$2,175,000
$2,199,000
1.1%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 05/22/2024
Key Details
Sold Price $2,175,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision North Park
MLS Listing ID 240004834SD
Sold Date 05/22/24
HOA Y/N No
Year Built 1937
Property Description
A developers dream! Multiple value add opportunities and strong existing income ($10,129 monthly gross income)! This site presents an increasingly rare urban infill opportunity to purchase a 7,000 SF lot, with (3) income generating residential units in the heart of San Diego's hippest neighborhood, North Park. The base zoning on this lot is RM-3-9 allowing for residential development with a 60 foot height limit, 2.7 FAR, and a density of 1 per 600 Sf. To increase density further, the micro unit density bonus can be used to double the existing density from 12 to 24, or the Complete Communities program can be used to build 48 units. Alternatively, the current structures include (6) garages that can be converted to (3) ADUs with an additional space in the middle of the parcel for new construction units.
Location
State CA
County San Diego
Area 92104 - North Park
Building/Complex Name North Park
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
View Y/N No
Roof Type Rolled/Hot Mop
Building
Story 1
Entry Level One
Level or Stories One
Others
Senior Community No
Tax ID 4453522100
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash
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Bought with Matt Davies • Matt Davies, Broker