Multifamily
2850-52 E St
2850-52 E St, San Diego, CA 92102
Listing Price: $1,840,000
Investment Overview
The McCartin Group of Marcus & Millichap 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.
The subject property is located in Golden Hill, a neighborhood on the east end of Balboa Park, known for its easy access to major employment centers like Downtown, Mission Valley, and South Bay. Recently, the area has seen a rise in new bars and restaurants along the 30th St corridor and Fern St. The neighborhood offers high walkability, trendy local diners, and proximity to Balboa Park, Downtown, and freeways, making it highly desirable. It is considered a haven for artists and musicians and is home to notable establishments like Black Box Recording Studios, The Habitat Recording Studios, Influx Café, Turf Supper Club, Krakatoa, and Pizzeria Luigi.
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.
2850-52 E St
Investment Highlights
- Prime Golden Hill Location and True Value-Add Opportunity with Rental Upside
- Ideal for a First-Time Investor Seeking an Owner-Occupied Investment
- Within walking distance to Balboa Park, Downtown, and South Park. 87/100 Walk Score
- Located in CA Opportunity Zone
- Two Single Car Garages and a Shared Laundry Room with the Ability to Convert Into ADUs
- Development Potential - Complete Communities - Tier 3 - 6.5 FAR
- Within a few Minutes' Drive to Major Employment Centers and Local Beaches
Exclusively Listed By
Financing By
Listing Price: $1,840,000
Investment Highlights
- Prime Golden Hill Location and True Value-Add Opportunity with Rental Upside
- Ideal for a First-Time Investor Seeking an Owner-Occupied Investment
- Within walking distance to Balboa Park, Downtown, and South Park. 87/100 Walk Score
- Located in CA Opportunity Zone
- Two Single Car Garages and a Shared Laundry Room with the Ability to Convert Into ADUs
- Development Potential - Complete Communities - Tier 3 - 6.5 FAR
- Within a few Minutes' Drive to Major Employment Centers and Local Beaches
Investment Overview
The McCartin Group of Marcus & Millichap 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. The subject property is located in Golden Hill, a neighborhood on the east end of Balboa Park, known for its easy access to major employment centers like Downtown, Mission Valley, and South Bay. Recently, the area has seen a rise in new bars and restaurants along the 30th St corridor and Fern St. The neighborhood offers high walkability, trendy local diners, and proximity to Balboa Park, Downtown, and freeways, making it highly desirable. It is considered a haven for artists and musicians and is home to notable establishments like Black Box Recording Studios, The Habitat Recording Studios, Influx Café, Turf Supper Club, Krakatoa, and Pizzeria Luigi. 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.
Exclusively Listed By
Financing By
