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$1,649,900
Est. payment /mo
4 Beds
5 Baths
1 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 1 sqft
Price per Sqft $1,649,900
MLS Listing ID 260013063
Bedrooms 4
Full Baths 5
Lot Size 7,034 Sqft
Property Sub-Type Com-Res Income
Property Type Com-Res Income
Property Description
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, 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.
Location
State CA
County San Diego
Area Metro Central
Zoning INDUSTRIAL
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Others
Senior Community No
Tax ID 538-240-24-00
Acceptable Financing Cash, Other/Remarks
Listing Terms Cash, Other/Remarks
Virtual Tour https://tailorandreach.gofullframe.com/ut/1028_44_Cesar_E_Chavez_Pkwy.html
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Listed by Christian T Meno, DRE#02004894 Compass
Nearby School & Business
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Glen Henderson
Broker Associate | CA BRE #01384181
Broker Associate CA BRE #01384181
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