Description

The McCartin Group is pleased to present 2850-52 E St, a 4-unit (3 legal units + 1 potential bootleg unit) community located in the Golden Hill neighborhood of San Diego, California. The property is situated on a 0.16-acre lot and comprised of one (1) two-bedroom/one-bathroom unit and three (3) one-bedroom/one-bathroom units totaling approximately 3,083 rentable square feet. There is also an onsite laundry room with a tenant-owned washer & dryer and a total of 6 off-street parking spaces. Perfect for a first-time investor seeking an owner-occupied investment. The front two-bedroom/one-bathroom unit is move-in ready. There is also a strong value-add component in the fast-growing San Diego area, with convenient access to highways and downtown. A rarely traded asset near jobs and infrastructure in one of the fastest-growing submarkets. Development Potential: 2850-52 E St is under the city of San Diego's Complete Community Housing Solutions Tier 3 FAR 6.5. The new owner can redevelop the property to build a max new building Square Footage of 46,364.5 SQFT. We estimate a new owner could build between 25 and 35 units. The property is also located in CA OPPORTUNITY ZONE. A less aggressive buyer can easily convert both single-car garages into ADU Units. As strictly an investment there are several nearby properties that have sold for a similar $/unit & $/sqft.

Features

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• 2 Stories
• Number of Units: 4
• Price Per Unit: 460000