985 Fern Ave, Imperial Beach, California 91932, Imperial Beach, 91932 - 4 bed, 2 bath
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Imperial Beach, California 91932
This Value-Add Coastal Bungalow represents a High-Potential Investment Opportunity with a List Price of $799,900—positioned well below the $836,639 Fair Market Value by 4%. This valuation gap offers $36,739 in Instant Equity. Holding a Condition Rating of 4, the property features a 6,000+ sqft corner lot with confirmed ADU/JADU development options and existing $1,300/mo rental income. Located five minutes from the beach, this asset is optimized for Owner-Occupants looking to house-hack or Buy-and-Hold Investors seeking coastal appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 985 Fern Ave Subject | $799,900* List Price | 4 | 2 | 1,632 | $513 | - |
A 903 11th St Sold | $740,000 | 4 | 2 | 1,654 | $447 | 0.4 mi |
B 557 59 Florida Street Sold | $778,000 | 4 | 2 | 1,620 | $480 | 0.9 mi |
C 743 Iris Ave Sold | $665,000 | 3 | 2 | 1,342 | $496 | 0.4 mi |
D 718 Oneonta Ave Sold | $810,000 | 3 | 2 | 1,787 | $453 | 0.4 mi |
E 561 Spruce St Sold | $735,000 | 3 | 1 | 1,279 | $575 | 0.7 mi |
F 552 E Emory Street E Sold | $816,000 | 3 | 2 | 1,550 | $526 | 0.9 mi |
G 939 Holly Ave Pending | $859,000 List Price | 3 | 2 | 1,470 | $584 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1954, this property is functional and has been maintained with some partial updates, including tile flooring and a refreshed kitchen with newer appliances. However, the overall aesthetic remains dated, the exterior yard requires significant landscaping, and the listing itself highlights the opportunity for further updates and upgrades.
The property sits on a large 6,000+ sqft corner lot with confirmed ADU/JADU development options and reduced setbacks, providing significant value-add opportunities outside the Coastal Commission jurisdiction.
This beach bungalow offers immediate financial flexibility, with a bonus bedroom and ensuite currently rented for $1,300/month and the option to deliver the entire property vacant.
Located just a five-minute drive from the beach in a quiet neighborhood, the property offers a desirable coastal lifestyle while remaining close to schools and local amenities.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1632, other record living area = 1382. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
Built in 1954, the home is noted as needing updates and upgrades, suggesting that buyers should budget for modernization and potential repairs to bring it to contemporary standards.
The local public schools assigned to this address currently hold lower ratings (3-4 out of 10), which may be a drawback for families prioritizing high-performing educational districts.
PERMITTED 3/1 BEACH BUNGALOW | BONUS BEDROOM AND ENSUITE BATHROOM | CAN DELIVER VACANT | 1 BEDROOM RENTED FOR $1300/MO | CONFIRMED ADU/JADU DEVELOPMENT OPTIONS WITH REDUCED SETBACKS - NOT WITHIN COASTAL COMMISSION | NEW WHOLE-HOUSE WATER FILTRATION AND SOFTENER CONVEYS | LOVINGLY MAINTAINED HOME WITH LOTS OF OPPORTUNITY FOR UPDATES, UPGRADES, AND EXPANSION | LARGE 6000+ SQF CORNER LOT | 5 MINUTE DRIVE TO BEACH | QUIET NEIGHBORHOOD AND CLOSE TO ALL
No exterior & parking available.
Grades K-6 • 0.1 mi
Grades 7-8 • 0.9 mi
Grades 9-12 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 61% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,632 | 1,385 | 61% |
| Lot Size | 6,000 | 6,000 | 50% |
| Price | $799.9K | $837.5K | 39% |
| Price per sq ft | $490 | $607 | 28% |
| Built year | 1954 | 1959 | 42% |
| HOA | $0 | $0 | 50% |
| Days on market | 22 | 183 | 8% |
Mar 31, 2026
$799,900
Initial Listing
May 3, 2022
$762,500
Public Record