4379 Montalvo St San Diego, CA 92107

The subject property has an existing 3 units (1 front house and 2 units on the rear building) and situated between the streets of Valeta & Montalvo. Current rents of all the units are below the market. This is a rare development opportunity to acquire a piece of property that has approved plans in place. The approved plans with conditions received from the City of San Diego allows to build 9 units with underground parking. This is a Probate sale. See Supplement. The approved plans is composed of 6 two-story townhomes and 3 flats on the third level. This property gives the potential owner the opportunity to build the approved plans and sell after completion or hold and run as apartments to enjoy the income and appreciation of a piece of real estate in a rapidly growing area. It also gives the potential owner the option to sell later on the completed 9 units as an apartment or sell each unit individually as condos. Neighborhoods: Point Loma Heights/Ocean Beach Other Fees: 0