Investment Overview

Marcus & Millichap is pleased to present 3958-68 Florida Street located in San Diego, California. The existing building currently consists of six units and rests on an 11,237 square foot lot. With a trophy location in North Park, one of San Diego's most desirable rental markets, this parcel presents a premier development opportunity. The property is located in a Qualified Opportunity Zone (QOZ) with a zoning designation of RM-3-9, which allows a base density of 1 dwelling per 600 square feet (1/600). The property is also located in Tier 3 of the city's "Complete Communities" initiative, which allows for no restrictions on height limits, parking requirements, and boasts a Floor Area Ratio (FAR) of 6.5. The property also enjoys access to both the street and alleyway. Situated less than a block from University Avenue, two blocks from Park Boulevard, and three blocks from El Cajon Boulevard, the property is within proximity to all the best both Hillcrest and North Park have to offer. The property also benefits from easy accessibility to Balboa Park and the 163 freeway. With a multitude of possibilities, 3958-68 Florida Street ultimately offers investors the rare opportunity to acquire an exceptional parcel primed for development in the heart of San Diego.