316 East 31st Street Active Save Request In-Person Tour Request Virtual Tour
National City,CA 91950
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 8P-2405313
Lot Size 8,700 Sqft
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.
Location
State CA
County San Diego
Zoning MXC-2 Zoned for up to 17
Exterior
Community Features Curbs,Fishing,Park,Sidewalks,Urban
View Y/N Yes
Building
Lot Description Gentle Sloping,Lot 6500-9999,Near Public Transit,Park Nearby,Rectangular Lot,Sloped Down,Tear Down,Treed Lot,Value In Land