Description
The McCartin Group is pleased to present 2850-52 E St, a 4-unit (3 legal units + 1 potential bootleg unit) community located in the Golden Hill neighborhood of San Diego, California. The property is situated on a 0.16-acre lot and comprised of one (1) two-bedroom/one-bathroom unit and three (3) one-bedroom/one-bathroom units totaling approximately 3,083 rentable square feet. There is also an onsite laundry room with a tenant-owned washer & dryer and a total of 6 off-street parking spaces. Perfect for a first-time investor seeking an owner-occupied investment. The front two-bedroom/one-bathroom unit is move-in ready. There is also a strong value-add component in the fast-growing San Diego area, with convenient access to highways and downtown. A rarely traded asset near jobs and infrastructure in one of the fastest-growing submarkets. Development Potential: 2850-52 E St is under the city of San Diego's Complete Community Housing Solutions Tier 3 FAR 6.5. The new owner can redevelop the property to build a max new building Square Footage of 46,364.5 SQFT. We estimate a new owner could build between 25 and 35 units. The property is also located in CA OPPORTUNITY ZONE. A less aggressive buyer can easily convert both single-car garages into ADU Units. As strictly an investment there are several nearby properties that have sold for a similar $/unit & $/sqft.
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School Ratings & Info
Description
The McCartin Group is pleased to present 2850-52 E St, a 4-unit (3 legal units + 1 potential bootleg unit) community located in the Golden Hill neighborhood of San Diego, California. The property is situated on a 0.16-acre lot and comprised of one (1) two-bedroom/one-bathroom unit and three (3) one-bedroom/one-bathroom units totaling approximately 3,083 rentable square feet. There is also an onsite laundry room with a tenant-owned washer & dryer and a total of 6 off-street parking spaces. Perfect for a first-time investor seeking an owner-occupied investment. The front two-bedroom/one-bathroom unit is move-in ready. There is also a strong value-add component in the fast-growing San Diego area, with convenient access to highways and downtown. A rarely traded asset near jobs and infrastructure in one of the fastest-growing submarkets. Development Potential: 2850-52 E St is under the city of San Diego's Complete Community Housing Solutions Tier 3 FAR 6.5. The new owner can redevelop the property to build a max new building Square Footage of 46,364.5 SQFT. We estimate a new owner could build between 25 and 35 units. The property is also located in CA OPPORTUNITY ZONE. A less aggressive buyer can easily convert both single-car garages into ADU Units. As strictly an investment there are several nearby properties that have sold for a similar $/unit & $/sqft.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-21T00:29:13.817. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.