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    1036 1042 Fern Ave

    Imperial Beach, CA 91932
    • $2,550,000
    • STATUS: Pending
    • ON SITE: 69 days
    • ID#: 210005121
    Pending
    UPDATED: 63 min ago
    $2,550,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2018
    County:

    School Ratings & Info

    Description

    Pleased to present for sale a newly constructed 4 townhome complex in Imperial Beach, CA. Constructed in 2018, the property rests on an 11,065 SF lot and offers 6,316 of rentable SF. 1036-1042 Fern Ave has a completed condo map, each unit with its own APN and separate utility meters. Each townhome is comprised of spacious 3-Bedroom/2.5-Bathroom floor plans. These townhomes feature master en-suite bathrooms, fenced-in private patios (front unit also has large fenced yard), and attached double car finished garages. Own 100% of the complex with full control and no HOA compliance. There are no HOA fees for this property. This is a rare opportunity for an investor to purchase a high performing asset with multiple exit strategies. Imperial Beach is on the rise with several mixed-use development projects in the works. Emerging as one of San Diegos most sought-after rental markets, Imperial Beach attracts high quality and reliable tenants. This property is located only a short drive from both the main Naval Amphibious Base Coronado and Naval Special Warfare Center. In addition to the tenants Imperial Beach draws in for its coastal location and unique culture, the Navy only increases demand of quality tenants as most receive housing allowances between $2,000 - $3,800/ month. This asset is poised for long term appreciation and is located on the coast with the investors longevity in mind. According to the San Diego Union Tribune, the median price of a house in San Diego could be around $776,000.00 by the end of 2021. Other Fees: 0 Sewer: Sewer Connected Unit # for Unit 1: 1036 Unit # for Unit 2: 1038 Unit # for Unit 3: 1040 Unit # for Unit 4: 1042 Number of Furnished Units: 0

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-07T17:36:48.943. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Bhagat Group. Licensed in the State of California, USA.
    www.propertycove.com/homes/114580045
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    1036 1042 Fern Ave Imperial Beach, CA 91932

    • Price: $2,550,000
    • Status: Pending
    • Updated: 63 min ago
    • ID#: 210005121
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    2018
    Built
    Neighborhood:
    Imperial Beach
    County:
    San Diego
    Area:
    91932 - Imperial Beach
    Property Description
    Pleased to present for sale a newly constructed 4 townhome complex in Imperial Beach, CA. Constructed in 2018, the property rests on an 11,065 SF lot and offers 6,316 of rentable SF. 1036-1042 Fern Ave has a completed condo map, each unit with its own APN and separate utility meters. Each townhome is comprised of spacious 3-Bedroom/2.5-Bathroom floor plans. These townhomes feature master en-suite bathrooms, fenced-in private patios (front unit also has large fenced yard), and attached double car finished garages. Own 100% of the complex with full control and no HOA compliance. There are no HOA fees for this property. This is a rare opportunity for an investor to purchase a high performing asset with multiple exit strategies. Imperial Beach is on the rise with several mixed-use development projects in the works. Emerging as one of San Diegos most sought-after rental markets, Imperial Beach attracts high quality and reliable tenants. This property is located only a short drive from both the main Naval Amphibious Base Coronado and Naval Special Warfare Center. In addition to the tenants Imperial Beach draws in for its coastal location and unique culture, the Navy only increases demand of quality tenants as most receive housing allowances between $2,000 - $3,800/ month. This asset is poised for long term appreciation and is located on the coast with the investors longevity in mind. According to the San Diego Union Tribune, the median price of a house in San Diego could be around $776,000.00 by the end of 2021. Other Fees: 0 Sewer: Sewer Connected Unit # for Unit 1: 1036 Unit # for Unit 2: 1038 Unit # for Unit 3: 1040 Unit # for Unit 4: 1042 Number of Furnished Units: 0
    Exterior Features

    Fencing Partial

    Interior Features

    Cooling Central Air Cooling YN Yes Heating Forced AirNatural Gas Heating YN Yes

    Property Features

    Cap Rate 3.6 Gross Scheduled Income 131220 Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional Net Operating Income 91681 Senior Community YN No Tenant Pays ElectricityTrash CollectionWater

    Listing provided courtesy of Carson Trujillo of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-07T17:36:48.943. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Bhagat Group. Licensed in the State of California, USA.
     
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    The Bhagat Group
    22939 Hawthorne Blvd, Suite 203
    Torrance CA, 90505