Offer Price:

$3,200,000

Cap Rate:

5.67%

Price/SF:

$589.86

Price/Unit:

$400,000

Gross Building Area:

5,425 SF

Lot Size:

9,750 SF

Status:

Active

Submarket:

Coastal, Central

Property Type:

Apartments

Strategy:

Core

Nestled in the vibrant coastal community of Imperial Beach, 1451 Hemlock Avenue unveils a newly ren-ovated 8-unit apartment building, exuding contemporary charm and comfort. Boasting a unit mix that caters to varied lifestyles, this property offers six thoughtfully designed two-bedroom, one-bathroom units, providing ample space for residents to create their ideal sanctuary. Additionally, there’s a cozy studio unit and a charming one-bedroom, one-bathroom unit, each crafted to offer a perfect blend of functionality and style.

As you approach the building, you’re greeted by a fresh aesthetic, thanks to a series of exterior up-grades. A brand-new roof ensures durability and weather resistance, while new fascia boards and plank balcony siding contribute to the building’s modern appeal. Energy-efficient windows and slid-ing doors flood the interiors with natural light, enhancing the overall ambiance. The exterior doors, complemented by sleek new hardware, offer both security and elegance. Illuminating the pathways and common areas, new exterior lighting adds a welcoming touch, while upgraded landscaping el-evates the curb appeal. With freshly painted exteriors and new address signage, the building stands as a beacon of sophistication in the neighborhood.

Listed By:

Aaron Bove
Senior Managing Director, Investments
aaron.bove@marcusmillichap.com
(858) 945-7094