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$2,400,000
Est. payment /mo
4 Beds
5 Baths
2,133 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 2,133 sqft
Price per Sqft $1,125
MLS Listing ID 260003819
Bedrooms 4
Full Baths 5
Lot Size 5,055 Sqft
Property Sub-Type Com-Res Income
Property Description
*Price just reduced + Seller Financing Now Offered!* This uniquely well-located multifamily property/redevelopment site in La Jolla sits just 3.5 blocks from Marine Street Beach, on a prominent commercial/mixed-use thoroughfare, within walking distance to top-tier schools, shopping, dining, beaches and parks. Currently featuring five (5) +/-1950s-era single-story units, buildings/interiors are mostly in need of a complete overhaul, to be able to capture upper market rents for the area. The true value lies in the land and its redevelopment potential. The Property sits in the Complete Communities Coastal Height Overlay Zone, allowing for up to a 2.5 FAR (or a max building size of +/-12,637 SF) for new CCHS development, if the proper guidelines adhered to, including some lower income unit(s). Base zoning is LJPD-4, allowing for about a 1.3 FAR build out by right, if all market rate units are desired. Current unit mix consists of: Two (2) small studios); Two (2) 1Br/1Ba units; and One (1) 2Br/1Ba unit. There are three (3) surface off-street parking spaces in the front. Rare opportunity to acquire and re-develop a mixed-use trophy asset in one of California's most coveted ultra-premium coastal sub-markets, just steps from world class beaches, dining, and shopping. Great for someone with their own business and the capacity to develop a class 'A' storefront on a prominent La Jolla street, with ideally situated multifamily units for strong added income potential after full build out. Ocean view potential via new construction at max. allowable building height.
Location
State CA
County San Diego
Community Other/Remarks
Area Coastal South
Zoning LJPD 4
Interior
Heating Wall
Cooling Other
Flooring Other/Remarks
Fireplace No
Exterior
Parking Features Spaces
View Y/N No
Roof Type Composition
Total Parking Spaces 3
Building
Dwelling Type Apartment
Story 1
Others
Senior Community No
Tax ID 350-592-07-00
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Virtual Tour https://www.propertypanorama.com/instaview/snd/260003819
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Listed by Joseph A Burrough, DRE#02014504 Palma Commercial
Nearby Locations
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