A developers dream! Multiple value add opportunities and strong existing income ($9,445 monthly gross income)! This site presents an increasingly rare urban infill opportunity to purchase a 7,018 SF lot, with (3) income generating residential units in the heart of San Diego’s hippest neighborhood, North Park. This property sits within the complete communities area and has a FAR of 6.5. The maximum buildable square feet is 45,617 subject to official approval to allow a complete communities project at this site. Alternatively and due to being fully remodeled, the existing units attract phenomenal renters in the asset’s existing condition. The property is gated from the alley and tenants have the option to close the gate on Illinois for additional privacy. It is turfed with pavers throughout and laundry on site in the back.
Property Details
Price:
$2,199,000
MLS #:
240014482SD
Status:
Active
Baths:
0
Address:
4440 Illinois
Type:
Residential Income
Subdivision:
North Park
Neighborhood:
92116normalheights
City:
San Diego
Listed Date:
Jun 24, 2024
State:
CA
ZIP:
92116
Year Built:
1940
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Schools
Interior
Cooling
Wall/ Window Unit(s)
Heating
Electric
Exterior
Parking Spots
0.00
Pool Features
Private
Roof
Composition
Stories Total
2
Financial
Association Fee
0.00
Tenant Pays
Electricity, Gas
Map
Community
- Address4440 Illinois San Diego CA
- Area92116 – Normal Heights
- SubdivisionNorth Park
- CitySan Diego
- CountySan Diego
- Zip Code92116
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Courtesy of South Coast Commercial, Inc.. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
4440 Illinois
San Diego, CA
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