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Patricia Beattie

patricia@brivio.com +1(415) 286-8292

$2,400,000

Est. payment - /mo

4 Beds

5 Baths

2,133 SqFt

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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 School & Business

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Patricia Beattie

+1(415) 286-8292

Broker | License ID: 01405369

Broker License ID: 01405369

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7421-25 La Jolla Blvd. La Jolla, CA 92037

Patricia Beattie

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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