$2,300,000
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3 Beds
2 Baths
1,264 SqFt
SOLD DATE : 11/06/2023
Key Details
Sold Price $2,300,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 1,264 sqft
Price per Sqft $1,819
Subdivision Normal Heights
MLS Listing ID 230000735SD
Sold Date 11/06/23
Bedrooms 3
Full Baths 2
HOA Y/N No
Year Built 1923
Property Description
The Swift Avenue properties present a fantastic opportunity to purchase two well located assets with existing cashflows and significant development potential. The lots reside in a Qualified Opportunity Zone, Transit Priority Area and fall within the Complete Communities Plan with an attractive 6.5 FAR. The sites are composed of two parcels totaling 13,011 SF of land with a 1,264 SF 2BR/2BA house on a 5,722 SF lot, and a contiguous 1,533 SF 3BR/1BA house with detached single car garage on a 7,289 SF lot. Multiple opportunities are available to develop the property. A recent yield study shows options from 37 to 56 apartment units with variations on mixed use amenities and parking. The adjacent lot is currently for sale and if purchased simultaneously could potentially yield up to 132 units, along a corner lot that fronts University Avenue. Any future project on these sites would be extremely well located in central San Diego with immediate access to both the 805 and 15 freeways, walking distance to the nearby elementary school and several retail establishments along University Avenue. Mid-City San Diego is gentrifying rapidly under the new Complete Communities plan zoning. This is an excellent opportunity for an investor/developer to get in on the ground floor as the area flourishes well into the future.
Location
State CA
County San Diego
Area 92104 - North Park
Interior
Heating None, See Remarks
Cooling None
Fireplace No
Laundry None
Exterior
Parking Features Asphalt, Other
Fence None
Pool None
View Y/N Yes
View None
Roof Type Composition
Total Parking Spaces 2
Private Pool No
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 4473901300
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Financing Cash
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Bought with Sean Bascom • South Coast Commercial, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
25101 The Old Road Suite 240, Ranch, Ca, 91381, United States