1254 13th Street #1-2
Ctop 80% of multifamilyImperial Beach, CA 91932
An HOA may ban rentals of 30 days or less (Civ. Code §4741): check the CC&Rs.
Pass at asking: -$3,710/mo full cashflow at 20% down, 7.43% rate.
Works at $451,925 (52% under asking), or at 78% down.
Rent $4,508/mo: 2 units of about 687 sqft, each priced from up to 13 closed leases within 0.5 mi ($3,970–$5,182).
Beds
3
Baths
3
Sqft
1,373
Year Built
1963
Days on Market
258
Property Type
Duplex
HOA/mo
N/A
MLS ID
PTP2601458
This property is in Imperial Beach (91932). Browse neighborhood analytics →
About This Property
Live the coastal lifestyle and generate rental income with this beautifully updated gem in Imperial Beach! This versatile property features two separate units—a spacious 2 bed/2 bath main home and a permitted studio ADU with its own private entrance, currently generating $1,975/month in rental income. The main home offers soaring ceilings, abundant natural light, and an open layout that flows seamlessly to a private patio—perfect for entertaining or unwinding. Thoughtfully upgraded throughout, the property is truly turn-key with renovated kitchens and bathrooms, updated flooring, in-unit laundry, new windows, and modern lighting. The ADU provides excellent flexibility for supplemental income, guests, or extended family living. With off-street parking, convenient freeway access, and just minutes from the beach and local shops, this is an exceptional opportunity to enjoy Southern California living while building long-term real estate value.
House + ADU · 2 units
Valued on income: each unit priced from closed leases nearby, then added up. County records 2 units: a condo parcel with an ADU.
| Unit | Units | Rent each | Subtotal |
|---|---|---|---|
| Average unit~687 sqft · 13 leases within 0.5 mi | 2 | $2,254 | $4,508 |
| Gross rent, all units | $4,508/mo | ||
The listing describes 1 × 2-bed, 1 × studio. Units of different sizes are priced as the average unit: by bed count alone, unit rents ran 17% off in our backtest.
- Gross rent multiplier
- 17.3
- Price per unit
- $467,500
- NOI (a year)
- $20,513
- Cap rate
- 2.19%
Price ÷ a year's gross rent
Median $525,000 across 6 listed 2–4 unit buildings in 91932
Default vacancy, management, upkeep, tax, insurance
Its grade compares it with other multifamily listings only: a building valued on income isn't ranked against houses and condos.
House hack with FHA
Live in the one unit, rent the other 1.
- Down payment
- $32,725
- Your cost to live there
- $7,035/mo
- More than renting it
- $4,781/mo
3.5% · plus closing costs
After $2,254/mo from the other unit
vs $2,254/mo to rent the same unit
How this is figured
- Loan $918,065 ($902,275 + 1.75% upfront mortgage insurance) at 7.18% (Freddie Mac 30-year average, week of Nov 5, 2026), 30 years: $6,219/mo
- FHA mortgage insurance $564/mo · property tax $935/mo · insurance $273/mo
- Vacancy, management and capex on the rented units, upkeep on the building: $1,298/mo
- FHA counts a house with one ADU as a one-unit home: 3.5% down when you live there, up to HUD's 2026 San Diego County one-unit limit ($1,104,000). Lenders count only part of the other units' rent toward qualifying.
Compare other buildings on the small multifamily page.
Mortgage Calculator
Est. Monthly Payment
$6,402
Location
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Zoned Schools
Elementary
Oneonta Elementary · grades K-6 · South Bay Union
Middle
Mar Vista Academy · grades 7-8 · Sweetwater Union High
High
Mar Vista Senior High · grades 9-12 · Sweetwater Union High
The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.
Comparable Properties
4 comps foundThis Property
$4,508
Comp Average
$4,948
766 Delaware St
· Multi-Family
$1.02M
Est. $5,168/mo
1212 13th Street
1,536 sqft · Multi-Family
$1.05M
Est. $4,490/mo
1204 13th Street
1,536 sqft · Multi-Family
$1.05M
Est. $4,490/mo
464 7th Street
1,716 sqft · Multi-Family
$1.32M
Est. $5,642/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
This is a 2-unit building: on the mid-term and short-term tabs, enter the rent, nightly rate and occupancy for all units combined.
Investment Score
2 units of about 687 sqft, each priced from up to 13 closed leases within 0.5 mi · $3,970–$5,182
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$3,710/mo short at 20% down; 78% down or +$4,819/mo rent closes it.
- Break-even price
- $451,925
- Break-even rent
- $9,327/mo
- Cashflow at 35% down
- −$2,736/mo
- Down payment to break even
- 78%
- Rate to break even
- Not reachable
52% under asking
$4,819/mo above the estimate
$729,300 cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* Modelled at 20% down, 7.43% rate, 30yr · vacancy 8% · PM 10% · capex 5% · maintenance 1%/yr.
Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.
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