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$3,400,000
Est. payment /mo
0.49 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Lots/Land
Listing Status Active
Purchase Type For Sale
Subdivision San Diego
MLS Listing ID 260011544
Lot Size 0.488 Acres
Property Sub-Type Lots/Land
Property Description
CBRE is please to present 1674 Newton Avenue, a rare land redevelopment opportunity in the energetic and rapidly gentrifying neighborhood of Barrio Logan in San Diego –which is currently undergoing substantial revitalization and investment momentum. 1674 Newton Avenue has been recently rezoned to RM-3-7 zoning, which on its own allows for by right high-density multifamily development. However, the property is also located within Complete Communities Coastal Zone, which provides for additional density up to a 2.5 FAR in addition to providing a unique regulatory framework for future redevelopment. Developers of the site may explore opportunities for additional density through programs such as California's Density Bonus Law as well as applicable City of San Diego housing incentives. The subject property's location within the Barrio Logan submarket is directly adjacent to one of San Diego's most vibrant restaurants scenes and cultural hubs, in addition to being within walking distance of various public transportation options and having direct freeway access only 3 blocks away. As a redevelopment site, 1674 Newton Avenue offers a compelling balance of zoning flexibility, coastal adjacency and urban connectivity. Its combination of high-density residential entitlements, Coastal Zone positioning and irreplaceable central San Diego location makes this opportunity especially well aligned with current demand for new housing within supply-constrained coastal submarkets.
Location
State CA
County San Diego
Area Metro Central
Zoning RM-3-7
Interior
Fireplace No
Exterior
Fence Full
View Y/N No
Present Use Commercial,Industrial,Residential
Others
Senior Community No
Tax ID 538-030-33-00
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Michael Robert Greiner, DRE#01844828 CBRE
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