Listed by Landmark Multifamily and Development
$1,699,000
3974-78 Kansas St
Details
APN 446-411-28-00
Property Type Retail, Land
Sub Type Commercial
Square Footage 2,731
Units 4
Price per SqFt $243
Lot Size (SqFt) 7,000
Zoning RM-3-9
Retail | 2,731 SqFt
Marketing description
Exceptional investment and redevelopment opportunity in the heart of North Park. The property is currently a 4-unit property situated on a 7,000 SF lot. Zoned RM-3-9 with approximately 600 SF per unit density, 2.7 FAR, and up to 60 feet of height, and located within both TPA and SDA overlay zones, the site offers significant multifamily development potential.
Investors can pursue a near-term value-add strategy by updating units to achieve market-rate rents, with longer-term upside through expansion or higher-density redevelopment. With limited infill land available and ongoing demand for well located multifamily housing, North Park continues to experience strong rent growth and long-term appreciation. This asset offers investors a flexible strategy to capture near-term cash flow while positioning for future redevelopment in a high barrier-to-entry market.
Investment highlights
- Prime Infill Location | 7,000 SF lot in the heart of North Park, one of San Diego’s most supply-constrained and consistently high-demand multifamily submarkets.
- Existing 4-Unit Income | Currently improved with four units, providing in-place cash flow to offset holding costs while pursuing renovation, entitlement, or redevelopment plans.
- RM-3-9 Zoning Upside | Approx. 600 SF per unit density, 2.7 FAR, and up to 60-foot height limit support higher-density multifamily development potential (buyer to verify zoning and development use).
- TPA & SDA Overlay Benefits | Transit Priority Area and Sustainable Development Area designations may allow parking reductions and other development incentives, enhancing overall project feasibility and yield.
- Multiple Value-Add & Redevelopment Paths | Renovate and reposition for rent growth or pursue full redevelopment to maximize highest-and-best use of the site.
- High-Barrier-to-Entry Submarket | Limited infill land availability and sustained rental demand support long-term appreciation and strong exit liquidity.
Listing Contacts
Listed by Landmark Multifamily and Development
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