Fantastic opportunity to purchase in heart of walkable Mission Hills district. Current zoning is CC-3-6 which allows for parcel density by right of 1-unit per 1,000sf so possible build-out to five units. Current mix use stands with one detached 2-bed/1.5 bath 1,100sf. Craftsman home with fireplace and yard, and two 2-bed/1-bath 850sf. units at rear of parcel which allows for a myriad of ideas and options for reconstruction. All tenants month to month. Roughly 30% rent upside. Live in home and pick up projected annual gross scheduled rents of $70,000+. Plenty of off-street parking with seven assigned spaces. Projected gross scheduled rent for all three is approximately $115,000+ annually. Property also greatly benefits from Complete Communities Housing Solutions/Transit Area Overlay zone (Tier-2/FAR 8X) which provides for SIGNIFICANT density housing solutions in this desirable location. The parcel offers a myriad of developmental options in one of the most coveted areas in San Diego. Just minutes to beaches, Balboa Park, Old Town district, downtown, Liberty Station and major commuter arteries.
Fantastic opportunity to purchase in heart of walkable Mission Hills commercial, business and development district. Current zoning is CC-3-6 which allows for density by right of 1-unit per 1,000sf of parcel size so able to build out to five units minimum. Current mix stands as one detached 2-bed/1.5 bath 1,100sf. Craftsman home with fireplace, front yard & back patio and two 2-bed/1-bath 850sf units stacked at rear of parcel which allows for a myriad of ideas and options for reconstruction. All tenants month to month. Rent upside approximately 30%. Live in home and pick up approximately projected $70,000+ annual rents. Plenty of off-street parking with seven assigned spots which is a luxury in Mission Hills. Projected gross annual rents for all three units is $115,000+. Property also GREATLY benefits from the Complete Communities Housing Solutions/Transit Area Overlay zone ( Tier-2/8XFAR) which allows for significant density housing solutions in this desirable area. The parcel offers a myriad of developmental options in one of the most coveted areas of San Diego.