3933 Utah, San Diego, CA 92104
3933 Utah, San Diego, CA 92104
3933 Utah, San Diego, CA 92104
3933 Utah, San Diego, CA 92104
3933 Utah, San Diego, CA 92104
3933 Utah, San Diego, CA 92104
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Ruby Raymond

Ruby Raymond

+1(805) 201-6341
$ 2,575,000
Est. payment | /mo

0.26 Acres Lot

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$ 2,575,000
Est. payment | /mo
Save Virtual Tour

0.26 Acres Lot

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

Subdivision North Park

MLS Listing ID 260008135SD

HOA Y/N No

Lot Size 0.257 Acres

Property Description

One of San Diego's rarest development opportunities, a permit-approved, shovel-ready site for an 8-story, 70-unit multifamily building in the heart of North Park. Entitlements are secured, architectural plans by Ehrlich Yanai Rhee Chaney Architects are complete, and four occupied residential units renovated in 2023 with new appliances and updated finishes generate $12,885/month ($154,620/yr) in current income while you prepare for construction. The approved project features 70 units averaging ~615 SF (studios, 1BR, 2BR), ground-floor lobby and leasing space, rooftop clubhouse and deck, and 29 underground parking spaces. Projected market rents are supported by comparable properties averaging $4.57/SF with 90%+ stabilized occupancy. At $2,625,000, just $37,500 per approved unit, this assemblage offers compelling value relative to comparable entitled land sales ranging from $69,000 to $115,000/unit. North Park is fully built out with virtually no remaining infill sites of scale. WalkScore of 97. 450,000+ jobs within 15 minutes. Both parcels (APN #446-411-11-00 + APN #446-411-12-00) must be acquired together. Architectural plans and permits for the 70-unit development are available for separate purchase. Inquire with agent for details and pricing.

Location

State CA

County San Diego

Area 92104 - North Park

Interior

Fireplace No

Exterior

Fence Partial

Utilities Available Natural Gas Available

View Y/N Yes

View Panoramic

Present Use Commercial,Residential,Single Family

Building

Lot Description Level

Others

Senior Community No

Tax ID 44641111 and 12

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://www.propertypanorama.com/instaview/snd/260008135

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Ken Schwartz Century 21 Affiliated #01854235

NEARBY SCHOOL & BUSINESS

REVIEWS

Ximena Ames Nugent

Professional & Paid Attention to My Needs

I am very impressed with the professionalism of this team! They worked very hard with terrific attention to details and respect for my needs. I would highly recommend Ruby and Patrick as they are knowledgeable, and dedicated to their clients.

Jeff M

Purchase

Ruby and the Raymond Team were great. We're in our new home right now writing this. Ruby helped make this happen and if you are looking for a home in the 5 Cities area I suggest you give Ruby a call. Thanks Ruby, SM

RonSteinback

The broker that everyone hopes to hire!

Patrick listed and sold two properties for me this year, and I intend to use him on a third transaction. Patrick is responsive and knows the local area. I am a broker myself, but located in southern California. Patrick is the broker that everyone hopes to hire!

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How Does The Raymond Team Deliver Exceptional Real Estate Service?

Expert Guidance

We educate you on the market and guide you to the best best decision about your move.

Proven Systems

Over 23 years of real estate experience  has helped us perfect our results-driven buying and selling systems.

Results Driven

We listen, we communicate, and we track every step of the process to ensure a seamleass transaction.

Ruby Raymond
Ruby Raymond

Broker Associate | License ID: 01342959

+1(805) 201-6341 | homes@raymondteamre.com

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By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from or on behalf of Ruby Raymond, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.