1221 Florida Street, Imperial Beach, California 91932, Imperial Beach, 91932 - 0 bed, 0 bath
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1221 Florida Street
Imperial Beach, California 91932
ACTIVE
CONDITION: FAIR
0Beds
0Baths
2,574Sq Ft
9,583Lot Size
Property Price
LIST PRICE$1,525,000
EST. MARKET VALUE
$1,469,742
3% AboveMARKET VALUE
SUMMARY
This triplex presents a High-Potential Investment Opportunity with a List Price of $1,525,000—positioned above the $1,469,742 Fair Market Value. While the property requires modernization to reach its full potential, the 9,583 sqft lot offers significant ADU development potential and value-add income upside. With a Condition Rating of 4, the asset provides a stable foundation for Buy-and-Hold Investors and Value-Add Developers to increase cash flow through strategic renovations and unit expansion in a prime coastal location.
Estimated Market Value
$1,469,742
Based on Realkey algorithm analyzing recent comparable sales in Imperial Beach.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1221 Florida Street Subject | $1,525,000* List Price | 0 | 0 | 2,574 | $571 | - |
A 904 12th Street Sold | $1,075,000 | 0 | 0 | 2,350 | $457 | 0.4 mi |
B 777 Cypress Avenue Active | $1,375,000 List Price | 0 | 0 | 2,266 | $607 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1970, the property is over 50 years old but remains functional and occupied. The interior shows some updates like newer laminate flooring, but the kitchen features dated oak cabinetry and older appliances. The presence of original-style wall heaters and older window units indicates dated systems that need modernization to achieve market rents.
PROSSTRENGTHS & OPPORTUNITIES
- Development Potential
The expansive 9,583 sqft lot and large yard provide a significant opportunity for ADU development or additional units, offering substantial long-term value appreciation.
- Value-Add Income Opportunity
With current rents positioned below market rates, this triplex offers immediate upside potential for investors to increase cash flow through strategic lease adjustments.
- Superior Tenant Amenities
The inclusion of two designated off-street parking spaces and private storage for every unit is a rare and highly competitive feature in the coastal rental market.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =9583, other record lot size in square feet = 9522. Living area discrepancy between mls listing and other public or private record. mls listing living area = 2574, other record living area = 2686.
- Local School Ratings
The property is served by schools with lower performance ratings (3/10 and 4/10), which may limit the appeal for families prioritizing high-ranking educational districts.
- Property Age and Maintenance
Constructed in 1970, the building may require near-term capital expenditures for modernization or system upgrades to achieve and sustain top-of-market rental rates.
About 1221 Florida Street
Excellent investment opportunity in Imperial Beach! This triplex offers strong income potential with significant upside for an investor looking to increase rents and potentially add additional units. Current rents are below market, providing an opportunity to improve future cash flow, while the expansive yard may offer potential for additional units or ADU development, subject to City approval and applicable zoning requirements. The property consists of three individual units, each featuring a functional floor plan with a living room, dining area, kitchen, two bedrooms, and one bathroom. Each unit also includes its own private storage space. Parking is abundant, with each unit having two designated off-street parking spaces conveniently accessible from the rear alley. Ideally located near Oneonta Elementary School, the Imperial Beach Pier, beaches, shopping, dining, and convenient access to Interstate 5. Whether you're looking to expand your investment portfolio, improve existing rents, or explore future development opportunities, this property offers tremendous potential in a highly desirable Southern California coastal community. A must-see opportunity!
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1970
- Lot Size
- 9,583 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Imperial Beach Unified Schools
Oneonta Elementary School
Grades K-6 • 0.2 mi
3/10
Mar Vista Academy
Grades 7-8 • 0.7 mi
3/10
Mar Vista Senior High School
Grades 9-12 • 0.9 mi
4/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,574 | 2,000 |
| Lot Size | 9,583 | 7,287 |
| Price | $1.52M | $911.7K |
| Price per sq ft | $592 | $437 |
| Built year | 1970 | 1972 |
| HOA | $0 | $0 |
| Days on market | 33 | 78 |
Pricing History
Listed for Sale
Aug 7, 2026
$1,525,000
Initial Listing