1413 Hemlock Ave 6 Unit Apartment Building $2,658,594 CAD ($443,099 CAD/Unit) 5.34% Cap Rate Imperial Beach, CA 91932
INVESTMENT HIGHLIGHTS
- Upgraded Beach Units
- Low maintenance and excellent rents
- On-Site Laundry
- Excellent location
- Concrete Driveway
- Functional floor plans with roomy design
EXECUTIVE SUMMARY
This newly painted property has recently underwent numerous upgrades. The location being near the beach makes this property a great experience for all ages. As the building is in great condition, this reduces the required maintenance. The appearance of this property allows it to stand our from other residences in the community. In addition, this property has demonstrated that it has a stable income stream. With its new vinyl windows, entry doors, kitchens, granite counters and many other upgrades, this building has proven itself to be a strong competitor. The community also offers many amenities for their residents such as the assigned parking space and on-site laundry facility.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$210,466
|
$70.16
|
| Other Income |
$2,499
|
$0.83
|
| Vacancy Loss |
$6,247
|
$2.08
|
| Effective Gross Income |
$206,718
|
$68.91
|
| Taxes |
$35,457
|
$11.82
|
| Operating Expenses |
$29,175
|
$9.73
|
| Total Expenses |
$64,632
|
$21.54
|
| Net Operating Income |
$142,086
|
$47.36
|
PROPERTY FACTS
| Price | $2,658,594 CAD |
| Price Per Unit | $443,099 CAD |
| Sale Type | Investment |
| Cap Rate | 5.34% |
| Gross Rent Multiplier | 12.63 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1971/2024 |
| Parking Ratio | 2/1,000 SF |
| Zoning | R-3 - Residential Multi-Family |
AMENITIES
UNIT AMENITIES
- Disposal
- Ceiling Fans
- Refrigerator
- Range
- Tub/Shower
- Double Pane Windows
- Window Coverings
SITE AMENITIES
- Laundry Facilities
- Gas Range
- Recycling
- Smoke Free
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $2,846 CAD | 3,000 |
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PROPERTY TAXES
| Parcel Number | 633-232-48 | Total Assessment | $2,243,831 CAD (2024) |
| Land Assessment | $1,645,476 CAD (2024) | Annual Taxes | $35,457 CAD ($11.82 CAD/SF) |
| Improvements Assessment | $598,355 CAD (2024) | Tax Year | 2025 |
