Mary Anne & Anastasia
The median home value in San Diego, CA is $910,000.
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Rare, straight-forward development opportunity on two adjacent legal lots! This property has two RM-1-2 zoned 25' x 140' lots. Both are level, and both have street and alley access. A credit for some development fees may be available from the 857 SF house that previously covered both Lots 35 and 36, but has since been demolished. Priced at only $595,000 per lot, the builder will benefit from coordinating the design and construction on each lot. Property is less than a mile bike ride to the East Village area of Downtown, and about 1.5 miles to Petco Park. The newly completed $200 million Logan Memorial Educational Campus which opened in 2023 is less than a block away. The seller is already working with an architect to develop 17-18 units, 3 story building but is too busy with other projects, see attached plans.
We are pleased to present 1548 S. 43rd Street, a fully entitled development project that could potential yield 21-units, located in the neighborhood of Shell Town, San Diego. Located just Southeast of Downtown San Diego, the 0.26-acre property is currently a single-family home situated on approximately 11,427 square feet of lot area. The entitlements are for nine (9) 3 bedroom / 2 bathroom floorplans averaging 1,123 square feet, three (3) 2 bedroom / 1 bathroom floorplans averaging 839 square feet, five (5) SROs that can be configured into studio or one bedroom floorplans averaging 487 square feet, and three additional spaces that could be converted into ADUs averaging 621 square feet. Additionally, one of the three-bedroom units is designated as a low income. Shell Town is rich in cultural heritage, and burgeoning potential, and the asset is ideally located less than seven minutes from the heart of Downtown San Diego, a Tier-1 employment center. A new Community Master Plan was recently adopted that aims to strengthen residents and businesses in the Greater Southeast San Diego neighborhoods. Coupled with an overall well-designed economic expansion of Downtown San Diego, the new community plan will bring major positive implications in the submarket over the next few decades.
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