1268-70 Georgia St - 2 on Georgia
2 Unit Apartment Building Offered at $995,000 at a 5.20% Cap Rate in Imperial Beach, CA 91932
INVESTMENT HIGHLIGHTS
- 2 Houses, 1 Lot
- Military-Friendly Location: Just minutes from Naval Base Coronado and other nearby installations, this property is perfect for military buyers
- Condo Conversion: Record a condominium map and sell-off each house individually for maximum for re-sale potential
- Dual Living Potential: Each unit has separate street entrances, separate utilities and is divided by a privacy fence, offering complete independence
- ADU Potential: Senate Bill No. 1211, which went into effect on January 1, 2025, increases development potential and rental income opportunities
EXECUTIVE SUMMARY
This well-maintained 2-on-1 property in Imperial Beach is ideal for first-time buyers, investors, and military families. It features two houses: a comfortable 2-bedroom + den, 1-bath front house and a spacious a 3- bedroom, 2-bath back house with a 2-car garage, offering strong rental income potential. Each house has separate entrances, utilities, and a privacy fence, ensuring independent living. The location is military friendly, just minutes from Naval Base Coronado, making it perfect for VA buyers. The back house’s garage could be converted into an ADU for added rental income. For investors, a condominium conversion strategy allows for selling each house separately, maximizing resale value (a recent and comparable condo conversion sale can be found at the adjacent property located at 1274 Georgia St. and 1276 Georgia St).
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 1 | $2,500 | 850 |
| 3+2 | 1 | $3,375 | 1,250 |
1 of 1
Walk Score®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 633-101-16 | Improvements Assessment | $178,552 |
| Land Assessment | $221,651 | Total Assessment | $400,203 |
