4021 Swift Avenue, North Park, CA 92104

$2,300,000
3
BD
1
BA
1,533
SqFt
Sold Price
$2,300,000
List Price
$1,202,760
Closing Date
Nov 06, 2023
Status
SOLD
MLS#
230000738
Bedrooms
3
Bathrooms
1
Living Sq. Ft
1,533
Lot Size(Range)
4,000-7,499 SF
Lot Size(apprx.)
7,289
Ownership
Fee Simple
Property Type
Single Family Residential
Year Built
1923

Property Description

The Swift Avenue properties present a fantastic opportunity to purchase two well located assets with existing cashflows and significant development potential. The lots reside in a Qualified Opportunity Zone, Transit Priority Area and fall within the Complete Communities Plan with an attractive 6.5 FAR. The sites are composed of two parcels totaling 13,011 SF of land with a 1,264 SF 2BR/2BA house on a 5,722 SF lot, and a contiguous 1,533 SF 3BR/1BA house with detached single car garage on a 7,289 SF lot. Multiple opportunities are available to develop the property. A recent yield study shows options from 37 to 56 apartment units with variations on mixed use amenities and parking. The adjacent lot is currently for sale and if purchased simultaneously could potentially yield up to 132 units, along a corner lot that fronts University Avenue. Any future project on these sites would be extremely well located in central San Diego with immediate access to both the 805 and 15 freeways, walking distance to the nearby elementary school and several retail establishments along University Avenue. Mid-City San Diego is gentrifying rapidly under the new Complete Communities plan zoning. This is an excellent opportunity for an investor/developer to get in on the ground floor as the area flourishes well into the future.

Additional Information

Stories
1 Story
Roof
Composition
Equipment Available
N/K
Additional Rooms
N/K
Cooling
N/K
Heat Equipment
N/K
Heat Source
Other/Remarks
Parking Garage Spaces
1

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Listing Agent: Sean Bascom (619-916-9179) from Listing Office: South Coast Commercial, Inc..

Selling Office: South Coast Commercial, Inc..

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