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Multifamily

1548 S 43rd St

1548 S 43rd St, San Diego, CA 92113

Listing Price: $1,350,000

Cap Rate
5.00%
Number of Units
20
GRM
1,350,000.00
Price/Unit
$67,500
Price/Gross SF
$118.14
Gross SF
11,427

Investment Overview

Zorbas | Huffman | & Partners of Marcus & Millichap is pleased to present 1548 S. 43rd Street, a fully entitled development project that could potential yield 20-units, located in the neighborhood of Shell Town, San Diego. Located just Southeast of Downtown San Diego, the 0.26-acre property is currently a vacant single-family home situated on approximately 11,427 square feet of lot area.

The entitlements are for nine (9) 3 bedroom / 2 bathroom floorplans averaging 1,123 square feet, three (3) 2 bedroom / 1 bathroom floorplans averaging 839 square feet, five (5) SROs that can be configured into studio or one bedroom floorplans averaging 487 square feet, and three additional spaces that could be converted into ADUs averaging 621 square feet. Additionally, one of the three-bedroom units is designated as a low income.

Shell Town is rich in cultural heritage, and burgeoning potential, and the asset is ideally located less than seven minutes from the heart of Downtown San Diego, a Tier-1 employment center. A new Community Master Plan was recently adopted that aims to strengthen residents and businesses in the Greater Southeast San Diego neighborhoods. Coupled with an overall well-designed economic expansion of Downtown San Diego, the new community plan will bring major positive implications in the submarket over the next few decades. As major economic milestones are being reached nearby demand for the submarket continues to increase, presenting investors with the opportunity to capture market rental momentum. With so many positives, 1548 S. 43rd St provides investors with the rare opportunity develop a fully entitled project poised to offer meaningful returns for generations.

Investment Highlights

  • Unique flat corner lot development site totaling .26-acre (11,427 sqft) entitled for 12 apartment units, 5 SROs, and 3 potential ADUs
  • Desirable unit mix comprised mostly of 2- and 3-bedroom floorplans
  • 11 off street covered parking spaces
  • Excellent location only a 7-minute drive from downtown San Diego (a Tier 1 employment center), and 1 -mile from Naval Base San Diego, with its huge population of over 24,000 military personal
  • Convenient access to Interstates -15, -805 & -5, the 94 freeway, and walking distance to public transit/MTS connecting residents to San Diego's downtown, UC San Diego, Mission Valley, Kearny Mesa, and East County
  • Base zoning of CN-1-3 with Complete Communities Tier 3 (6.5 FAR) Overlay
  • Located within an Opportunity Zone

Exclusively Listed By

Financing By

Multifamily

1548 S 43rd St

Listing Price: $1,350,000

Cap Rate
5.00%
Number of Units
20
GRM
1,350,000.00
Price/Unit
$67,500
Price/Gross SF
$118.14
Gross SF
11,427

Investment Highlights

  • Unique flat corner lot development site totaling .26-acre (11,427 sqft) entitled for 12 apartment units, 5 SROs, and 3 potential ADUs
  • Desirable unit mix comprised mostly of 2- and 3-bedroom floorplans
  • 11 off street covered parking spaces
  • Excellent location only a 7-minute drive from downtown San Diego (a Tier 1 employment center), and 1 -mile from Naval Base San Diego, with its huge population of over 24,000 military personal
  • Convenient access to Interstates -15, -805 & -5, the 94 freeway, and walking distance to public transit/MTS connecting residents to San Diego's downtown, UC San Diego, Mission Valley, Kearny Mesa, and East County
  • Base zoning of CN-1-3 with Complete Communities Tier 3 (6.5 FAR) Overlay
  • Located within an Opportunity Zone

Investment Overview

Zorbas | Huffman | & Partners of Marcus & Millichap is pleased to present 1548 S. 43rd Street, a fully entitled development project that could potential yield 20-units, located in the neighborhood of Shell Town, San Diego. Located just Southeast of Downtown San Diego, the 0.26-acre property is currently a vacant single-family home situated on approximately 11,427 square feet of lot area. The entitlements are for nine (9) 3 bedroom / 2 bathroom floorplans averaging 1,123 square feet, three (3) 2 bedroom / 1 bathroom floorplans averaging 839 square feet, five (5) SROs that can be configured into studio or one bedroom floorplans averaging 487 square feet, and three additional spaces that could be converted into ADUs averaging 621 square feet. Additionally, one of the three-bedroom units is designated as a low income. Shell Town is rich in cultural heritage, and burgeoning potential, and the asset is ideally located less than seven minutes from the heart of Downtown San Diego, a Tier-1 employment center. A new Community Master Plan was recently adopted that aims to strengthen residents and businesses in the Greater Southeast San Diego neighborhoods. Coupled with an overall well-designed economic expansion of Downtown San Diego, the new community plan will bring major positive implications in the submarket over the next few decades. As major economic milestones are being reached nearby demand for the submarket continues to increase, presenting investors with the opportunity to capture market rental momentum. With so many positives, 1548 S. 43rd St provides investors with the rare opportunity develop a fully entitled project poised to offer meaningful returns for generations.

Exclusively Listed By

Financing By

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