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Key Details
Sold Price $2,175,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
Square Footage 1,230 sqft
Price per Sqft $1,768
Subdivision North Park
MLS Listing ID 240004834
Sold Date 05/22/24
Bedrooms 5
Full Baths 4
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
Community North Park
Area North Park (92104)
Building/Complex Name North Park
Interior
Cooling Wall/Window
Fireplaces Number 1
Exterior
Exterior Feature Stucco
Fence Full
Roof Type Rolled/Hot Mop
Building
Story 1
Lot Size Range 4000-7499 SF
Level or Stories 1 Story
Others
Acceptable Financing Cash, Conventional, Exchange
Space Rent $5,117
Listing Terms Cash, Conventional, Exchange
Financing Cash
Pets Allowed Yes
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Bought with Matt Davies • Matt Davies, Broker