316 E 31st ST Active Save Request In-Person Tour Request Virtual Tour
National City,CA 91950
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 12,351 sqft
Price per Sqft $97
MLS Listing ID PTP2405312
Year Built 2024
Property Description
National City multifamily/mixed-use development opportunity. Roughly 8,700 SF of lightly-sloped land. Mixed-use zoning (MXC-2), zoned for up to 17 multifamily units. Previously fully entitled for 12 new multifamily units and 12 off-street parking spaces; those plans are on hold at City. Geotechnical, other applicable reports, and prior-approved 12-unit design plans available. Value-engineered upgraded floorplan options for higher rent and additional square footage available. Full project summary and detailed financial estimates provided upon request. All applicable plans are ready for transfer to buyer, or buyer can create its own. Seller financing available - inquire for details. Up-and-coming National City market in the path of progress. Close proximity to bayfront, parks, shopping, transportation, and 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. $6.3M estimated valuation for 12-unit new construction. Estimated total acquisition + construction costs of $4.7M yields healthy potential profit.
Location
State CA
County San Diego
Area 91950 - National City
Zoning MXC-2 (mixed use) Zoned
Exterior
Community Features Park
Building
Lot Description Sloped Down,Gentle Sloping,Near Park,Near Public Transit,Rectangular Lot,Tear Down,Value In Land
Story 3
Others
Acceptable Financing Cash,Conventional,Owner May Carry,Owner Survey,Private Financing Available,Trust Deed
Listing Terms Cash,Conventional,Owner May Carry,Owner Survey,Private Financing Available,Trust Deed
Special Listing Condition Standard