3 on Evergreen | 204 Evergreen Ave
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3 on Evergreen 204 Evergreen Ave
3 Unit Apartment Building $1,499,000 ($499,667/Unit) 4.41% Cap Rate Imperial Beach, CA 91932
Investment Highlights
- Proximity to beach
- Driveway and off street parking
- Value add & upside in rental income
- Garage ADU potential
- Walking distance to public transportation, shops, and restaurants
Executive Summary
Discover a rare chance to own a prime multifamily property just steps from the ocean in Imperial Beach. This versatile asset features a well-appointed 2BD/1BA single-family residence, alongside a 2-story 1BD/1BA unit and a studio unit – offering a desirable mix of rental opportunities. Situated at the corner of Evergreen Ave. and 2nd Street, this property is a straight shot to the iconic Imperial Beach pier, with shops and restaurants just a short walk away. Flexible Living Arrangements: Perfect for owner-occupants, live in one unit and rent out the other two as vacation or long-term rentals. Each building boasts its own detached garage, offering additional storage or the potential for ADU conversions to expand your investment. Positioned for significant rental income growth, thanks to its unbeatable proximity to the beach, vibrant dining, shopping, and an array of coastal activities. Don't miss out on this rare opportunity to invest in a property that seamlessly blends immediate rental income with the coveted beachside lifestyle.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,499,000 | Property Subtype | Apartment |
| Price Per Unit | $499,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 4.41% | Building Size | 2,100 SF |
| Gross Rent Multiplier | 16.2 | Average Occupancy | 66% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1965/2017 |
| Price | $1,499,000 |
| Price Per Unit | $499,667 |
| Sale Type | Investment |
| Cap Rate | 4.41% |
| Gross Rent Multiplier | 16.2 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 2,100 SF |
| Average Occupancy | 66% |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2017 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 1+1 | 1 | - | - |
| Studios | 1 | - | - |
Walk Score ®
Very Walkable (78)
Bike Score ®
Very Bikeable (71)
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3 on Evergreen | 204 Evergreen Ave
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