Linda Vista 92111
Potential for 3-story building comprising (9) 2 bed, 2 bath 750sf units.
Asking Price $1,000,000
ARV: $5,500,000 (9 units)
ARV: $3,000,000 (4 units)
COE: 1/24/24
Please call/text for showing instructions
Feasibility Report
Property Details:
● Lot size: ≈ 11,354 SF
● ZONING: RM-1-1
● SDA: Yes
● TPA: Yes
● F.A.R: 1.0
Current Structure:
● 2 bed/1 bath, 750sf, single-family residence
Zoning Analysis (RM-1-1):
● RM-1-1 zoning typically allows for multi-family residential development, potentially including ADUs.
● This zoning allows one dwelling unit for every 3,000 square feet of lot area. For an 11,300 square foot lot, up to 4 units are permitted by right (excluding ADUs), subject to other regulations.
● The property is within a TPA and SDA, allowing for 1 bonus market rate ADU for each affordable ADU added.
Special Considerations:
● The lot extends to a steep hillside with potential environmentally sensitive vegetation.
● The city has directed us to 143.0110(c)(2) for an exemption that would allow the expansion of usable area.
Model Match Comp:
● For a minimum development of 3 additional units:
6737 Thomson Ct. San Diego, CA 92111
Sold for $2,325,000 Nov 2022
Development Potential:
● The property has the potential for 11,000+ sf to be utilized for a 3-story building comprising (9) 2 bed, 2 bath 750sf units.
Additional Comp if you just remodel the front house and get plans for a 4 unit apartment in the back:
2810 Nye St. San Diego, CA 92111
Just sold in Dec for $1,400,000
Only 5,400 sqft lot
Fixed up 2/2 in the front with approved plans for a 4 unit in the back.
CONTACT: ALEX BRADLEY
**Note: Contract is in place direct to seller. Escrow has been opened. Do not attempt to contact Seller directly. House is being sold in as-is condition. Buyer to do their own due diligence. EMD is due within 24 hrs of assignment.
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