277 Evergreen Ave - Apartments FOR SALE


Imperial Beach, CA 91932
$2,100,000 USD
760-822-9861
277 Evergreen Ave, Imperial Beach, CA for Sale
$2,100,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

277 Evergreen Ave
Imperial Beach, CA 91932


HIGHLIGHTS

  • Premier Imperial Beach location steps from the beach with significant rental upside
  • Walking distance to the beach, employment, restaurants, shopping, cafes, schools, parks, and entertainment
  • Ideal unit mix with spacious one- and two-bedroom floor plans, individually metered for gas & electric
  • Private laundry facility and 6 parking spaces for tenant convenience
  • Extremely competitive housing market ideal for multifamily investment
  • Convenient access to the Silver Strand and Interstate 5

OVERVIEW

CBRE is pleased to offer for sale 277 Evergreen, a 6-unit residential community steps from the beach with modern architecture and well manicured landscaping to create the perfect living environment. An excellent investment opportunity, 277 Evergreen offers a new investor significant immediate rental upside. Built in 1973, the property features an ideal unit mix of spacious one-bedroom and two-bedroom floor plans, individually metered for gas and electric. The property also has 6 parking spaces and a private laundry facility for the tenant’s convenience. Recent capital improvements include new electrical main and sub panels, roof (replaced November 2020), and passed SB 721/E3 balcony inspection on August 7, 2024. The property enjoys proximity to employment, restaurants, entertainment, shopping, parks, schools, and the beach. As a result, the area attracts young professionals, families, retirees, and Naval personnel from the Navy Seal Training Center and Naval Outlying Landing Field, all seeking a beach lifestyle with strong sense of community. All of which make Imperial Beach ideal for multifamily investment.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$459 USD /SF

# OF UNITS

6

PRICE/UNIT

$350,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

R3

APN/PARCEL ID

625-362-14

ASK ABOUT THIS PROPERTY

Philip BuckleyCBRE, Inc.More Info
760-822-9861

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Philip BuckleyCBRE, Inc.More Info
760-822-9861

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