316 E 31st ST, National City, CA 91950 – PTP2405313

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$1,200,000

Est. payment - /mo

8,698 Sqft Lot

Active

316 E 31st ST National City, CA 91950

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

12/05/2024 05:12 AM

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID PTP2405313

HOA Y/N No

Lot Size 8,698 Sqft

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 Zoned for up to 17

Interior

Fireplace No

Exterior

Community Features Curbs, Fishing, Sidewalks, Urban, Park

View Y/N Yes

View Neighborhood

Building

Lot Description Sloped Down, Gentle Sloping, Near Park, Near Public Transit, Rectangular Lot, Tear Down, Trees, Value In Land

New Construction Yes

Others

Senior Community No

Tax ID 5622520500

Acceptable Financing Cash, Cash to New Loan, Owner May Carry, Private Financing Available, Trust Deed

Listing Terms Cash, Cash to New Loan, Owner May Carry, Private Financing Available, Trust Deed

Special Listing Condition Standard

Listed by Max Delbecq • Top Gun CRE • maxd@topguncre.com