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With parking stalls. Note older units above store. Plenty of area in rear for new units

Upstairs concrete patio area with views

Partial view of rear area where residential units can be built

Sweeping southwest views from second story decking. Part of rear area where new residential construction is zoned for-

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Description

First time offered in 50 years. Two story high visibility building that is fully rented with solid long term tenants including neighborhood market downstairs along with upstairs independent living facility. Wide range of exciting development opportunities due to very friendly multi-use zoning of CN-1-3 which allows for a myriad of commercial/residential ventures including up to FIVE residential units above/behind existing retail store. Located in the Transit Priority Area, Sustainable Development Area, Business Improvement District and Complete Communities Housing Solutions Area which increases the potential FAR from 1 to 6.5! Parcel being 60ft wide and nearly 9,000 sf. in total allows for complete build out. Also located in Opportunity Zone which may have favorable tax consequences. Tenants pay all utility bills and 65% of property tax. Sweeping southwesterly views from upstairs decking and balcony. Total gross monthly income $7,343. First time offered in 50 years. Two story high visibility building that is fully rented with solid long term tenants including neighborhood market downstairs and upstairs independent living facility. Wide range of exciting development opportunities due to friendly multi-use zoning of CN-1-3 allows for a myriad of commercial/residential ventures including up to FIVE residential units above/behind existing storefront. Located in Transit Priority Area, Sustainable Development Area, Business Improvement District and Complete Communities Housing Solutions zones increasing the FAR from 1.0 to 6.5! Also located in Opportunity Zone which may have favorable tax consequences. Tenants pay all utility bills and 65% of property tax. Parcel being 60ft wide and nearly 9,000sf allows for complete build out. Sweeping southwesterly views from upstairs decking and balcony. Total monthly gross income is $7,343.

Details

Features

Market Activity 92113

MLS Number: 250001498SD

Listing Provided By: Jim Jollett – jamesjollett@gmail.com

James Jollett Realty 760-274-6089 – (760) 274-6089 – jamesjollett@gmail.com