8 Units in Imperial Beach Sold for $1,260,000

SAN DIEGO - Dec. 5, 2014 - PRLog -- The Imperial Villa Apartments have been sold for $1,260,000. Located at 1343 Imperial Beach Blvd., Imperial Beach, CA 91932 in the burgeoning South Bay submarket of Imperial Beach. This 8 unit apartment complex, constructed in 1971 located just 12 blocks to the beach, offers tenants on-site parking, communal laundry room, and balconies.

The property was sold "As-Is" and 100% occupied. The Imperial Villa Apartments have an average unit size of approximately 856 sf and consist of (8) 2 Bedroom / 1Bath units on a 12,196 sf lot.

The property sold for $157,500 per unit and $184.00 per square foot. The value indicators at time of sale were: Gross Rent Multiplier = 12.1 and CAP Rate = 5.0%. At close of escrow the rental rates averaged $1,100 for the 2 bedroom units. The seller was The Susan Dolkas Trust and was represented by Dave Savage of ACI Apartments. The buyer was The Mar Group and was represented by Mark Morgan of ACI Apartments.

For more information please contact:

Mark Morgan at (619) 300-9070

markmorgan@aciapartments.com

Dave Savage at (619) 300-8090

davesavage777@gmail.com

Since 1982, Apartment Consultants Inc. (ACI) has been helping investors build wealth through innovative, proven apartment investing strategies. In the last two decades, ACI has closed more San Diego County income property escrows than any other firm.