462-464 3rd Ave., Chula Vista, CA 91910

$1,200,000
4
BD
4
BA
46,280
SqFt
List Price
$1,200,000
Days on Market
7
Status
ACTIVE
MLS#
190007963
Bedrooms
4
Bathrooms
4
Living Sq. Ft
46,280
Lot Size(Range)
4,000-7,499 SF
Lot Size(apprx.)
5,169
Complex/Building Name
No
Property Type
Multifamily
Year Built
1957

Property Description

LOCATION, LOCATION, LOCATION! Property is in the highly sought after 3rd Ave. Village District of Chula Vista. Walk to restaurants, Park and the Chula Vista Mall. In a "Transit Focus Area". New zoning allows construction of 25 to 30 units and some parking variances. Great development property that allows developer to receive income while going through permitting process. Rents presently under market.

Additional Information

Building Name
No
Cooling
N/K
Gross Rent Multiplier Actual
20
Gross Rent Multiplier Project
17
Gross Scheduled Income Actual
58800
Heat Equipment
Wall/Gravity
Living Area
46,280
Lot Size
5,169
Lot Size Range
4,000-7,499 SF
Neighborhood
3rd Avenue Village
Roof
Composition
Stories
1 Story
Style
Res Income 2-4 Units
Tenant Pays
Cable TV, Electricity, Gas/Propane
Year Built
1957

Room Dimensions

Supplement
The UC-2 zoning allows a maximum FAR of 5.0 and a maximum height limit of 84 feet. Chula Vista's beautiful downtown park is 3 blocks away. Chula Vista's mall with major retailers is 3 blocks away. Walking distance to restaurants, banks, medical buildings and shopping. The Third Avenue Village has grown into a vibrant, exciting entertaining area. Low vacancy rates anywhere near the Village area. This property has a history of steady tenancy. Unit 1 is street front Retail. Unit 2 is 1 bedroom & 1 bath, Unit 3 is 1 bedroom & 1 bath, Unit 4 is 2 bedroom & 1 bath. Perfect for the smaller developer that wants to own a multi family mixed use property that can be developed into 25 to 30 units. There aren't many properties in the Village that have the development potential of this property. In addition to residential, zoning allows Office and Retail use/development. Please do not disturb tenants.

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 Urban Real Estate Services

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