316 E 31st, National City, CA 91950

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Glen Henderson

[email protected] +1(619) 889-7646

$1,200,000

Est. payment - /mo

8,700 Sqft Lot

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UPDATED:

09/05/2024 04:54 AM

Key Details

Property Type Vacant Land

Sub Type Lots/Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID PTP2405313

HOA Y/N No

Lot Size 8,700 Sqft

Acres 0.1997

Type of Financing Cash,Seller May Carry

Property Description

National City multifamily/mixed-use development opportunity. Roughly 8,700 SF of lightly-sloped land. Mixed-use zoning (MXC-2), zoned for up to 17 multifamily units. Previously fully entitled for 12 new multifamily units and 12 off-street parking spaces; those plans are on hold at City. Geotechnical, other applicable reports, and prior-approved 12-unit design plans available. Value-engineered upgraded floorplan options for higher rent and additional square footage available. Full project summary and detailed financial estimates provided upon request. All applicable plans are ready for transfer to buyer, or buyer can create its own. Seller financing available - inquire for details. Up-and-coming National City market in the path of progress. Close proximity to bayfront, parks, shopping, transportation, and infamous Mile of Cars. New multifamily construction in this submarket typically commands high rents, strongly supported by the housing demand from military bases in the area. $6.3M estimated valuation for 12-unit new construction. Estimated total acquisition + construction costs of $4.7M yields healthy potential profit.
National City multifamily/mixed-use development opportunity. Roughly 8,700 SF of lightly-sloped land. Mixed-use zoning (MXC-2), zoned for up to 17 multifamily units. Previously fully entitled for 12 new multifamily units and 12 off-street parking spaces; those plans are on hold at City. Geotechnical, other applicable reports, and prior-approved 12-unit design plans available. Value-engineered upgraded floorplan options for higher rent and additional square footage available. Full project summary and detailed financial estimates provided upon request. All applicable plans are ready for transfer to buyer, or buyer can create its own. Seller financing available - inquire for details. Up-and-coming National City market in the path of progress. Close proximity to bayfront, parks, shopping, transportation, and infamous Mile of Cars. New multifamily construction in this submarket typically commands high rents, strongly supported by the housing demand from military bases in the area. $6.3M estimated valuation for 12-unit new construction. Estimated total acquisition + construction costs of $4.7M yields healthy potential profit.

Location

State CA

County San Diego

Area National City (91950)

Building

Lot Description Curbs, Sidewalks

Lot Size Range 7500-10889 SF

Others

Miscellaneous Value in Land

Acceptable Financing Cash, Seller May Carry

Listing Terms Cash, Seller May Carry

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Listed by Max Delbecq • Top Gun CRE

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

316 E 31st National City, CA 91950

Glen Henderson

Glen Henderson

Key Details

Location

Building

Others

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