It is a pleasure to present for sale for the first time in over three decades, 3510 Bayside Lane, San Diego, CA 92109, an ideally positioned two (2) unit multifamily property, superbly well-located within Mission Beach, a stone’s throw from El Carmel Point and Sail Bay, with beautiful ocean/bay view… Read More exposure via redevelopment of this site to maximize building height/building area through new construction. Presently consisting of one (1) large one/bedroom-one-bathroom house with loft (+/-1,000 SF) and one (1) studio cottage (+/-343 SF), separated by two off-street parking spaces in between them, the short term rental potential here is strong. Estimated to have been built in ±1935, while the existing single story residential structures generate some income, said income is low relative to the overall value of the land and its tremendous development potential, at a site that is under improved compared to several neighboring newer construction properties, which have been built up to three-story and/or thirty foot building heights, with much more rentable building area. Eventual redevelopment seems the highest and best use for this land, whether as a beach home and/or as a modern vacation rental property. The lot is ±2,280 square feet, at the corner of El Carmel Place and Bayside Lane, within walking distance to: the Beach; its miles long boardwalk; the Mission Bay Yacht Club at El Carmel Point; Mission Bay Aquatic Center and Tower Beach Club at Santa Clara Point, along with its Playground + Athletic Fields/Courts (et al.); dining; bars; and Belmont Park. Presently units are estimated to be in average condition, with updates and repairs completed on an as-needed basis over the years. One could accelerate revenue growth via short term rentals upon any turnovers, as they work to obtain designs/plans/permits to ultimately maximize building area and improve income with a modern larger building(s) the land is deserving of and ripe for. Great for an investor or an owner/user as a legacy asset. Read Less
Listing Snapshot
Days Online
3
Last Updated
Year Built
1947
MLS Number
260015976SD
Additional Details
Building
Built in 1947, 2 buildings, 1 storey, Levels: One
Community
Park Name: N/A
Cooling
None
Fence
Partial
Heating
Combination, Wood
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $35,760, Net Operating Income: $35,045
Roof
Composition
Taxes
Parcel Number: 4236160700
Tenant Pays
Electricity, Gas
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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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