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306-308 Elm Ave

Imperial Beach, CA 91932
  • $2,400,000
  • STATUS: ACTIVE
  • ON SITE: 24 Days
  • ID#: 230000962
UPDATED: 24 min ago
$2,400,000
  • 8
    BEDS
  • 0.27
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 2,784
    SQFT
  • $862
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1951
County:

School Ratings & Info

Description

Presenting 306-308 Elm Ave and 861-865 3rd St. This sale consists of two parcels being sold together. Situated on the corner of 3rd Street and Elm Avenue, this corner lot totals .27 acres. The property consists of two duplexes, for a total of four (4) units. Each unit is 2 bedrooms, 1 bath, and approximately 692 square feet. In addition to the 4 units, there are two (2), 2-car garages, and each unit has its own fenced yard. The units can be upgraded to higher-end finishes, providing over a 40% potential upside in rents. This property offers a rare opportunity to own a large corner lot only 2-blocks from the beach in one of San Diego's most up-and-coming coastal communities.

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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 © 2023 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/136044563
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306-308 Elm Ave Imperial Beach, CA 91932

  • Price: $2,400,000
  • Status: ACTIVE
  • On Site: 24 Days
  • Updated: 24 min ago
  • ID#: 230000962
8
Beds
4
Baths
0
½ Baths
0.27
Acres
2,784
SQFT
$862
$/SQFT
1951
Built
Neighborhood:
Imperial Beach
County:
San Diego
Area:
Imperial Beach (91932)
Property Description
Presenting 306-308 Elm Ave and 861-865 3rd St. This sale consists of two parcels being sold together. Situated on the corner of 3rd Street and Elm Avenue, this corner lot totals .27 acres. The property consists of two duplexes, for a total of four (4) units. Each unit is 2 bedrooms, 1 bath, and approximately 692 square feet. In addition to the 4 units, there are two (2), 2-car garages, and each unit has its own fenced yard. The units can be upgraded to higher-end finishes, providing over a 40% potential upside in rents. This property offers a rare opportunity to own a large corner lot only 2-blocks from the beach in one of San Diego's most up-and-coming coastal communities.
Exterior Features

Boat Facilities No/Unknown Exterior Stucco Fencing Partial Frontage N/K Irrigation N/K Parking For RV None Known Parking Garage Desc Unit1 AssignedDetached Parking Garage Desc Unit2 AssignedDetached Parking Garage Desc Unit3 AssignedDetached Parking Garage Desc Unit4 AssignedDetached Parking Garage Spaces Unit1 1 Parking Garage Spaces Unit2 1 Parking Garage Spaces Unit3 1 Parking Garage Spaces Unit4 1 Parking Non Garage Desc Unit1 Assigned Parking Non Garage Desc Unit2 Assigned Parking Non Garage Desc Unit3 Assigned Parking Non Garage Desc Unit4 Assigned Pool N/K Pool Heat None Known Roof Composition Site Corner LotCurbsPublic StreetSidewalksStreet PavedWest Of I-5 Spa N/K Spa Heat None Known Topography Level 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 4 View City

Interior Features

Cooling N/K Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Half Baths Unit4 0 Heat Equipment Wall/Gravity Heat Source Electric Stories 1 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1 Unit1 Laundry Hook Ups No Unit2 Laundry Hook Ups No Unit3 Laundry Hook Ups No Unit4 Laundry Hook Ups No Units With Cooling 0 Units With Dishwashers 0 Units With Dryers 0 Units With Fireplaces 0 Units With Range Oven 4 Units With Refrigerators 4 Units With Washers 0 Water Heater Type Gas

Property Features

Actual Cap Rate 3.5 Additional Property Use N/K Age Restrictions N/K Annual Expense Actual 5200 Annual Expense Projected 5200 Assessments N/K Association ID San Diego Association Of Realtors (Sdar) Buildings 2 Cfd Mello Roos Fee 0.0 Cfd Mello Roos Fee Reflects None Known Cfd Mello Roos Payment Freq N/K Community Imperial Beach Complex Features N/K Complex Park N/A Cross Streets 3rd Street Gross Rent Multiplier Actual 27.2 Gross Rent Multiplier Project 19.2 Gross Scheduled Income Actual 88200 Gross Scheduled Income Project 124800 Home Owners Assoc Fee Includes N/K Home Owners Assoc Payment Freq N/K Home Owners Fee Reflects None Known Home Owners Fees 0.0 Jurisdiction Incorporated Mandatory Remarks None Known Market Area South Bay Miscellaneous N/K Monthly Total Fees 0 Net Operating Income Projected 119600 Other Fee Type N/K Other Fees 0.0 Other Fees Payment Frequency N/K Other Fees Reflect None Known Other Income Actual 0 Pets Yes Possession Close Of Escrow Projected Cap Rate 5.0 Projected Other Income 0.0 Sales Restrictions N/K Security N/K Sewer Septic Sewer Connected Short Sale No Telecommunications Cable (Coaxial) Tenant Pays ElectricityGas/Propane Terms CashConventional Unit Number For Unit1 306 Unit Number For Unit2 308 Unit Number For Unit3 861 Unit Number4 865 Unit1 Deposit 2500 Unit1 Occupied Tenant Unit1 Projected Rent 2600.0 Unit1 Rent Actual 2200.0 Unit2 Deposit 1700 Unit2 Occupied Tenant Unit2 Projected Rent 2600.0 Unit2 Rent Actual 1700.0 Unit3 Deposit 1850 Unit3 Occupied Tenant Unit3 Projected Rent 2600 Unit3 Rent Actual 1850.0 Unit4 Deposit 800 Unit4 Occupied Tenant Unit4 Projected Rent 2600 Unit4 Rent Actual 1600.0 Vacation Rental By Owner No Water Meter On Property Water District California American Zoning R-1:Single

San Diego MLS logo Listing provided courtesy of Big Block Realty, Inc.: [IDXCONTACTINFORMATION]. Listing information © 2023 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 © 2023 San Diego MLS, Inc. Licensed in the state of California.
 
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San Diego CA, 92101