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Listed by Maxwell Brown • Commercial Asset Advisors
$6,345,000
Est. payment /mo
0.53 Acres Lot
Pending
930 B AVE National City, CA 91950
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Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CRPTP2504689
Year Built 1971
Lot Size 0.530 Acres
Source California Regional MLS
Property Description
930 B Ave National City, "The French Quarters" presents the opportunity to acquire a rarely traded 27 unit garden style asset located in National City's most desirable corridor. The property is located one parcel away from the Historical Landmarks of Brick Row & Heritage Square and within a 3 minute walk of all the activity Kimball Park, E 8th St, and National City Blvd have to offer. The asset possesses both attractive immediate value-add potential on the existing 27 units and significant development potential. The parcel consists of 23,086 SF within the Downtown Specific Plan allowing for 3:1 & 4:1 FAR ratios of multifamily development. 930 B Ave consists of 25 registered units and 2 unregistered units. The unit mix contains (10) 1 Bed / 1 Bath units, (10) 2 Bed / 1 Bath units, (5) 2 Bed / 2 Bath units, and the (2) unregistered studio units converted out of existing non-living square footage. The property possesses an oversized unit average of 765 SF with a huge 5,549 SF of additional existing non-living square footage comprised of 23 garages, 4 storage rooms, the 2 unregistered studio units, and an on-site laundry facility. An investor can pursue a lower intensity value-add play or an all-out full rebuild including major infrastructure systems at a forecasted 8.13% proforma
Location
State CA
County San Diego
Area 91950 - National City
Interior
Laundry Laundry Area
Exterior
Garage Spaces 25.0
Pool None
Others
Tax ID 5564721400
Special Listing Condition Not Applicable
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