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1398 Seacoast Drive

Imperial Beach, CA 91932
  • $4,890,000
  • STATUS: ACTIVE
  • ON SITE: 31 Days
  • ID#: 220017358
UPDATED: 66 min ago
$4,890,000
  • 7
    BEDS
  • 0.11
    ACRES
  • 7
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Completely remodeled and upgraded beachfront complex in Imperial Beach, one of San Diego Counties fastest appreciating markets. Most units have ocean views, all enjoy private beach area. Rear of property has panoramic views of Tijuana Estuary. Benefit from high income and beachfront-level appreciation. Combination of Studio, 1, 2 and 3 bedroom configurations. Four storage areas that can be rented for additional income. High demand for remodeled rentals near beach due to new multi-billion dollar Navy Seal facility. New kitchens and baths in all units, new wood or vinyl-wood flooring in all units. Upgraded electric and plumbing. New windows, appliances, and A/C-Heat. Property could also be redeveloped as a private beachfront home while retaining three of the existing rental units.

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San Diego MLS logo 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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/130643683
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1398 Seacoast Drive Imperial Beach, CA 91932

  • Price: $4,890,000
  • Status: ACTIVE
  • On Site: 31 Days
  • Updated: 66 min ago
  • ID#: 220017358
7
Beds
7
Baths
0
½ Baths
0.11
Acres
Neighborhood:
Imperial Beach (91932)
County:
San Diego
Area:
Imperial Beach (91932)
Property Description
Completely remodeled and upgraded beachfront complex in Imperial Beach, one of San Diego Counties fastest appreciating markets. Most units have ocean views, all enjoy private beach area. Rear of property has panoramic views of Tijuana Estuary. Benefit from high income and beachfront-level appreciation. Combination of Studio, 1, 2 and 3 bedroom configurations. Four storage areas that can be rented for additional income. High demand for remodeled rentals near beach due to new multi-billion dollar Navy Seal facility. New kitchens and baths in all units, new wood or vinyl-wood flooring in all units. Upgraded electric and plumbing. New windows, appliances, and A/C-Heat. Property could also be redeveloped as a private beachfront home while retaining three of the existing rental units.
Exterior Features

Carports 0 Construction DrywallFrameLath/PlasterStucco Exterior Block FencePart FencedWood Fence Lot Dimensions Approx 40X120 Parking Other/Remarks Parking Spaces Total 4 Roof Other/Remarks Units With Garages 0

Interior Features

Cooling Other Floor Coverings HardwoodTileVinyl Floors Other/RemarksWood Heating Floor FurnaceHeat Pump Laundry Leased Sq Ft Of Improvement 3482 Stories 2 Story Unit Furnished1 Yes Unit Furnished2 Yes Unit Furnished3 Yes Unit Furnished4 Yes Unit Furnished5 Yes Units With Dishwashers 4 Units With Disposals 4 Units With Drapes 5 Units With Ranges 4 Units With Refrigerators 5

Property Features

Actual Cap Rate 3.62 Actual Gross Operating Income 247100 Actual Gross Scheduled Income 259200.0 Actual Operating Expense 49779 Actual Taxes Expense 23364 Actual Vacancy And Credit Loss 12000 Assumable Finance 0 Buildings 1 Existing Financing Clear Fiscal Year From 1 Fiscal Year To 12 Gross Equity 4890000 Gross Multiplier 18.86 Have Units Leased Apartments 5 Mandatory Remarks None Known Market Area South Bay Monthly Rent Total 21600 Motive Want Cash Out Or Exchange Other Income Actual 100 Projected Other Income 7200 Projected Taxes Expense 56835 Short Sale No Sq Ft Source Buyer To VerifyTax Record Tenant Pays Electric N Tenant Pays Gas N Tenant Pays Water N Terms CashCash To New LoanExchange DownExchange Up Unit Number1 1 Unit Number2 1 Unit Number3 1 Unit Number4 1 Unit Number5 1 Unit Rent Total1 5900 Unit Rent Total2 5500 Unit Rent Total3 3900 Unit Rent Total4 3600 Unit Rent Total5 2600 Unit Rent1 5900 Unit Rent2 5500 Unit Rent3 3900 Unit Rent4 3600 Unit Rent5 2600 Unit Type Apartment Zoning R3

San Diego MLS logo Listing provided courtesy of Compass. Listing information © 2022 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo 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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
 
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Neuman & Neuman Real Estate Inc.
516 5th Avenue
San Diego CA, 92101