Once in a lifetime development opportunity in a highly desired opportunity zone in a fast growing neighborhood! You can potentially build 35+ residential units plus ground floor commercial retail space with CN 1-4 zoning allowing up to a 65ft height limit, this is a rare opportunity! On a corner lot,… Read More this property faces 2 streets and has alley access, which is key for a complete community development. Being so close to public transportation, this property may qualify for a complete community and Bonus ADU programs. This property could get even more exciting as SB-79 passes and hopefully being able to add even more units! Located in an opportunity zone, this property could provide substantial tax savings if bought through a QOF. Featuring 5 detached houses all roughly 350sqft each which gross about $10k a month, providing strong cash flow that can help with carrying costs as a potential developer goes through plans and permitting phases. Nearly $100k worth of upgrades has been invested into the property this year with new sewer line, new water lines, new electrical service, and a full remodel on one of the units. This could be a great buy and hold or development opportunity in one of San Diego's trendiest markets with views to Downtown San Diego and Petco Park and minutes to Coronado, Chicano Park, and the Navy Base. Read Less
Listing Snapshot
Days Online
0
Last Updated
Property Type
MixedUse
Lot Size
0.16 Acres
MLS Number
250045298SD
Additional Details
Building
5 buildings
Expenses
Operating: $6,804
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $101,450
Lot
0.1615 acres
Taxes
Parcel Number: 5382402400, Zoning: INDUSTRIAL
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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