204 Evergreen AveImperial Beach, CA 91932

Property Details for 204 Evergreen Ave

Year built

1965

Property size (Sq ft)

2,100 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional multifamily investment opportunity in Imperial Beach, California, presents a unique blend of immediate income and significant upside potential. Located at 204 Evergreen Ave, this property consists of two buildings on a 4,770 square foot lot (APN 625-361-23-00). The main structure is a two-story building housing a one-bedroom, one-bathroom unit and a studio unit. A separate, well-appointed two-bedroom, one-bathroom single-family residence completes the property. All three units share a common laundry area. Each building includes a detached garage, offering extra storage or potential for future expansion. Built in 1965 and renovated in 2017, the property boasts a total of 2,100 square feet. Currently operating at 66% occupancy, the property generates a Net Operating Income (NOI) of $21,936, with a pro-forma NOI of $66,052 and a pro-forma cap rate of 4.26%. The asking price is $1,549,000, representing a price per unit of $516,333.33 and a price per square foot of $737.62. Its prime location, one block from the beach and close to shops and restaurants, makes it ideal for both owner-occupancy and lucrative rental income. This property offers a rare chance to acquire a multifamily asset with strong income potential and significant value-add opportunities in a highly desirable coastal location.

Location Insight

City

Imperial Beach

County

San Diego

State

California

Latitude

32.5797

Longitude

-117.129

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].