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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

$ 1,200,000

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316 E 31st ST National City, CA 91950

12,351 SqFt

UPDATED:

09/30/2024 06:27 PM

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 12,351 sqft

Price per Sqft $97

MLS Listing ID PTP2405312

HOA Y/N No

Year Built 2024

Lot Dimensions Survey

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

Area 91950 - National City

Zoning MXC-2 (mixed use) Zoned

Interior

Fireplace No

Exterior

Community Features Park

Building

Lot Description Sloped Down, Gentle Sloping, Near Park, Near Public Transit, Rectangular Lot, Tear Down, Value In Land

Story 3

Others

Tax ID 5622520500

Acceptable Financing Cash, Conventional, Owner May Carry, Owner Survey, Private Financing Available, Trust Deed

Listing Terms Cash, Conventional, Owner May Carry, Owner Survey, Private Financing Available, Trust Deed

Special Listing Condition Standard

Listed by Max Delbecq • Top Gun CRE • maxd@topguncre.com

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

Rick Lee

316 E 31st ST National City, CA 91950

Key Details

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Exterior

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316 E 31st ST