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316 E 31st St

316 East 31st Street, National City, CA, USA

Active

$1,000,000

National City Multifamily Development Opportunity

Property Type

Multifamily

Units

12

SqFt

9,649

Price

$1,000,000

Price/Unit

$83,333

Year Built

TBD

Market

National City

Price/SF

$104

Cap Rate

4.61%

GRM

14.39

Unit Mix

(8) 2bed/2bath, (2) 1bed/1bath, (2) studio

Property Description

PRICE REDUCED. 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. 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. Estimated total acquisition + construction costs likely yields healthy potential profit on completed construction.

Contact Agent

Maxim Delbecq, MBA

Kenneth Herskind

858.333.7701

858.699.4013

01964069

01872460

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KEN_0377_edit_edited.jpg

Property Details

Property Location

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