645 Florence St, Imperial Beach, California 91932, Imperial Beach, 91932 - 2 bed, 1 bath

645 Florence St
Imperial Beach, California 91932
Property Price
SUMMARY
Analysis of 645 Florence St, Imperial Beach, California 91932 is currently available with a list price of $1,399,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Imperial Beach Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Condition Analysis
OVERALL CONDITION SCORE
Property is land value only, full reconstruction required.
The property is marketed as a shovel-ready development opportunity with approved plans for a 10-unit apartment building. Built in 1949, the existing structure is explicitly described in the listing analysis as a tear-down with negligible utility, where the value lies entirely in the land and the entitlements for redevelopment.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7499, living area = 859.
- Shovel-Ready Entitlements
The property comes with fully approved building and grading plans for a 10-unit apartment building and commercial space, significantly reducing entitlement risk and accelerating the construction timeline.
- Strategic Coastal Location
Situated in the core of Imperial Beach, the site offers excellent proximity to the beach, retail corridors, and transit, with the potential for future ocean and San Diego skyline views.
CONSRISKS & DEFICIENCIES
- High Acquisition Basis
The $1.699M price point for a 7,499 sqft lot represents a high cost-per-unit entry, requiring a developer with significant capital and precise execution to ensure project margins.
- Existing Structure Obsolescence
The current 1949 single-family residence provides negligible utility or income, serving essentially as a tear-down that necessitates immediate development to justify the investment.
About 645 Florence St
Prime development opportunity! This rare coastal asset is a shovel-ready mixed-use development opportunity with fully approved building and grading plans for a 10-unit apartment building plus 1 ground-floor commercial space in the core of Imperial Beach. The approved design maximizes density and unit efficiency while capitalizing on potential future ocean and Downtown San Diego skyline views. The project is ideally positioned to attract long-term tenants and commercial users due to its proximity to the beach, major employment centers, retail corridors, and regional transit. The unit mix and modern design provide strong rent growth potential and favorable operating efficiencies. With entitlements secured, developers potentially benefit from a shortened construction timeline, reduced entitlement risk, and immediate vertical development potential. This asset offers multiple exit strategies, including long-term hold for stabilized cash flow, refinance upon lease-up, or sale as a newly constructed coastal multifamily investment in a supply-constrained market. This is a turnkey opportunity to develop a premium mixed-use project in one of Southern California's fastest growing coastal communities. Prime development opportunity! This rare coastal asset is a shovel-ready mixed-use development opportunity with fully approved building and grading plans for a 10-unit apartment building plus 1 ground-floor commercial space in the core of Imperial Beach. The approved design maximizes density and unit efficiency while capitalizing on potential future ocean and Downtown San Diego skyline views. The project is ideally positioned to attract long-term tenants and commercial users due to its proximity to the beach, major employment centers, retail corridors, and regional transit. The unit mix and modern design provide strong rent growth potential and favorable operating efficiencies. With entitlements secured, developers potentially benefit from a shortened construction timeline, reduced entitlement risk, and immediate vertical development potential. This asset offers multiple exit strategies, including long-term hold for stabilized cash flow, refinance upon lease-up, or sale as a newly constructed coastal multifamily investment in a supply-constrained market. This is a turnkey opportunity to develop a premium mixed-use project in one of Southern California's fastest growing coastal communities.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1949
- Lot Size
- 7,499 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 18% |
| Baths | 1.0 | 2.0 | 18% |
| Square foot | 859 | 1,410 | 8% |
| Lot Size | 7,499 | 6,133 | 92% |
| Price | $1.40M | $844.0K | 95% |
| Price per sq ft | $1.6K | $611 | 97% |
| Built year | 1949 | 1959 | 21% |
| HOA | $0 | $0 | 50% |
| Days on market | 45 | 201 | 5% |
Pricing History
Listed for Sale
Mar 3, 2026
$1,399,000
$1,699,000
-18% Price Drop
Initial Listing
Price Change
Feb 26, 2026
$1,699,000
$1,800,000
-6% Price Drop
Initial Listing
Price Change
Jan 21, 2026
$1,800,000
Initial Listing
Sold
Jun 23, 2016
$350,000
Public Record
Sold
Jan 12, 1996
$47,500
Public Record












