Multifamily

556-58 8th Street

556 8th St, Imperial Beach, CA 91932

Listing Price: $1,300,000

Cap Rate
2.76%
Number of Units
4
Price/Unit
$325,000
Price/Gross SF
$90.85
Gross SF
14,310

Investment Overview

Marcus & Millichap is pleased to present 556-558 8th Street, a four-unit apartment complex just eight blocks from the beach in the highly gentrifying neighborhood of Imperial Beach, California. This is the first time the property has been to market with the original developer owners who built the property in 1971. The property consists of a desirable mix of all 2-bedroom / 1-bath, 775 square foot units, each having their own separate roll-up garage and garage door openers. The building sit on a single 14,310 square foot parcel. Three of the four units were completely renovated to the studs in 2007, 2009 and 2013 and feature individual washer and dryers, custom cabinetry, granite countertops, updated appliances, faucets, switches, lighting, tile and vinyl plank flooring, baseboards and dual pane windows. Roofs were replaced down to the plywood in 2008 and 2002 with 30-year, pitched composite roofs and fully painted in April of 2020. The property also includes a storeroom which current ownership uses for supply storage. Only a few blocks away from the San Diego Bay, this pedestrian and biker friendly neighborhood is lauded for its laid back, coastal vibe. Imperial Beach is on the rise with several mixed-use development projects in the works within just a few blocks of the subject property. Projects include Blue Wave Development, Siesta Homes, and Breakwater Town Center with Hampton Inn & Suites. The city recently approved a revitalization plan encouraging investment, promoting economic development, and improving all transit mobility.

Investment Highlights

  • Highly Gentrifying Neighborhood Of Imperial Beach 8 Blocks To Beach
  • Desirable Mix Of All 2-Bedroom Units With Separate Roll-Up Garages
  • 3 Of 4 Units Have Been Fully Renovated & Significant Exterior Rehab

Exclusively Listed By

Multifamily

556-58 8th Street

Listing Price: $1,300,000

Cap Rate
2.76%
Number of Units
4
Price/Unit
$325,000
Price/Gross SF
$90.85
Gross SF
14,310

Investment Highlights

  • Highly Gentrifying Neighborhood Of Imperial Beach 8 Blocks To Beach
  • Desirable Mix Of All 2-Bedroom Units With Separate Roll-Up Garages
  • 3 Of 4 Units Have Been Fully Renovated & Significant Exterior Rehab

Investment Overview

Marcus & Millichap is pleased to present 556-558 8th Street, a four-unit apartment complex just eight blocks from the beach in the highly gentrifying neighborhood of Imperial Beach, California. This is the first time the property has been to market with the original developer owners who built the property in 1971. The property consists of a desirable mix of all 2-bedroom / 1-bath, 775 square foot units, each having their own separate roll-up garage and garage door openers. The building sit on a single 14,310 square foot parcel. Three of the four units were completely renovated to the studs in 2007, 2009 and 2013 and feature individual washer and dryers, custom cabinetry, granite countertops, updated appliances, faucets, switches, lighting, tile and vinyl plank flooring, baseboards and dual pane windows. Roofs were replaced down to the plywood in 2008 and 2002 with 30-year, pitched composite roofs and fully painted in April of 2020. The property also includes a storeroom which current ownership uses for supply storage. Only a few blocks away from the San Diego Bay, this pedestrian and biker friendly neighborhood is lauded for its laid back, coastal vibe. Imperial Beach is on the rise with several mixed-use development projects in the works within just a few blocks of the subject property. Projects include Blue Wave Development, Siesta Homes, and Breakwater Town Center with Hampton Inn & Suites. The city recently approved a revitalization plan encouraging investment, promoting economic development, and improving all transit mobility.

Exclusively Listed By

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