Active

1240 70 Holly Avenue

Imperial Beach, CA 91932
Mark as Favorite
Bed 12

Bed

Bath 6

Bath

Acres0.67

Acre(Lot)

1240–1270 Holly Avenue represents a rare opportunity to acquire a well maintained, five unit multifamily asset with meaningful value add and redevelopment potential in Imperial Beach, San Diego’s southernmost coastal community. The property is situated west of Interstate 5 and approximately two miles from the Pacific Ocean, placing it within a rapidly evolving coastal submarket characterized by sustained renter demand, ongoing revitalization, and increasing investor interest. Long term family ownership and consistent upkeep underscore the stability and pride of ownership inherent in this offering. The asset comprises approximately 5,260 rentable square feet across five detached single family style residences, supplemented by a large rear storage structure. The unit mix includes two 2 bedr oom/1 bath units of roughly 860 square feet each, two 3 bedroom/1 bath units of approximately 1,008 square feet each, and one 2 bedroom/2 bath unit of approximately 1,524 square feet. All homes are believed to have been constructed circa 1960 and feature both front and rear yards. Four units are equipped with single car garages, while one unit offers a covered carport, providing ample on site parking and enhancing tenant convenience. The generous outdoor areas present opportunities for future enhancements that may support increased rental value. The property has been selectively upgraded over time, including interior and exterior painting, new flooring, entry improvements, plumbing and drain line upgrades, replacement of water valves and fixtures, electrical fixture updates with GFCI outlet enhancements, one roof replacement with tune ups on remaining roofs, refinished kitchen and bath surfaces, newer wall heaters, and updated fencing. Despite these improvements, current rents remain below market, and ownership estimates an approximate 15 percent total income upside achievable through unit turnover and additional interior modernization. INVESTMENT PROFILE: The five-unit property is currently positioned to generate approximately $13,450 per month, or $161,400 annually, based on projected rents of five single detached residential units at approximately $3,300, $2,950, $2,750, $2,300 and $2,150/month. At the $2,600,000 asking price: Gross Annual Income: $161,400. Gross Cap Rate: approximately 6.20% Estimated Net Cap Rate: approximately 4.5%, depending on actual operating expenses and insurance. The property is zoned R 3000, permitting detached and attached dwelling units at a maximum density of 14 units per acre. Based on the site’s approximate 0.67 acre footprint, the maximum permitted density is nine dwelling units, with the potential for additional units through the State Density Bonus Law or Accessory Dwelling Units (ADUs), subject to municipal review. Developers may also consider full redevelopment; new primary dwelling units would require discretionary approval, and detailed proposals may be submitted to the City of Imperial Beach Planning Department once project parameters are defined. Numerous recently completed projects in the immediate vicinity provide strong proof of concept for redevelopment in this corridor. With Imperial Beach experiencing ongoing revitalization, improved infrastructure, and sustained private investment, the property offers both current cash flow and long term appreciation potential. Its proximity to beaches, dining, retail, and major transportation routes further enhances its desirability. This offering is well suited for investors seeking to expand cash flow, build equity, and capitalize on one of coastal San Diego’s most active and evolving multifamily submarkets.

Read More Expand
Tour with a ByOwner Agent

Detail Ic Property Details

Property Type : ResidentialIncome

Price : $2,600,000

AD Id : 90852850

MLS Id : NDP2608136

Beds : 12

Lot Size : 0.67 Acre

Tax Amount : 5383.00

Year Built : 1960

Garage : 4

County : San Diego

  • Map Map

Map

Map What's Nearby

Map Nearby Areas

Feature Features

  • Interior Features

    CeilingFans, Attic
    Roof: Asphalt
    Appliances: ElectricRange, GasWaterHeater, Refrigerator
    Laundry Features: WasherHookup, GasDryerHookup, InGarage
  • Heating & Cooling

    Has Heating: Yes Heating: NaturalGas, WallFurnace

  • Building Information

    Year Built: 1960
    Building Area Total: 5260
    Construction Materials: Frame, Stucco
    Stories: 1
    Pool Features: None
    Private Pool: No

  • Lot Information

    Lot Dimensions: 134' x 122' x 134' x 121' Main Square Feet: 0.67 Lot Size Acres: 0.67 Lot Size Source: PublicRecords Lot Size Square Feet: 29,185 Lot Description: ElevenToFifteenUnitsAcre,TwentySixToThirtyUnitsAcre,ThirtyOneToThirtyFiveUnitsAcre,BackYard,FrontYard,NearPublicTransit,RectangularLot,StreetLevel,ValueInLand

  • Listing Price Information

    Listing Price: $2600000
    Cash, CashToNewLoan, Conventional, Exchange1031, Submit

  • Tax Information

    Parcel Number: 6331506200 Tax Lot: 14-009 Annual Tax: $5383

  • Parking Information

    Parking Total: 11 AttachedCarport, Concrete, DirectAccess, DoorSingle, Driveway, Garage, Private, RvPotential

    Garage Information

    Has Garage: Yes Garage Space: 4

  • Utility Information

    CableAvailable, ElectricityConnected, SeeRemarks, OverheadUtilities
  • Location Information

    Direction: Please use GPS
Sell a home like this and save $155,501 Find out How

How much is this property worth?

Curious about this home's true market value? Use our free Home Evaluation Tool to instantly get a personalized Comparative Market Analysis (CMA) report. Make smarter, data-driven decisions before you buy.

Images
Loading, please wait...

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
766 768 Delaware St, Imperial Beach, CA, 91932 $1,099,000 4 2 -- 3,615 Sqft
1195 Georgia St A C, Imperial Beach, CA, 91932 $1,688,888 4 3 -- --
611 Silver Strand #1-3, Imperial Beach, CA, 91932 $1,849,999 7 5 -- 5,778 Sqft
843 Georgia St., Imperial Beach, CA, 91932 $850,000 2 2 1,084 7,503 Sqft
1172 Granger St, Imperial Beach, CA, 91932 $835,000 6 2 1,992 --
980 Georgia St, Imperial Beach, CA, 91932 $650,000 2 1 775 --
1150 14th. St., Imperial Beach, CA, 91932 $710,000 3 2 930 3,110 Sqft
1450 Iris Avenue #4, Imperial Beach, CA, 91932 $339,000 1 1 610 38,612 Sqft
1185 87 Georgia St, Imperial Beach, CA, 91932 $875,000 -- -- -- --
914 16 Florence St, Imperial Beach, CA, 91932 $850,000 -- -- -- --

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 09/11/2026 @ 18:00

MLS: NDP2608136 LISTED BY: Thomas Rico, Berkshire Hathaway HomeService 858-487-3520 SOURCE: CRMLS

Homes around $2,600,000

Selling? Save $155,501 when you sell a home like this

Tour with a ByOwner Agent