850

Cash Flow Analysis

Gross Scheduled Income $94,200
Operating Expenses $23,550
Net Operating Income $68,766

Acquisition Data

Down Payment $1,785,000 (60%)
Loan Amount $1,190,000 (40%)

Call or E Mail to request a Marketing Package and 10 Year Financial Analysis of this property. Marketing Package includes Complete Property Information, Sales and Rent Comparable Analysis. 10 Year Financial Analysis includes Complete Cash Flow Analysis, Itemized Expenses, Expected Cash Flow, Return on Initial Equity, Expected Gross Income Increase, Tax Benefits, Mortgage Principal Reduction, Expected Appreciation, Depreciation Analysis, Adjusted Cost Basis, Capital Gains Tax On Sale and more.

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