Brokerage
Brokerage
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

