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Shopping Strip

University Two Retail

1225 University Ave, San Diego, CA 92103

Listing Price: $6,500,000

Cap Rate
3.69%
Gross SF
3,306
Rentable SF
3,306
Price/Gross SF
$1,966.12
Lot Size
0.32 acres
Year Built
1951

Investment Overview

The Totah Group of Marcus & Millichap is pleased to present 1225-1237 University Ave, San Diego, CA 92103, a 14,008 SF* Development site in the vibrant neighborhood of Hillcrest, an Urban community of San Diego, California. This presents an investor the opportunity to develop a Multifamily or Mixed-Use project and take advantage of high density (1DU/600 SF) and favorable zoning (CC-3-8) in the strongest performing multifamily submarket in San Diego. The site allows for a Minimum FAR of 1.5 and Mixed-Use Bonus of an additional 2.5 FAR. In addition to the favorable zoning, the property is located in the Tier 2 area of the newly adopted Complete Communities Housing Solutions zoning. The Tier 2 of this zoning allows for an FAR of 8.0, which would allow up to 112,064 SF project to be developed on the site. The property is located along the prominent corridor of University Avenue, the main thoroughfare in Hillcrest. The subject property is also located just blocks away from Balboa Park, Bankers Hill and just a short drive from downtown San Diego. Hillcrest is experiencing a multifamily vacancy of 2.6%, according to CoStar Analytics. Strauss on 5th, a newly constructed apartment development around the corner from this property is achieving between $2,095-$4,695 per month ranging from Studios to 2BR units. Its centralized location, walkability, and easy access to the airport, Hwy 163, I-8, I-5, bus line and trolley make this a highly desirable neighborhood to live in.

Investment Highlights

  • 14,008 Square foot development site located in the urban San Diego neighborhood of Hillcrest
  • High Density Zoning in 1DU/ 600 SF, and Complete Communities Tier 2, FAR -8.0
  • Two Building, Two Parcel, Retail Property with exsisting income

Exclusively Listed By

Shopping Strip

University Two Retail

Listing Price: $6,500,000

Cap Rate
3.69%
Gross SF
3,306
Rentable SF
3,306
Price/Gross SF
$1,966.12
Lot Size
0.32 acres
Year Built
1951

Investment Highlights

  • 14,008 Square foot development site located in the urban San Diego neighborhood of Hillcrest
  • High Density Zoning in 1DU/ 600 SF, and Complete Communities Tier 2, FAR -8.0
  • Two Building, Two Parcel, Retail Property with exsisting income

Investment Overview

The Totah Group of Marcus & Millichap is pleased to present 1225-1237 University Ave, San Diego, CA 92103, a 14,008 SF* Development site in the vibrant neighborhood of Hillcrest, an Urban community of San Diego, California. This presents an investor the opportunity to develop a Multifamily or Mixed-Use project and take advantage of high density (1DU/600 SF) and favorable zoning (CC-3-8) in the strongest performing multifamily submarket in San Diego. The site allows for a Minimum FAR of 1.5 and Mixed-Use Bonus of an additional 2.5 FAR. In addition to the favorable zoning, the property is located in the Tier 2 area of the newly adopted Complete Communities Housing Solutions zoning. The Tier 2 of this zoning allows for an FAR of 8.0, which would allow up to 112,064 SF project to be developed on the site. The property is located along the prominent corridor of University Avenue, the main thoroughfare in Hillcrest. The subject property is also located just blocks away from Balboa Park, Bankers Hill and just a short drive from downtown San Diego. Hillcrest is experiencing a multifamily vacancy of 2.6%, according to CoStar Analytics. Strauss on 5th, a newly constructed apartment development around the corner from this property is achieving between $2,095-$4,695 per month ranging from Studios to 2BR units. Its centralized location, walkability, and easy access to the airport, Hwy 163, I-8, I-5, bus line and trolley make this a highly desirable neighborhood to live in.

Exclusively Listed By

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