Multifamily
Imperial Terrace Apartments
5460 Imperial Ave, San Diego, CA 92114
Listing Price: $6,300,000
Investment Overview
The sale is contingent on a 15-day Notice of Proposed Action to the heirs of the estate and their consent or lack of objection, pursuant to California Probate Code Sections 10587–10591.
1. The seller is the probate administrator.
2. Any personal property conveyed is without warranty.
3. This sale is AS-IS. All reports are provided for disclosure purposes only. The seller will not make any repairs.
The Imperial Terrace Apartments is a 28-unit garden-style apartment community located just a few miles from downtown San Diego. This gated complex consists of five two-story buildings on a 23,958 SF (.55-acre) flag-shaped lot. Built in 1984 and renovated in 2012, the property has been well maintained under professional management. There is immediate upside in rents, with comparable nearby updated units achieving rates approximately 15% higher.
With a desirable unit mix of mostly two-bedroom units, the property appeals to families with young children. Several elementary, middle, and high schools are located nearby. In addition, residents benefit from numerous shopping options, including several grocery stores and a Walmart Supercenter just a short drive away. Tenants also enjoy the convenience of multiple public transportation lines and easy access to the 805 and 5 freeways.
Imperial Terrace Apartments
Investment Highlights
- Excellent Unit Mix with Majority of 2BR units
- Gated Complex with plenty of Gated Off Street Parking and 6 Garages. On Site Laundry Facilities.
- Rents are Approximately 15% Below Market. All tenants are on Month to Month Leases
- Potential to Add ADUs on large lot or Convert Garages to ADUs
- Built in 1984 And Renovated in 2012. All new Pitched Roofs in 2019. Select Units with updated Flooring and Countertops. Low Irrigation Landscaping to help save on water costs.
Exclusively Listed By
Financing By
Listing Price: $6,300,000
Investment Highlights
- Excellent Unit Mix with Majority of 2BR units
- Gated Complex with plenty of Gated Off Street Parking and 6 Garages. On Site Laundry Facilities.
- Rents are Approximately 15% Below Market. All tenants are on Month to Month Leases
- Potential to Add ADUs on large lot or Convert Garages to ADUs
- Built in 1984 And Renovated in 2012. All new Pitched Roofs in 2019. Select Units with updated Flooring and Countertops. Low Irrigation Landscaping to help save on water costs.
Investment Overview
The sale is contingent on a 15-day Notice of Proposed Action to the heirs of the estate and their consent or lack of objection, pursuant to California Probate Code Sections 10587–10591. 1. The seller is the probate administrator. 2. Any personal property conveyed is without warranty. 3. This sale is AS-IS. All reports are provided for disclosure purposes only. The seller will not make any repairs. The Imperial Terrace Apartments is a 28-unit garden-style apartment community located just a few miles from downtown San Diego. This gated complex consists of five two-story buildings on a 23,958 SF (.55-acre) flag-shaped lot. Built in 1984 and renovated in 2012, the property has been well maintained under professional management. There is immediate upside in rents, with comparable nearby updated units achieving rates approximately 15% higher. With a desirable unit mix of mostly two-bedroom units, the property appeals to families with young children. Several elementary, middle, and high schools are located nearby. In addition, residents benefit from numerous shopping options, including several grocery stores and a Walmart Supercenter just a short drive away. Tenants also enjoy the convenience of multiple public transportation lines and easy access to the 805 and 5 freeways.
Exclusively Listed By
Financing By
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