1193 Florence St - Apartments FOR SALE


Imperial Beach, CA 91932
$5,000,000 USD
619-358-3748
1193 Florence St, Imperial Beach, CA for Sale
$5,000,000 USD
Apartments - FOR SALE
1/25
null | 5.16% Cap Rate

1193 Florence St
Imperial Beach, CA 91932


HIGHLIGHTS

  • TURN-KEY - Recently Renovated Property
  • LARGE LOT - 9510 SF Lot
  • STRONG UNIT MIX - Comprised of Five 1 Bedroom 1 Bathroom and Seven 2 Bedroom 1 Bathroom Unit

OVERVIEW

IB Villas is a 12-unit luxury apartment community located in Imperial Beach, fully renovated in 2023–2024. The property sits on a 9,583 square foot lot and offers a desirable mix of five 1-bedroom/1-bath units and seven 2-bedroom/1-bath units. Each residence has been comprehensively modernized with luxury finishes, new building systems, and functional layouts designed to maximize livability and long-term tenant demand. The interiors feature stainless-steel appliance packages including electric stove/oven with exhaust hood, refrigerator, and garbage disposal, complemented by new cabinetry, quartz counter-tops, designer tile back-splashes, and luxury vinyl plank flooring. Bathrooms include shower/tub combinations with tile surrounds, modern vanities with quartz counter-tops and under-mount sinks, medicine cabinet storage, and updated plumbing fixtures. Each unit is equipped with in-unit washer/dryers, ceiling fans, flush-mount and pendant lighting, and energy-efficient vinyl windows that enhance comfort and efficiency throughout. The property offers 14 asphalt-paved surface parking spaces, a landscaped communal courtyard with trees and shrubs that create a welcoming outdoor environment, and all units are separately metered for gas and electricity, ensuring strong operating efficiency. With functional floor plans, modern finishes, and excellent curb appeal, IB Villas presents a turn-key multifamily investment opportunity in one of San Diego’s most promising coastal sub-markets.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$601 USD /SF

# OF UNITS

12

PRICE/UNIT

$416,667

CAP RATE

5.16%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

IB Villas

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,510 SF

ZONING

R2

APN/PARCEL ID

633-022-11

ASK ABOUT THIS PROPERTY

Seth WatjeStarker West, IncMore Info
619-358-3748

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Seth WatjeStarker West, IncMore Info
619-358-3748

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.