3983-89 8th Avenue, San Diego, CA 92103
Offer Price:
$1,800,000
Zoning:
CC-3-10
APN:
444-69003-00
444-690-04-00
444-690-05-00
Lot Size:
0.30 AC
Status:
Under Contract
Submarket:
San Diego
Property Type:
Land
Strategy:
Value-Add
We are pleased to present 3983-89 8th Avenue, an exceptional development opportunity located in the heart of San Diego. Situated on a 3,972 SF lot with dimensions of 110’ x 120’, this property combines existing cash flow with incredible development potential. The site currently features an 8-unit apartment complex generating $126,600 of gross income annually, providing investors with a unique opportunity to secure income while pursuing redevelopment.
The property is zoned CC-3-9, a versatile zoning designation allowing for a variety of residential, commercial, and mixed-use development options. Further enhancing its potential, the site is located within the Complete Communities Housing Solutions (CCHS) Tier 2 overlay, granting a Floor Area Ratio (FAR) of up to 8.0x. This high-density designation makes the property ideal for large-scale projects catering to San Diego’s ever-growing housing demand.
Positioned in a Walker’s Paradise (Walk Score: 95), 3983-89 8th Avenue offers unbeatable accessibility to shopping, dining, and entertainment options. The central location ensures a strong tenant pool for the existing units and makes future developments highly desirable. The 0.30-acre parcel is a blank canvas for developers and investors to capitalize on San Diego’s dynamic urban market.
Listed By:
Aaron Bove
Senior Managing Director, Investments
info@thebovegroup.us
(858) 945-7094
Jared Wallach
Associate Director Investment
jared.wallach@marcusmillichap.com
(424) 205-3800