565 Florida St
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565 Florida St
5 Unit Apartment Building $2,459,000 ($491,800/Unit) 4.08% Cap Rate Imperial Beach, CA 91932
Investment Highlights
- The cost per SF and GRM are the lowest in IB now.
- A detached four bed/ two bath house.
- Four townhome units.
Executive Summary
565 Florida is a detached four bed/two bath house. 567 Florida is comprised of two duplexes each with twin two bed/one and a half bath townhome units. The cost per square foot and GRM are the lowest in IB now, Dollars/ SF is lower than anything that has been listed in IB in the past year. GRM is lower than average of what has been listed in IB in the last year. The average of recent Imperial Beach sales has been $560/SF. That would imply a value over $3,200,000 for this property. The four townhome apartments each have attached garages and private patios. The four garages offer an opportunity to add ADUs to create extra income. All units are individually metered for water, gas and electric. Each unit has individual laundry hookups.
Inspection will be coordinated upon accepted offer only. No previews. Please do not disturb tenants. The information contained herein has been obtained from sources believed reliable. ACI does not doubt the accuracy, but we have not verified it and make no guarantee, warranty or representations.
Inspection will be coordinated upon accepted offer only. No previews. Please do not disturb tenants. The information contained herein has been obtained from sources believed reliable. ACI does not doubt the accuracy, but we have not verified it and make no guarantee, warranty or representations.
Data Room Click Here to Access
- Offering Memorandum
- Market Information
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,459,000 | Apartment Style | Low Rise |
| Price Per Unit | $491,800 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.26 AC |
| Cap Rate | 4.08% | Building Size | 6,550 SF |
| Gross Rent Multiplier | 15 | Average Occupancy | 0% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Apartment | Parking Ratio | 1.36/1,000 SF |
| Price | $2,459,000 |
| Price Per Unit | $491,800 |
| Sale Type | Investment |
| Cap Rate | 4.08% |
| Gross Rent Multiplier | 15 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 6,550 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 1.36/1,000 SF |
Unit Amenities
- Washer/Dryer Hookup
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 4 | $2,593 | 1,100 - 1,200 |
| 4+2 | 1 | $3,259 | 1,300 |
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Walk Score ®
Very Walkable (81)
Bike Score ®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 626-182-20 | Total Assessment | $2,221,254 |
| Land Assessment | $1,352,520 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $868,734 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
626-182-20
Land Assessment
$1,352,520
Improvements Assessment
$868,734
Total Assessment
$2,221,254
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
zoning
| Zoning Code | R2A, Imperial Beach |
| R2A, Imperial Beach |
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565 Florida St
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