E 31st Street National City, CA 91950

$6.3M estimated completed construction valuation! FULLY entitled National City multifamily development opportunity. Roughly 8,700 SF of lightly-sloped land, with National City mixed-use zoning (MXC-2), fully entitled for 12 new multifamily units and 12 off-street parking spaces. Current SFR will be ...demo'd and property delivered free/clear of any improvements. Value-engineered upgraded floorplan options for higher rent and additional square footage available. Full project summary and detailed financial estimates can be provided upon request. All applicable plans are ready for transfer and issuance to a new buyer. Up-and-coming National City market in the path of progress. Property is close proximity to the bayfront, parks, shopping, transportation, and National City's infamous Mile of Cars. New multifamily construction in this submarket typically commands high rents, strongly supported by the housing demand from military bases in the area. Estimated total acquisition + construction costs of $4.7M yields healthy potential profit. Continue reading