924 Florida St Imperial Beach, CA 91932
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About this home
Investor’s Dream with R-2 Zoning in Prime Imperial Beach Location! VA Assumable @ 4.125 rate. This beautifully renovated 3-bedroom, 2-bathroom home sits on a spacious lot with alley access, zoned R-2—offering an exceptional opportunity to build an ADU (renderings included) or further develop the property to maximize its full potential. Whether you're an investor or a homeowner seeking growth, this home checks every box! Step inside to discover a modern open layout featuring a gourmet kitchen complete with quartz countertops, stainless steel appliances, sleek cabinetry, a statement waterfall island with premium vinyl flooring and high-end door hardware, recessed lighting, and dual-pane vinyl windows. Both bathrooms have been tastefully updated with contemporary finishes and fixtures. The home also offers central A/C for year-round comfort. Enjoy outdoor living a huge backyard ready for your creation and double-gated alley access—perfect for entertaining, expansion, or adding additional structures. Located just over a mile from the Imperial Beach Pier, and close to military bases, Coronado, beaches, freeways, dining, and shopping. Includes architectural renderings illustrating the addition of a 754 sq ft detached ADU and a 495 sq ft Junior ADU (JADU), for an additional 1,249 sq ft, totaling 2,228 sq ft. A current tenant is in place and flexible to stay or vacate based on preference, making this a turnkey investment or owner-user opportunity. Don't miss your chance to secure a move-in-ready home with long-term upside in one of San Diego’s most exciting coastal communities! This R-2 zoned property offers outstanding investment potential with included architectural renderings illustrating the addition of a 754 sq ft detached ADU and a 495 sq ft Junior ADU (JADU), totaling an additional 1,249 sq ft. With the existing residence, this creates a combined potential living area of approximately 2,228 sq ft across three units. Perfect for multigenerational living or income-generating rental opportunities.
Source: CRMLS #250037590SD
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FAQs
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.