637 10th St Immeuble residentiel 6 lots 1 479 016 € (246 503 €/Lot) Taux de capitalisation 4,88 % Imperial Beach, CA 91932

It is an honor to present for sale the six (6) unit apartment property at 637 10th Street in Imperial Beach, adjacent the Dolphin Bay neighborhood, close to the Bayshore Bikeway and several neighborhood retail centers. The unit mix consists of four (4) one-bedroom/one-bathroom units and two (2) three-bedroom/two-bathroom units, two of which have private patios/balconies and/or have been updated with vinyl plank flooring. Units are spacious, and the property has a total of eleven (11) surface off-street parking spaces, as well as a laundry room on-site.
Built of wood-frame construction upon a concrete slab foundation with a flat roof and stucco exterior, with screen doors and aluminum frame windows. The apartment building is separately metered for electricity and master metered for gas. Inside, the units have either radiant or wall heat, and standard (electric) appliances. Two of the units have been updated with vinyl plank flooring throughout, as well as newer bathroom vanities. Several units have ceiling fan/light fixtures in the living room and bedrooms. A new commercial water heater was also recently installed (5/2025).
An opportunity exists to modernize the apartments with higher-end finishes, fixtures and appliances, sufficient to justify higher rents and much improved operating performance, in line with upgraded multifamily units in the immediate area. Owned by the same family for around 20 years, this is a rare opportunity with upside potential, in the desirable northerly (Dolphin Bay) section of Imperial Beach, near the Bayshore Bikeway, providing easy access to Silver Strand and Coronado-area beaches. The property is also close to Imperial Beach-area beaches and retail (+/-11 blocks), with its increasingly vibrant mixture of restaurants, breweries, et al.
Located within 23 minutes biking distance and 10 minutes driving distance from the new Gaylord Pacific Resort & Convention Center, with tons of amenities and tremendous growth on the horizon, as development of the rest of the bayfront acreage site is being determined for subsequent phases of the planned build-out. This area is expected to undergo tremendous growth on the horizon, as the rest of the Chula Vista Bayfront Plan moves forward, which is a huge catalyst for many good things to come in the immediate area.