Listed by WHITEWATER Commercial Real Estate
$1,695,000
Fully Renovated North Park Home + Permit Ready for 9 Units
Details
APN 453-021-23-00
Property Type Multifamily, Land
Sub Type Apartment Building, Residential
Square Footage 1,114
Net Rentable (SqFt) 1,114
Units 10
Tenancy Vacant
Year Built 1923
Year Renovated 2022
Buildings 2
Lot Size (SqFt) 6,117
Investment Type Redevelopment
Multifamily | 10 Units
Marketing description
3781 Alabama St is a rare value-add development opportunity in the heart of North Park. Presently the property includes a fully renovated 2-bed / 2-bath single-family residence and will be delivered with ready to issue plans & permits for the development of (9) ground up 1-bed / 1-bath apartment units behind the home. Located within walking distance of North Park’s vibrant dining, retail, and entertainment amenities along University Avenue, the property offers residents exceptional walkability and convenience with easy access to Downtown San Diego and Balboa Park. Combined with permit-ready plans and attractive projected rental income, 3781 Alabama St offers investors the opportunity to capitalize on a premier development site in one of San Diego’s strongest rental markets.
Investment highlights
- Rare opportunity to acquire a fully renovated 2-bedroom / 2-bath home with ready to issue plans for a new 9-unit multifamily development
- Project to be delivered permit-ready, allowing for an accelerated path to construction
- Proposed development consists of nine thoughtfully designed 1-bedroom / 1-bath units
- Located in the heart of North Park near top restaurants, cafés, breweries, and entertainment
- Strong projected rental income in one of San Diego’s most supply-constrained urban rental markets
Listing Contacts
Listed by WHITEWATER Commercial Real Estate
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