462-464 3rd Ave.

    Chula Vista, CA 91910
    • $1,095,000
    • STATUS: ACTIVE
    • ON SITE: 70 days
    • ID#: 190007963
    UPDATED: 40 min ago
    $1,095,000
    • 4
      BEDS
    • 0.12
      ACRES
    • 4
      BATHS
    • 0
      1/2 BATHS
    • 2,100
      SQFT
    • $521
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1957
    County:

    School Ratings & Info

    Description

    LOCATION, LOCATION, LOCATION! Property is in the highly sought after 3rd Ave. Village District of Chula Vista. Walk to restaurants, Park and the Chula Vista Mall. In a "Transit Focus Area". New zoning allows construction of 25 to 30 units and some parking variances. Great development property that allows developer to receive income while going through permitting process. Rents presently under market. The adjoin parcel is available if you'd like a larger development project. The UC-2 zoning allows a maximum FAR of 5.0 and a maximum height limit of 84 feet. Chula Vista's beautiful downtown park is 3 blocks away. Chula Vista's mall with major retailers is 3 blocks away. Walking distance to restaurants, banks, medical buildings and shopping. The Third Avenue Village has grown into a vibrant, exciting entertaining area. Low vacancy rates anywhere near the Village area. This property has a history of steady tenancy. Unit 1 is street front Retail. Unit 2 is 1 bedroom & 1 bath, Unit 3 is 1 bedroom & 1 bath, Unit 4 is 2 bedroom & 1 bath. Perfect for the smaller developer that wants to own a multi family mixed use property that can be developed into 25 to 30 units. There aren't many properties in the Village that have the development potential of this property. In addition to residential, zoning allows Office and Retail use/development. Please do not disturb tenants. The adjoining parcel is available which will allow the development of more than 60 apartment unites. call for details.

    Monthly Payment Calculator

    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS, Inc. Licensed in the state of California.
    www.canerealestate.com/homes/91715887

    462-464 3rd Ave. Chula Vista, CA 91910

    • Price: $1,095,000
    • Status: ACTIVE
    • Updated: 40 min ago
    • ID#: 190007963
    4
    Beds
    4
    Baths
    0
    ½ Baths
    0.12
    Acres
    2,100
    SQFT
    $521
    $/SQFT
    1957
    Built
    Neighborhood:
    3rd Avenue Village
    County:
    San Diego
    Area:
    Chula Vista (91910)
    Property Description
    LOCATION, LOCATION, LOCATION! Property is in the highly sought after 3rd Ave. Village District of Chula Vista. Walk to restaurants, Park and the Chula Vista Mall. In a "Transit Focus Area". New zoning allows construction of 25 to 30 units and some parking variances. Great development property that allows developer to receive income while going through permitting process. Rents presently under market. The adjoin parcel is available if you'd like a larger development project. The UC-2 zoning allows a maximum FAR of 5.0 and a maximum height limit of 84 feet. Chula Vista's beautiful downtown park is 3 blocks away. Chula Vista's mall with major retailers is 3 blocks away. Walking distance to restaurants, banks, medical buildings and shopping. The Third Avenue Village has grown into a vibrant, exciting entertaining area. Low vacancy rates anywhere near the Village area. This property has a history of steady tenancy. Unit 1 is street front Retail. Unit 2 is 1 bedroom & 1 bath, Unit 3 is 1 bedroom & 1 bath, Unit 4 is 2 bedroom & 1 bath. Perfect for the smaller developer that wants to own a multi family mixed use property that can be developed into 25 to 30 units. There aren't many properties in the Village that have the development potential of this property. In addition to residential, zoning allows Office and Retail use/development. Please do not disturb tenants. The adjoining parcel is available which will allow the development of more than 60 apartment unites. call for details.
    Exterior Features

    Exterior Stucco Fencing Full Parking Non Garage Desc Unit2 Uncovered Parking Non Garage Desc Unit3 Uncovered Parking Non Garage Desc Unit4 Uncovered Pool N/K Roof Composition Unit1 Exclusive Use Yard No Unit2 Exclusive Use Yard No Unit3 Exclusive Use Yard No Unit4 Exclusive Use Yard Yes Units With Garages 0 Units With Patios 1

    Interior Features

    Cooling N/K Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Half Baths Unit4 0 Heat Equipment Wall/Gravity Stories 1 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1 Unit1 Laundry Hook Ups No Unit2 Laundry Hook Ups No Unit3 Laundry Hook Ups No Unit4 Laundry Hook Ups No Units With Cooling 0 Units With Dishwashers 0 Units With Dryers 0 Units With Fireplaces 0 Units With Range Oven 3 Units With Refrigerators 3 Units With Washers 0 Water Heater Type Gas

    Property Features

    Actual Cap Rate 4 Age Restrictions N/K Annual Expense Actual 14641 Annual Expense Projected 23320 Association ID San Diego Association Of Realtors (Sdar) Buildings 2 Cfd Mello Roos Fee 0 Community Chula Vista Complex Park No Cross Streets Roosevelt Street Gross Rent Multiplier Actual 18.62 Gross Rent Multiplier Project 14.71 Gross Scheduled Income Actual 58800 Gross Scheduled Income Project 74400 Jurisdiction Incorporated Mandatory Remarks None Known Market Area South Bay Monthly Total Fees 0 Net Operating Income Projected 51080 Other Fees 0 Other Income Actual 0 Projected Cap Rate 4.6 Sales Restrictions N/K Security N/K Short Sale No Tenant Pays Cable TvElectricityGas/Propane Terms Exchange Unit Number For Unit1 462 Unit Number For Unit2 462 1/2 Unit Number For Unit3 464 Unit Number4 464 1/2 Unit1 Deposit 1350 Unit1 Occupied Tenant Unit1 Projected Rent 1450 Unit1 Rent Actual 1350 Unit2 Deposit 1100 Unit2 Occupied Tenant Unit2 Projected Rent 1350 Unit2 Rent Actual 1100 Unit3 Deposit 1100 Unit3 Occupied Tenant Unit3 Projected Rent 1350 Unit3 Rent Actual 1100 Unit4 Deposit 1350 Unit4 Occupied Tenant Unit4 Projected Rent 1650 Unit4 Rent Actual 1350 Water District Sweetwater Authority Zoning Uc-2

    Listing provided courtesy of Urban Real Estate Services. Listing information © 2019 San Diego MLS, Inc.
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS, Inc. Licensed in the state of California.
     
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