1240-70 Holly Ave

Highlights:

• • Total rentable area: ~5,260 SF.
• • Unit count: 5 detached single family style homes plus a large rear storage shed.
• • Near term income: 1270 Holly is vacant and turnkey ready to lease at market; 1268 Holly is month to month at $1,000/month with tenant willing to vacate at sale.
• • Upside potential: Estimated ~15% total income increases achievable through rent resets and interior upgrades.
• • Location: West of I 5, two miles to the beach, close to amenities and transit; area shows recent comparable redevelopment activity.

Description:

1240–1270 Holly Avenue represents a rare opportunity to acquire a well maintained, five unit multifamily asset with meaningful value add and redevelopment potential in Imperial Beach, San Diego’s southernmost coastal community. The property is situated west of Interstate 5 and approximately two miles from the Pacific Ocean, placing it within a rapidly evolving coastal submarket characterized by sustained renter demand, ongoing revitalization, and increasing investor interest. Long term family ownership and consistent upkeep underscore the stability and pride of ownership inherent in this offering.
The asset comprises approximately 5,260 rentable square feet across five detached single family style residences, supplemented by a large rear storage structure. The unit mix includes two 2 bedroom/1 bath units of roughly 860 square feet each, two 3 bedroom/1 bath units of approximately 1,008 square feet each, and one 2 bedroom/2 bath unit of approximately 1,524 square feet. All homes are believed to have been constructed circa 1960 and feature both front and rear yards. Four units are equipped with single car garages, while one unit offers a covered carport, providing ample on site parking and enhancing tenant convenience. The generous outdoor areas present opportunities for future enhancements that may support increased rental value.
The property has been selectively upgraded over time, including interior and exterior painting, new flooring, entry improvements, plumbing and drain line upgrades, replacement of water valves and fixtures, electrical fixture updates with GFCI outlet enhancements, one roof replacement with tune ups on remaining roofs, refinished kitchen and bath surfaces, newer wall heaters, and updated fencing. Despite these improvements, current rents remain below market, and ownership estimates an approximate 15 percent total income upside achievable through unit turnover and additional interior modernization.
Operationally, 1270 Holly is currently vacant and in turn key condition, ready to be leased at prevailing market rates. 1268 Holly is occupied on a month to month basis at $1,000 per month, with the tenant prepared to vacate upon sale, enabling immediate rent repositioning. This dynamic creates an attractive scenario for investors seeking both near term cash flow and longer term value creation while exploring development entitlements for under utilized portions of the lot.
The property is zoned R 3000, permitting detached and attached dwelling units at a maximum density of 14 units per acre. Based on the site’s approximate 0.67 acre footprint, the maximum permitted density is nine dwelling units, with the potential for additional units through the State Density Bonus Law or Accessory Dwelling Units (ADUs), subject to municipal review. Developers may also consider full redevelopment; new primary dwelling units would require discretionary approval, and detailed proposals may be submitted to the City of Imperial Beach Planning Department once project parameters are defined. Numerous recently completed projects in the immediate vicinity provide strong proof of concept for redevelopment in this corridor.
With Imperial Beach experiencing ongoing revitalization, improved infrastructure, and sustained private investment, the property offers both current cash flow and long term appreciation potential. Its proximity to beaches, dining, retail, and major transportation routes further enhances its desirability. This offering is well suited for investors seeking to expand cash flow, build equity, and capitalize on one of coastal San Diego’s most active and evolving multifamily submarkets.
Interested parties may access the property via driveways only. DO NOT DISTURB TENANTS.

Discover the allure of San Diego County at this prime location, surrounded by stunning coastal beauty and a thriving rental market. Imperial Beach, CA, is renowned for its laid-back coastal lifestyle and offers a range of amenities suitable for Multifamily / High-Rise investors. The area boasts proximity to the beach, the scenic Imperial Beach Pier, and the popular Silver Strand State Beach. With easy access to dining, shopping, and recreational opportunities, this sought-after locale promises a desirable living experience for tenants. Embrace the potential for prime returns in this coveted Southern California coastal community.

Offering Memorandum

1240–1270 Holly Avenue, Imperial Beach — A well maintained five unit multifamily compound on a 0.67 acre lot, located west of the 5 Freeway and approximately 2 miles from the Pacific Ocean. This coastal South County asset delivers immediate cash flow from cared for, detached homes while offering meaningful value add and redevelopment upside in a market experiencing active investment and new construction.
Investment Highlights
• Total rentable area: ~5,260 SF.
• Unit count: 5 detached single family style homes plus a large rear storage shed.
• Near term income: 1270 Holly is vacant and turnkey ready to lease at market; 1268 Holly is month to month at $1,000/month with tenant willing to vacate at sale.
• Upside potential: Estimated ~15% total income increases achievable through rent resets and interior upgrades.
• Location: West of I 5, two miles to the beach, close to amenities and transit; area shows recent comparable redevelopment activity.
Unit Mix and Parking
Unit Beds / Baths Approx. SF Parking
Unit 1 2 bed / 1 bath 860 SF 1 car garage
Unit 2 2 bed / 1 bath 860 SF 1 car garage
Unit 3 3 bed / 1 bath 1,008 SF 1 car garage
Unit 4 3 bed / 1 bath 1,008 SF 1 car garage
Unit 5 2 bed / 2 bath 1,524 SF Covered carport
Storage Shed — 516 SF —
Condition and Recent Improvements
Long term single family ownership with selective, practical upgrades reflecting pride of ownership. Recent work includes:
• Interior and exterior painting; new flooring in select units.
• Front entry enhancements and newer fencing.
• Plumbing upgrades including drain line material replacements and multiple new water valves.
• Electrical updates with upgraded fixtures and GFCI outlets.
• One roof replacement and tune ups on remaining roofs.
• Refinished kitchen sink and bathroom tub/shower; newer wall heaters.
Development Potential
• Zoning: R 3000 (maximum density 14 units/acre).
• Theoretical yield: On 0.67 acres, the base maximum is 9 dwelling units; additional units may be achievable via State Density Bonus or ADUs.
• Options for buyers: Hold and stabilize for cash flow; pursue infill/additional units; or propose a discretionary new construction plan to the City of Imperial Beach. Recent nearby projects provide precedent for redevelopment concepts.
Why This Asset
• Dual strategy: immediate, stable cash flow from well kept detached homes plus clear entitlement and redevelopment upside.
• Turnkey leasing opportunity: one unit ready to lease now; another can be returned to market rate at sale.
• Coastal demand: proximity to beaches and improving neighborhood amenities supports long term appreciation and renter demand.
Showing Instructions
Walk ons permitted on driveways only. DO NOT DISTURB TENANTS.

rewrite:
1240–1270 Holly Avenue represents a rare opportunity to acquire a well maintained, five unit multifamily asset with meaningful value add and redevelopment potential in Imperial Beach, San Diego’s southernmost coastal community. The property is situated west of Interstate 5 and approximately two miles from the Pacific Ocean, placing it within a rapidly evolving coastal submarket characterized by sustained renter demand, ongoing revitalization, and increasing investor interest. Long term family ownership and consistent upkeep underscore the stability and pride of ownership inherent in this offering.
The asset comprises approximately 5,260 rentable square feet across five detached single family style residences, supplemented by a large rear storage structure. The unit mix includes two 2 bedroom/1 bath units of roughly 860 square feet each, two 3 bedroom/1 bath units of approximately 1,008 square feet each, and one 2 bedroom/2 bath unit of approximately 1,524 square feet. All homes are believed to have been constructed circa 1960 and feature both front and rear yards. Four units are equipped with single car garages, while one unit offers a covered carport, providing ample on site parking and enhancing tenant convenience. The generous outdoor areas present opportunities for future enhancements that may support increased rental value.
The property has been selectively upgraded over time, including interior and exterior painting, new flooring, entry improvements, plumbing and drain line upgrades, replacement of water valves and fixtures, electrical fixture updates with GFCI outlet enhancements, one roof replacement with tune ups on remaining roofs, refinished kitchen and bath surfaces, newer wall heaters, and updated fencing. Despite these improvements, current rents remain below market, and ownership estimates an approximate 15 percent total income upside achievable through unit turnover and additional interior modernization.
Operationally, 1270 Holly is currently vacant and in turn key condition, ready to be leased at prevailing market rates. 1268 Holly is occupied on a month to month basis at $1,000 per month, with the tenant prepared to vacate upon sale, enabling immediate rent repositioning. This dynamic creates an attractive scenario for investors seeking both near term cash flow and longer term value creation while exploring development entitlements for under utilized portions of the lot.
The property is zoned R 3000, permitting detached and attached dwelling units at a maximum density of 14 units per acre. Based on the site’s approximate 0.67 acre footprint, the maximum permitted density is nine dwelling units, with the potential for additional units through the State Density Bonus Law or Accessory Dwelling Units (ADUs), subject to municipal review. Developers may also consider full redevelopment; new primary dwelling units would require discretionary approval, and detailed proposals may be submitted to the City of Imperial Beach Planning Department once project parameters are defined. Numerous recently completed projects in the immediate vicinity provide strong proof of concept for redevelopment in this corridor.
With Imperial Beach experiencing ongoing revitalization, improved infrastructure, and sustained private investment, the property offers both current cash flow and long term appreciation potential. Its proximity to beaches, dining, retail, and major transportation routes further enhances its desirability. This offering is well suited for investors seeking to expand cash flow, build equity, and capitalize on one of coastal San Diego’s most active and evolving multifamily submarkets.
Interested parties may access the property via driveways only. DO NOT DISTURB TENANTS.

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