535 12th St, Imperial Beach, California 91932, Imperial Beach, 91932 - 2 bed, 1 bath
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Imperial Beach, California 91932
This Value-Add Residential Asset presents a High-Potential Investment Opportunity with a List Price of $825,000—positioned below the $834,215 Fair Market Value by 1%. This valuation offers $9,215 in Instant Equity for buyers targeting forced appreciation. While the structure carries a Condition Rating of 6 with dated 1956 finishes, the expansive 6,924 sq ft lot and Zoning M status allow for significant redevelopment or ADU construction. Situated in the coastal Dolphin Bay area, this is a prime acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-equity development project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 535 12th St Subject | $825,000* List Price | 2 | 1 | 780 | $1,070 | - |
A 875 11th Street Active | $775,000 List Price | 2 | 1 | 693 | $1,118 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The property was built in 1956 (68 years old) with no evidence of significant renovations, meeting the >50y criteria. The kitchen and bathroom feature original, severely dated fixtures and finishes in poor condition. The listing description emphasizes the lot size and the opportunity to 'Build Your Dream Home,' suggesting the structure's value is secondary to the land.
Zoned M on a generous 6,924 sq ft lot, this property offers a rare opportunity to build additional units or ADUs, making it an ideal play for investors or owners looking to build rapid equity.
Situated in the sought-after Dolphin Bay neighborhood of Imperial Beach, the property benefits from a prime coastal community setting with strong long-term appreciation potential.
The property is well-suited for owner-occupants utilizing FHA or VA financing, providing an accessible entry point into a high-demand market while simultaneously building an investment portfolio.
With only 780 square feet of living space and a 1956 build date, the current structure is quite small and likely requires a significant remodel to meet modern buyer expectations.
The local schools carry relatively low ratings (ranging from 2 to 4), which may be a deterrent for families and could impact the property's appeal to a broader demographic of buyers.
Located in the Highly Desirable Neighborhood of Dolphin Bay, Imperial Beach, sits a Unique Opportunity to Owner Occupy while Building your Investment Portfolio. Great Development Opportunity. Zoned R-3000, on a 6,924 sq ft lot, with a variety of potential uses. Previously operated as a rental SFR, this entry level investment is ideal for an Owner Occupant utilizing their FHA, VA or a creative investor building equity. Remodel and live/rent in front house with the opportunity to build additional units or ADUs. Come Build Your Dream Home Here in Imperial Beach
No exterior & parking available.
Grades K-6 • 0.3 mi
Grades 7-8 • 1.1 mi
Grades 9-12 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 780 | 1,590 |
| Lot Size | - | 6,110 |
| Price | $825.0K | $858.9K |
| Price per sq ft | $1.1K | $642 |
| Built year | 1956 | 1957 |
| HOA | $0 | $0 |
| Days on market | 81 | 47 |
May 2, 2026
$825,000
Initial Listing