PRIME MIXED-USE REDEVELOPMENT PROPERTY 2 biens | À vendre | 1 454 774 € | Chula Vista, CA

PRIME MIXED-USE REDEVELOPMENT PROPERTY!! Multiple redevelopment scenarios may be possible from 49 AFFORDABLE UNITS + 8 ADU's; OR 10 Lots/INDIVIDUAL TOWNHOMES; OR 10 Units + 8 ADU's; or build 2 TOWNHOMES OR 6 ADDITIONAL UNITS to replace commercial Mechanics Shop. Keep the four residential units in place while entitling and building out back two buildings for income. Or Mechanic Owner/User with 4 Residential Income Units on Front 2-Story building. This property has a variety of options and potential for a future investor or developer from small projects to large affordable units. Bring your developers large or small as SB684 paves the way. All tenants on M-M with lower than market rents for value add. 10 % increases will bring this to approx. TO A 5.22% CAP. Both buildings insured separately connected by emergency exit exterior 2nd- floor wooden staircase attached to both buildings. Gated property, on corner of Church Ave. and G St- WITH LEGAL ADDRESSES OF 402 CHURCH FOR UNITS #2(2B/1B $1870/m) , #3(2B/1B $1980/m) & #4(2B/1B $2200/m) + each pay utilities, except water; Unit #282 G ST. (2B/2B $2300/m + utilities, except water) AND MECHANICS SHOP #286 G ST. ($2500/m + all utilities except water)one block off 3RD AVENUE PROMENADE- FAMOUS Walking Retail, Restaurant & Commercial District with Mass Transit. MECHANICS SHOP SEPARATELY METERED; TENANT PAYS WATER & G&E. ALL FOUR RESIDENTIAL UNITS SEPARATELY METERED FOR SDGE. LANDLORD PAYS WATER ON 4 RESIDENTIAL UNITS. 2B/2B AT 282 G STREET HAS 2 POINT INGRESS/EGRESS AS WERE LEGALLY CONVERTED RESIDENTIAL UNITS ONCE OFFICES.
**** Shown Only with Accepted Offer
***Financials Available with Signed NDA for early review/determination.*** Contact LA- Lesha Montoya; 619-992-5863
DRE#02007808, Pacific Coast Commercial, Assoc. Director Sales & Leasing; 10721 Treena Street, Suite 200, San Diego, CA 92131 Lesha@PacificCoastCommercial.com
**Buyers to do their own due diligence including info from all 3rd-Party Reports, redevelopment opportunities and uses.**
Over $26K in Roofing and Plumbing capital improvement projects done in 2025 greatly reduced profits, but reduced deferred maintenance in these areas. Buyers can increase profits with RUBS on residential units. Mechanics shop separately metered G&E and pays utilities except water. Over $500,000 in Renovations since 2001.
Well Maintained Mixed-Use property- SITTING IN THE FAMOUS 3RD AVENUE PROMENADE CORRIDOR, just a block off. Mechanics shop abuts alleyway & 7/11 convenience store sitting on 3rd Ave.
SELLER IS LOOKING TO RETIRE, MAY OR MAY NOT DO A 1031.
TROPHY PROPERTY- 1ST TIME ON THE MARKET IN 25 YEARS! This property offers a ton of VALUE ADD with lower than market rents and/or redevelopment possibilities. Owner/User opportunity for Mechanics shop and possible SBA. All tenants are on M-M. The 3rd Avenue Promenade is a block off from property offering mass transit, restaurants, commercial district and retail.
Seller pride of ownership shows in maintenance for property. Recent large capital improvements include roofing, plumbing sewer and jetting
Residential Units have quartz counter tops, vinyl flooring, vinyl windows with blinds, security screen doors, ceiling fans in well sized bedrooms, built-ins and all water heaters have been replaced in last 3-5 years. Property is well lit and has 8+/- exterior cameras and a gated courtyard.
Garage has bathroom, 2 parking spaces, in ground lift, two roll-up doors, small office, upper storage, flat roof and alley access. Garage separately metered. Mechanics shop pays own utilities except water.
Investment highlights
2 Buildings Separately Metered; Separately Insured; Attached by Emergency 2nd Floor Wooden Staircase from Residential
M-M Tenants in All 5 Units
1 Residential Building and 1 Mechanics Shop Building
Mechanics Shop Pays Own Utilities- Separately Metered
SB 684. SB 1123, Chp. 19.90 CA State Density Bonus- Supersede Local Zoning- Allows for Bonus Density & Redevelopment with Several Scenarios
SITTING IN THE FAMOUS 3RD AVENUE PROMENADE CORRIDOR, just a block off.