Asking Price: $1,395,000

Entitled National City multifamily development and JV opportunity. Roughly 8,700 SF of lightly-sloped land, with National City mixed-use zoning (MXC-2), fully entitled for 12 new multifamily units and 12 off-street parking spaces. Existing improvements include a vacant, roughly 900 SF SFR, which is ready for tear-down. All applicable plans are ready for transfer and issuance to a new buyer. Property is close proximity to the bayfront, parks, shopping, transportation, and National City's infamous Mile of Cars. New multifamily construction in this submarket typically commands high rents, strongly supported by the housing demand from military bases in the area. Current ownership also has architectural concept plans for increasing the projects square footage and upgrading the unit mix to larger units if a developer should want to increase projects size. Current ownership is also interested in a JV partnership to facilitate developing the property with like-minded individuals. We are happy to make an introduction and facilitate the conversation on this front, should a party be interested in a JV situation.