Pending

2652 58 Figueroa Blvd

San Diego CA, 92109

$1,795,000


Pending

Residential

Built in 1950

Listed by Ken Pecus with eXp Realty of California, Inc 619-675-0123

Wow, this is it! Probate Sale, Incredible Opportunity. A rare combination of lot size, existing building structures, zoning, and an excellent transit close, but quiet, location, which all combine to make this property ideal for almost all multi-unit buyers. Whether you are an apartment or condo developer, a small unit investor, or an owner-occupied buyer looking for added units to help pay the mortgage, don't let this one pass you by. The property is located in the heart of the Mission Bay/Pacific Beach Commercial District, yet off the main streets, so an ideal rental and living spot. Its proximity to transport, including Trolley, and a variety of commercial and recreational activities is 2nd to none. See Supplement for zoning options and uses! For all of the following, BUYER to verify everything and not rely on the information provided. Per public record, it APPEARS the underlying zoning is RM-3-8. This allows a FAR of 2.25. With a lot size just over 8000 sf, this allows construction of 8 units by right with the current codes, averaging over 2000sf each. With such little new construction of "for sale" condo inventory, this could be ideal! Or build a great new apartment community. There is a Complete Communities overlay, but it only affords an extra .25 on the FAR, so the existing zoning with possibly some nominal income restricted unit(s) might be the best layout. There is alley access which makes it easier for future construction. Another great use is to just rehab all of the existing units. They have a great layout with a free-standing house in front and 3 units in the back PLUS two 2-car garages!!! In 92109, these are golden units. Using the City of San Diego Bonus ADU program could improve the investment cash performance even more, with some additional construction! Or finally, this is an ideal owner-occupied property, as even the 1 bedroom units are 600+SF. Excellent opportunity for the novice investor to live on-site and have the extra rental units income to help or completely pay the mortgage. The property does have deferred maintenance and will SELL completely "AS IS" due to the probate nature. Administrator has very limited knowledge of property, so all buyers must do their due diligence and investigations. Property is not subject to overbid, however there could be a requirement for court confirmation of the sale.

240028365SD

MLS ID

December 11, 2024

Listed

December 21, 2024

Updated

Map

2652 58 Figueroa Blvd
San Diego CA, 92109

Interior Features

Total Stories

2


Appliances

Gas Water Heater


Fireplace

No


Cooling

No


Cooling Description

None


Heating

Yes

Exterior/Building Features

Lot Size

0.18 Acres


Roof

Composition

Other Property Details

Area Name

92109 - Pacific Beach


Days on Market

8


Garage

No


Parking Total

0


View

No


County

San Diego


Pool

No


Pool Features

None

Listing History

Date

Event

Price

12/21/2024

Pending

Listing Contact: 619-675-0123 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/21/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 12/21/2024 at 12:48 AM UTC

 

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