4975 72nd St
4975 72nd Street, San Diego, CA, USA
College East Development Opportunity
(11) 2bed/1.5bath + Basement Laundry
Top Gun CRE, Inc. is pleased to present 4975 72nd St, a rare and desirable development site located in the sought-after “College East” submarket of San Diego at the intersection of Mohawk and 72nd Streets, near the western edge of the City of La Mesa, California. This 0.24-acre property is comprised of one parcel with approximately 11,000 square feet of lot area based on recent survey, zoned RM-1-1 with City of San Diego Transit Priority Area and Transit Area Overlay Zones.
Crafted with foresight, the preliminary plans envision a three-story structure tentatively consisting of 10 to 12 units on this distinctive corner lot. All buyers should do their own due diligence and verify the achievable density. Preliminary City review has tentatively confirmed density in this range should be achievable utilizing an ADU-build configuration, which minimizes development impact and permit fees. This configuration positions the property as an outstanding development prospect, especially considering this corner parcel is flat and free of any existing improvements.
The proposed unit mix consists of (11) 2bed+1.5bath units and (1) Ground Floor Unit used as a laundry/parcel/meter room, but a buyer may re-work the layout to their own liking. With each unit boasting a sizable 860 SF each, this brings the project to a total of 10,320 SF of living space. Included in the plans are 12 off-street parking spaces, as well as a designated area for secure bike parking and exterior landscaping. Projected rents for this development are poised to exceed market norms in College East, mirroring the premium features and benefits awaiting future tenants.
A comprehensive rent survey, financial analysis, and tax proforma utilizing cost-segregation has been completed which offers substantial advantages and cost efficiencies to potential buyers who opt to leverage this information. Also available are summary floorplan sketches, survey, and topographic map. The in-depth project summary capturing these insights is available upon request. Compared to other comparable lots available on the market, this project is being presented at a more competitive price per square foot as well as a lower price per buildable unit.
Seize this opportunity to secure your slice of San Diego's real estate in the heart of one of the city's most vibrant and dynamic neighborhoods, which caters to, families, working professionals and students alike.