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Listing 2 out of 310
$1,095,000 For Sale

462-464 3rd Ave.
Chula Vista, CA 91910

4 units | Multi Family 2-4 - MLS# 190007963
Property Photo
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Description

LOCATION, LOCATION, LOCATION! Property is in the highly sought after 3rd Ave. Village District of Chula Vista. Walk to restaurants, Park and the Chula Vista Mall. In a "Transit Focus Area". New zoning allows construction of 25 to 30 units and some parking variances. Great development property that allows developer to receive income while going through permitting process. Rents presently under market. The adjoin parcel is available if you'd like a larger development project., The UC-2 zoning allows a maximum FAR of 5.0 and a maximum height limit of 84 feet. Chula Vista's beautiful downtown park is 3 blocks away. Chula Vista's mall with major retailers is 3 blocks away. Walking distance to restaurants, banks, medical buildings and shopping. The Third Avenue Village has grown into a vibrant, exciting entertaining area. Low vacancy rates anywhere near the Village area. This property has a history of steady tenancy. Unit 1 is street front Retail. Unit 2 is 1 bedroom & 1 bath, Unit 3 is 1 bedroom & 1 bath, Unit 4 is 2 bedroom & 1 bath. Perfect for the smaller developer that wants to own a multi family mixed use property that can be developed into 25 to 30 units. There aren't many properties in the Village that have the development potential of this property. In addition to residential, zoning allows Office and Retail use/development. Please do not disturb tenants. The adjoining parcel is available which will allow the development of more than 60 apartment unites. call for details.

Features

  • Property Type: Multi Family 2-4
  • Sub Type: Multi Family 2-4
  • Listing Status: Active
  • County/Area: San Diego County
  • Zip Code: 91910
  • Year Built: 1957
  • Subdivision/Neighborhood: 3rd Avenue Village
  • Units: 4 units
  • Zoning: UC-2
  • # of Buildings: 2
  • # of Units w/Patios: 1
  • # of Units w/Range/Oven: 3
  • # of Units w/Refrigerator: 3
  • Annual Expense Actual: 14641
  • Annual Expense Projected: 23320
  • Cap Rate Actual: 4
  • Cap Rate Projected: 4.6
  • Community: Chula Vista
  • Fencing: Full
  • Gross Rent Multiplier Act: 18.62
  • Gross Rnt Multiplier Proj: 14.71
  • Gross Sched Income Actual: 58800
  • Gross Sched Income Proj.: 74400
  • Heat Equipment: Wall/Gravity
  • Listing Area: CHULA VISTA (91910)
  • Lot Size Area: 4, 000-7, 499 SF
  • Lot SqFt: 5169
  • Net Oper.Income Projected: 51080
  • Parking Non-Garage Unit 2: Uncovered
  • Parking Non-Garage Unit 3: Uncovered
  • Parking Non-Garage Unit 4: Uncovered
  • Roof: Composition
  • Siding: Stucco
  • Tenant Pays: Cable TV, Electricity, Gas/Propane
  • Terms: Exchange
  • Unit # for Unit 1: 462
  • Unit # for Unit 2: 462 1/2
  • Unit # for Unit 3: 464
  • Unit # for Unit 4: 464 1/2
  • Unit 1 # Total Baths: 1
  • Unit 1 # of Full Baths: 1
  • Unit 1 Deposit: 1350
  • Unit 1 Estimated SqFt: 300
  • Unit 1 Projected Rent: 1450
  • Unit 1 Rent Actual: 1350
  • Unit 2 # Bedrooms: 1
  • Unit 2 # Total Baths: 1
  • Unit 2 # of Full Baths: 1
  • Unit 2 Deposit: 1100
  • Unit 2 Estimated SqFt: 500
  • Unit 2 Projected Rent: 1350
  • Unit 2 Rent Actual: 1100
  • Unit 3 # Bedrooms: 1
  • Unit 3 # Total Baths: 1
  • Unit 3 # of Full Baths: 1
  • Unit 3 Deposit: 1100
  • Unit 3 Estimated SqFt: 500
  • Unit 3 Projected Rent: 1350
  • Unit 3 Rent Actual: 1100
  • Unit 4 # Bedrooms: 2
  • Unit 4 # Total Baths: 1
  • Unit 4 # of Full Baths: 1
  • Unit 4 Deposit: 1350
  • Unit 4 Estimated SqFt: 800
  • Unit 4 Exclusive Use Yard: Yes
  • Unit 4 Projected Rent: 1650
  • Unit 4 Rent Actual: 1350
  • Water District: Sweetwater Authority
  • Water Heater Type: Gas
Courtesy of Urban Real Estate Services

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Dario Barba
Dario Barba
Kali Real Estate
San Diego, CA 92108

619-651-0433
Contact Me

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Dario Barba | CA DRE# 01778636 | 619-651-0433 | Contact Me
8880 Rio San Diego Dr, Suite 800 - San Diego CA 92108
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