Listing provided courtesy of Chris Robinson of Mango Tree Real Estate Corp.. Last updated 2024-04-28 08:51:14.000000. Listing information © 2022 Sandicor.
Asking Price: $13,500,000
1019 Imperial Beach Blvd, Imperial Beach CA 91932
Community: 91932 - Imperial Beach
This Commercial/Residential property was built in 0 and is priced at $13,500,000. Please see the additional details below.
The Sussex Gardens Apts is a true pride of ownership 53 unit community with significant value add potential via new more proactive Management. There are 36-1Bed units of various floorplans, 16-2Bed units with two separate floorplans and a detached 3Bed house on Ivy Lane (same parcel) totaling 53 current leased units. Current ownership has kept rents significantly under market while nearly half of the units have been remodeled in the last few years with new wood cabinets, flooring, quartz countertops, new vanities, paint, ceiling popcorn removal among other upgrades. Common area amenities include ample parking, a clubhouse, pool, 8-garages and a large laundry room with owned equipment that produces significant extra monthly income. Ownership is charging extra rent for select extra parking spaces and pet rent. ADU possibilities exist from the current clubhouse, a bonus storage unit on the front upper level of the property and 8 detached garages on the West side of the property.
