207 Elkwood Avenue #1
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207 Elkwood Avenue #1

Ctop 80%

Imperial Beach, CA 91932

$678,500
STR: check · Imperial Beach: confirm the zone · TOT 14%

An HOA may ban rentals of 30 days or less (Civ. Code §4741): check the CC&Rs.

Pass at asking: -$3,083/mo full cashflow at 20% down, 7.43% rate.

Works at $277,045 (59% under asking), or at 86% down.

Rent $3,426/mo from 8 leases of 2–4 bed condos & townhomes within 0.5 mi ($2,949–$3,524).

Beds

3

Baths

2

Sqft

1,160

Year Built

1991

Days on Market

59

Property Type

Condo

HOA/mo

$510

MLS ID

PTP2606913

This property is in Imperial Beach (91932). Browse neighborhood analytics →

Virtual Tour

About This Property

VA-APPROVED CONDO JUST ONE BLOCK FROM THE BEACH! Welcome to coastal living in the heart of Imperial Beach. This desirable SINGLE-LEVEL, 3-BEDROOM, 2-BATH CORNER UNIT offers the perfect combination of LOCATION, LIFESTYLE, and INVESTMENT POTENTIAL. Step inside to a bright, OPEN FLOOR PLAN featuring WOOD-PLANK TILE FLOORING, RECESSED LIGHTING, and an inviting coastal feel throughout. The UPDATED KITCHEN features STAINLESS STEEL APPLIANCES and opens seamlessly to the dining and living areas, creating a comfortable space for everyday living and entertaining. Enjoy THREE SPACIOUS BEDROOMS, TWO UPDATED FULL BATHROOMS, NEW AIR CONDITIONING, and a COVERED PRIVATE PATIO overlooking the nearby park where you can enjoy OCEAN BREEZES and beautiful SUNSET VIEWS. Additional highlights include TWO ASSIGNED PARKING SPACES, including ONE COVERED, GATED PARKING SPACE, plus the convenience of a VA-APPROVED COMMUNITY. This property also offers an ESTABLISHED RENTAL HISTORY, having generated Airbnb revenue for four consecutive years, providing an exciting opportunity for buyers looking for a PRIMARY RESIDENCE, SECOND HOME, or INVESTMENT PROPERTY, subject to applicable HOA rules, local regulations, and permitting requirements. LOCATION IS EVERYTHING! Enjoy being JUST ONE BLOCK FROM THE PACIFIC OCEAN and close to the IB PIER, BEACHES, WALKING AND BIKING TRAILS, RESTAURANTS, BREWERIES, FARMERS MARKETS, and everything the Imperial Beach lifestyle has to offer. BEACH LOCATION, SINGLE-LEVEL LIVING, CORNER UNIT, VA APPROVED, TWO PARKING SPACES, AND PROVEN RENTAL HISTORY — this is a coastal opportunity you don't want to miss!

Mortgage Calculator

Est. Monthly Payment

$5,156

Principal & Interest$3,769
Property Tax$679
Insurance$198
HOA$510
%($135,700)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Imperial Beach Charter · grades K-8 · 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.

Investment Score

34C
Est. Monthly Rent
$3,426

8 leases of 2–4 bed condos & townhomes within 0.5 mi · $2,949–$3,524

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$1,730
Full Cashflow

Incl. vacancy, PM, maint, capex

-$3,083

What would make this work?

$3,083/mo short at 20% down; 86% down or +$4,004/mo rent closes it.

Break-even price

59% under asking

$277,045
Break-even rent

$4,004/mo above the estimate

$7,430/mo
Cashflow at 35% down
−$2,376/mo
Down payment to break even

$583,510 cash

86%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$3,769
Cap Rate
1.52%
Cash-on-Cash
-27.27%
DSCR

Need ≥ 1.25 for DSCR loan

0.66

NOI (Annual)
$10,289
Price-to-Rent

Lower = better for investors

16.5

* 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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CCashflow−$3,083/mo