Description
3.8% Seller RATE Buy-Down Available!! Located in the heart of Lincoln Park, this versatile duplex offers significant development potential just minutes from downtown San Diego and major highways. The property features a 5-bedroom, 3-bathroom unit and a separate 1-bedroom, 1.5-bathroom apartment, providing immediate rental income and tenant flexibility. Zoned for up to 65 buildable units and included in the Complete Communities Tier 3 program, this lot presents a rare opportunity for investors to capitalize on San Diego's growing housing demand. This ±10,471 SF development site in Lincoln Park offers a prime investment opportunity with a current income of $3,850 per month from an existing duplex while being ideally positioned for substantial future growth. Zoned RM-3-7 and included in the Complete Communities Tier 3 program with a 6.5x FAR, the property allows for up to 65 buildable units totaling 68,061 SF. Lot dimensions are 71’ x 150’ with efficient setbacks of 10' (front) and 5' (rear), and a height limit of 40 ft or up to 7 stories. Located within an Opportunity Zone, it offers tax benefits and is designated in a “Sustainable Development Area,†making it attractive for high-density, eco-friendly projects. With easy access to I-805 and SR-94 and a current CAP rate of 2.79%, this site stands out as a compelling investment in a rapidly evolving neighborhood. The property is constructed with a wood frame and stucco, offering seven parking spaces. It is zoned RM-3-7, allowing for residential multi-unit development and inclusion in the Complete Communities Tier 3 program, which supports potential future redevelopment. The site is part of a sustainable development area and is located in an Opportunity Zone, providing potential tax benefits. Additionally, the property has been upgraded over the years to enhance its appeal and functionality.
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6BEDS
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0.24ACRES
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4BATHS
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01/2 BATHS
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2,518SQFT
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$461$/SQFT
School Information
Description
3.8% Seller RATE Buy-Down Available!! Located in the heart of Lincoln Park, this versatile duplex offers significant development potential just minutes from downtown San Diego and major highways. The property features a 5-bedroom, 3-bathroom unit and a separate 1-bedroom, 1.5-bathroom apartment, providing immediate rental income and tenant flexibility. Zoned for up to 65 buildable units and included in the Complete Communities Tier 3 program, this lot presents a rare opportunity for investors to capitalize on San Diego's growing housing demand. This ±10,471 SF development site in Lincoln Park offers a prime investment opportunity with a current income of $3,850 per month from an existing duplex while being ideally positioned for substantial future growth. Zoned RM-3-7 and included in the Complete Communities Tier 3 program with a 6.5x FAR, the property allows for up to 65 buildable units totaling 68,061 SF. Lot dimensions are 71’ x 150’ with efficient setbacks of 10' (front) and 5' (rear), and a height limit of 40 ft or up to 7 stories. Located within an Opportunity Zone, it offers tax benefits and is designated in a “Sustainable Development Area,†making it attractive for high-density, eco-friendly projects. With easy access to I-805 and SR-94 and a current CAP rate of 2.79%, this site stands out as a compelling investment in a rapidly evolving neighborhood. The property is constructed with a wood frame and stucco, offering seven parking spaces. It is zoned RM-3-7, allowing for residential multi-unit development and inclusion in the Complete Communities Tier 3 program, which supports potential future redevelopment. The site is part of a sustainable development area and is located in an Opportunity Zone, providing potential tax benefits. Additionally, the property has been upgraded over the years to enhance its appeal and functionality.
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