Description

We are pleased to exclusively present for sale 2051-2089 San Diego Avenue, an extremely rare 33,710 SF (.77 Acres) piece of prime land across six contiguous parcels in the highly desirable Mission Hills neighborhood of San Diego, CA. Comprised of almost of an entire block within the complete communities tier 3 overlay, the property boasts a max FAR of 6.5. Property can be bought as a new development, keeping and adding to existing structures OR bought as a legacy assemblage in current condition to raise rents to market. Existing buildings are producing substantial income and are well maintained by separate owners/operators. Buildings include a 10-unit (with two non-conforming studios), three similar 6-unit complexes on the interior, and four cottages at the south corner of the block. The Mission Hills neighborhood has long been known for its upscale affluent, and highly desirable charm. The neighborhood overlooks Old Town, Little Italy, Downtown and the San Diego Bay and is also proximate to the popular Hillcrest neighborhood and Balboa Park. The area is known for its architectural diversity and image as one of the oldest and best preserved neighborhoods in the County. Tenants enjoy close proximity to entertainment, nightlife, major roads, boutique shops, coffee shops and fine dining. This property would be ideal for the investor seeking to bring interiors to high-end finishes and raise rents to market in a gentrifying neighborhood that has seen one of the largest pushes in market rent in San Diego over the last year.