645 Florence St

Imperial Beach CA 91932

859 sq. ft.

7499 sq. ft.

Single-Family

Currently for sale - view listing

Overview

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.

Features

2 bedrooms

1 bathroom

2 carspaces

859 sq. ft. floor area

7499 sq. ft. lot size

Single-Family

Property history for 645 Florence St

2016

Sold

$350,000

23 Jun 2016 by Dana Kane

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