Property Detail

Description

619 11th Street is a solid 8-unit apartment complex located north of Palm Avenue in Imperial Beach. The strong unit mix features two 2 bedroom / 1 bathroom and six 1 bedroom / 1 bathroom units in a 5,040 square foot structure built in 1973 and situated on a 7,710 square foot lot with 11+ parking spaces. Since 2023 many upgrades have been made to the property including a new roof, gutter system and improvements to the drainage. The property has new exterior paint and exterior lighting as well as new common area concrete and a restriped parking lot. Balconies were inspected and repaired as well as the electrical upgraded/replaced. Other improvements included cleaning up the landscaping, renovating the laundry room and installing a new fence behind the building. There exists over 20% upside in the current rents. Imperial Beach is the southernmost coastal submarket in San Diego County and boasts 3.5 miles of beaches popular for surfing, swimming and spots such as Pier Portwood Plaza and Dunes Park. The Imperial Beach Pier, restaurants, breweries and new retails shops are available near the coast. This submarket is located south of Coronado Island and connected by the Strand. Major Military bases such as North Island Coronado, the Imperial Beach Naval Helicopter Airfield and the new $1 Billion Navy SEAL training facility are all within close proximity. Imperial Beach is a growing beach community with little recent new development leading to limited housing options and room to grow rents and value.