We are thrilled to present for sale the Six (6) Unit apartment property at 637 10th Street, in the Dolphin Bay area of Imperial Beach, within close proximity to the Bayshore Bikeway, and easy access to several neighborhood shopping centers and Silver Strand. There are: Four (4) spacious 1-bedroom/1-bathroom… Read More units; and Two (2) large 3-bedroom/2-bathroom units. Select units have private outdoor areas, and/or have been upgraded with vinyl plank flooring and updated kitchens and bathrooms. The property is on a corner lot and boasts eleven (11) surface off-street parking spaces, as well as a separate laundry room on-site. Pricing reflects a low $446/SF of rentable building area, suggesting good upside via continued modernization efforts, sufficient to justify upper end market rents for the immediate area. Built of wood frame construction upon a concrete on grade foundation, with flat roof and stucco exterior, apartments all have screen doors and aluminum frame windows. The apartment building is separately metered for electricity and master metered for gas. Inside, the units have ceiling fans/light fixtures, radiant heat, and standard appliance packages. An opportunity exists to modernize the apartments with higher quality finishes, fixtures and appliances, sufficient to justify upper end rents for the area, in line with upgraded units nearby. Owned by the same family for around 20 years, this is a rare opportunity with upside in the desirable northerly Dolphin Bay area of IB, near the Bayshore Bikeway and Silver Strand. Close proximity to the beach and its ever improving dining/brewery/retail scene is also a plus! Read Less
Property listed by Palma Commercial, Joseph Burrough 858-352-6742
Listing Snapshot
Days Online
72
Last Updated
Property Type
Other
Year Built
1978
MLS Number
250031120SD
30 Days Snapshot Of 91932
$957k
+11%
(avg) sold price
10
-44%
homes sold
70
-22%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
GasWaterHeater
Building
Built in 1978, Levels: Two, 2 stories, 1 building
Cooling
SeeRemarks
Fence
Partial
Heating
Radiant, SeeRemarks
Income
Net operating income: $83,740
Roof
RolledHotMop
Tenant Pays
Electricity, Gas
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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