Skip To Content

    1036-1042 Fern Ave

    Imperial Beach, CA 91932
    • $2,550,000
    • STATUS: PENDING
    • ON SITE: 74 days
    • ID#: 210005121
    Pending
    $2,550,000
    • 12
      BEDS
    • N/A
      ACRES
    • 8
      BATHS
    • 0
      1/2 BATHS
    • 6,316
      SQFT
    • $404
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2018
    County:

    School Ratings & Info

    Description

    Pleased to present for sale a newly constructed 4 townhome complex in Imperial Beach, CA. Constructed in 2018, the property rests on an 11,065 SF lot and offers 6,316 of rentable SF. 1036-1042 Fern Ave has a completed condo map, each unit with its own APN and separate utility meters. Each townhome is comprised of spacious 3-Bedroom/2.5-Bathroom floor plans. These townhomes feature master en-suite bathrooms, fenced-in private patios (front unit also has large fenced yard), and attached double car finished garages. Own 100% of the complex with full control and no HOA compliance. There are no HOA fees for this property. This is a rare opportunity for an investor to purchase a high performing asset with multiple exit strategies. Imperial Beach is on the rise with several mixed-use development projects in the works. Emerging as one of San Diego’s most sought-after rental markets, Imperial Beach attracts high quality and reliable tenants. This property is located only a short drive from both the main Naval Amphibious Base Coronado and Naval Special Warfare Center. In addition to the tenants Imperial Beach draws in for its coastal location and unique culture, the Navy only increases demand of quality tenants as most receive housing allowances between $2,000 - $3,800/ month. This asset is poised for long term appreciation and is located on the coast with the investor’s longevity in mind. According to the San Diego Union Tribune, the median price of a house in San Diego could be around $776,000.00 by the end of 2021.

    Monthly Payment Calculator

    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/114579877
    Print Image

    1036-1042 Fern Ave Imperial Beach, CA 91932

    • Price: $2,550,000
    • Status: PENDING
    • ID#: 210005121
    12
    Beds
    8
    Baths
    0
    ½ Baths
    N/A
    Acres
    6,316
    SQFT
    $404
    $/SQFT
    2018
    Built
    Neighborhood:
    Imperial Palms
    County:
    San Diego
    Area:
    Imperial Beach (91932)
    Property Description
    Pleased to present for sale a newly constructed 4 townhome complex in Imperial Beach, CA. Constructed in 2018, the property rests on an 11,065 SF lot and offers 6,316 of rentable SF. 1036-1042 Fern Ave has a completed condo map, each unit with its own APN and separate utility meters. Each townhome is comprised of spacious 3-Bedroom/2.5-Bathroom floor plans. These townhomes feature master en-suite bathrooms, fenced-in private patios (front unit also has large fenced yard), and attached double car finished garages. Own 100% of the complex with full control and no HOA compliance. There are no HOA fees for this property. This is a rare opportunity for an investor to purchase a high performing asset with multiple exit strategies. Imperial Beach is on the rise with several mixed-use development projects in the works. Emerging as one of San Diego’s most sought-after rental markets, Imperial Beach attracts high quality and reliable tenants. This property is located only a short drive from both the main Naval Amphibious Base Coronado and Naval Special Warfare Center. In addition to the tenants Imperial Beach draws in for its coastal location and unique culture, the Navy only increases demand of quality tenants as most receive housing allowances between $2,000 - $3,800/ month. This asset is poised for long term appreciation and is located on the coast with the investor’s longevity in mind. According to the San Diego Union Tribune, the median price of a house in San Diego could be around $776,000.00 by the end of 2021.
    Exterior Features

    Exterior Stucco Fencing Partial Parking Garage Desc Unit1 Attached Parking Garage Desc Unit2 Attached Parking Garage Desc Unit3 Attached Parking Garage Desc Unit4 Attached Parking Garage Spaces Unit1 2 Parking Garage Spaces Unit2 2 Parking Garage Spaces Unit3 2 Parking Garage Spaces Unit4 2 Roof Tile/Clay Site Public StreetWest Of I-5 Unit1 Exclusive Use Yard Yes Unit2 Exclusive Use Yard Yes Unit3 Exclusive Use Yard Yes Unit4 Exclusive Use Yard Yes Units With Garages 4 Units With Patios 0

    Interior Features

    Cooling Central Forced Air Furnished Units 0 Half Baths Unit1 1 Half Baths Unit2 1 Half Baths Unit3 1 Half Baths Unit4 1 Heat Equipment Forced Air Unit Heat Source Natural Gas Stories 2 Story Total Baths Unit1 3 Total Baths Unit2 3 Total Baths Unit3 3 Total Baths Unit4 3 Unit1 Laundry Hook Ups Yes Unit2 Laundry Hook Ups Yes Unit3 Laundry Hook Ups Yes Unit4 Laundry Hook Ups Yes Units With Cooling 4 Units With Dishwashers 4 Units With Dryers 4 Units With Fireplaces 0 Units With Range Oven 4 Units With Refrigerators 4 Units With Washers 4

    Property Features

    Actual Cap Rate 3.6 Age Restrictions N/K Annual Expense Actual 35602 Association ID San Diego Association Of Realtors (Sdar) Buildings 1 Cfd Mello Roos Fee 0.0 Community Imperial Beach Complex Park Imperial Beach Cross Streets 11th St Gross Rent Multiplier Actual 19.43 Gross Scheduled Income Actual 131220 Mandatory Remarks None Known Market Area South Bay Monthly Total Fees 0 Other Fees 0.0 Other Income Actual 0 Sales Restrictions N/K Security N/K Sewer Septic Sewer Connected Short Sale No Tenant Pays TrashWaterElectricityHot Water Terms CashConventional Unit Number For Unit1 1036 Unit Number For Unit2 1038 Unit Number For Unit3 1040 Unit Number4 1042 Unit1 Deposit 2750 Unit1 Occupied Tenant Unit1 Projected Rent 3100.0 Unit1 Rent Actual 2750.0 Unit2 Deposit 2000 Unit2 Occupied Tenant Unit2 Projected Rent 3000.0 Unit2 Rent Actual 2695.0 Unit3 Deposit 2495 Unit3 Occupied Tenant Unit3 Projected Rent 3000 Unit3 Rent Actual 2495.0 Unit4 Deposit 2995 Unit4 Occupied Tenant Unit4 Projected Rent 3100 Unit4 Rent Actual 2995.0

    Listing provided courtesy of Marcus & Millichap. Listing information © 2021 San Diego MLS Inc. Source: SDMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
    https://bt-photos.global.ssl.fastly.net/sandiego/1280_boomver_1_210005121-2.jpg https://bt-photos.global.ssl.fastly.net/sandiego/1280_boomver_1_210005121-2.jpg https://bt-photos.global.ssl.fastly.net/sandiego/1280_boomver_1_210005121-2.jpg
    Logo
    Neuman & Neuman Real Estate Inc.
    516 5th Avenue
    San Diego CA, 92101