Welcome to an extraordinary development opportunity located in the highly desirable Chula Vista. This expansive lot, spanning an impressive 15,185 sq ft (0.37 acres), is zoned in an Opportunity Zone and situated within the Palomar Gateway Specific Plan District. It is a rare find with Design Review Approval from the City of Chula Vista for an 18-unit high-density residential project. The project is considered entitled, and the architect and civil engineer involved are prepared to release the existing drawings to facilitate the next steps toward completion. With architectural plans readily available, this opportunity offers investors a significant advantage in streamlining the development process. Proposed development includes: (6) 2Bedroom/1bathroom Units & (12) 3Bedroom/2bathroom units each over 1,000 sq ft. Currently, the property features a 2-bedroom, 1-bathroom single-family residence, offering the possibility of generating rental income or serving as a transitional space during development.
The land is conditionally approved for subdivision into two lots. it is not landlocked and is flat amongst the fully developed neighborhood. Utilities and City Sewage are available and accessible. The tentative Parcel Map shows the buildable size on Parcel 1,(Gross 9,997 SQFT, NET 7,515 SQFT); and Parcel 2, Gross & Net:11,881 SQFT) Based on the plan, this land can have 2 ADUs and 2 JADU. For detailed information, don't hesitate to get in touch with the listing agent. This property is substantial for an investor to develop a gated community that offers convenience, privacy, and security. Costco and Walmart are 3 minutes away by car. I-5 is nearby. and enjoy the ocean breeze.
Builder Alert : This rare development consists of 104 residential townhouses with a RECORDED TTM AND FINAL Recorded Tract Map and Approved Grading Plan, Improvement Plan, Landscape Plans are all approved. Seller has plan from SDG & E for Gas & Electric. This infill projects is on approx. 11.4+ acres. Superior Mix of 3-4 Br units from approx. 1,200 - 1,800 sq. ft with attached 2 car garages, all on grade. Floor plans and elevations are included and were part of the City's original approvals. Landscape , drainage and SQWMP and Soils and Traffic Report have been all approved. Working drawings and complete plans will be necessary, ( Buyer to confirm and verify approx. 45-90 days AFTER THE CLOSE OF ESCROW ) Grading plan is approved and ready to pull permits. (The applications, bonds, etc. would need to be filed with the City and the Permit pulled in the name of the eventual owner.) * CFD Approved May 7,2024 * The translocation required to relocate remaining sensitive plants to the onsite mitigation area of the northern slope of the site. (This is must be done by the project biologist during the grading. Seller has a proposal from the biologist.) Translocation during grading, create access easement for future maintenance and perform the interim Maintenance and then the City takes over (in perpetuity). Traffic Report has been approved. HOA will be needed assuming developer sells units. OR build as rent to hold, and NO HOA will be necessary. This includes a requirement for 10% MODERATE - “Work Force Housing “ affordable component. Or, an in lieu fee of $1,291,000. For 10 units this would equate to $129,000 per unit. Consider the in lieu fee since the market value of the homes may exceed the $129,000 of the in lieu fee
Courtesy: Ahuage Realty Group, Inc
Located adjacent to the Chula Vista Elk Lodge, this expansive 1.32-acre parcel of vacant land has been privately owned for over two decades. With an R1-P4 zoning designation (Residential SingleFam Precise Plan 4), the property offers a myriad of possibilities. Boasting a generous 57,456.11 square feet, it presents a prime opportunity for development, with potential approval from the City of Chula Vista for up to four residential units or conversion to commercial zoning. Situated prominently on the right-hand side upon entering Old Telegraph Canyon Road, this unique property is ripe for investment. The owner is open to various options, including partial seller financing, partnership arrangements, and considering all offers and innovative proposals. For further details, including the title report or inquiries, please don't hesitate to contact the listing agent.
Courtesy: Real Broker
Courtesy: The Agency
Courtesy: USAFC Realty
Chula Vista is located in California. Chula Vista, California has a population of 274,818. Chula Vista is more family-centric than the surrounding county with 38.06% of the households containing married families with children. The county average for households married with children is 33.76%.
The median household income in Chula Vista, California is $92,913. The median household income for the surrounding county is $88,240 compared to the national median of $69,021. The median age of people living in Chula Vista is 36.3 years.
The average high temperature in July is 78 degrees, with an average low temperature in January of 46.6 degrees. The average rainfall is approximately 10.9 inches per year, with 0 inches of snow per year.
