The property parcel has been successfully UPGRADED. The parcels consisting 534-301-02-00 and 534-301-01-00 have been MERGED by the County into a single NEW PARCEL #534-301-24-00. We received a great deal of interest from smaller investors, but conventional financing had been difficult as 534-301-01-00 (.06 acres) was a vacant lot. Now, 534-301-24-00 (.12 acres) is duplex with 4 garages with .06 acres of it being undeveloped. It's possible for a buyer to move into one of the cottages and rent out the other to help pay for the mortgage. Fannie Mae, owner-occupied financing should be possible for the ENTIRE PROPERTY now. There is a shared driveway easement with the neighbor to the east. The property line is in the middle of the driveway, evenly splitting it ... 5 feet is on our subject property and 5 feet is on the neighbor's property. This duplex is located in a vibrant part of Golden Hill. It is on the path of redevelopment. Pershing Drive turns into 26th street, and therefore 26th Street is a main gateway to Golden Hill and Balboa Park! Each unit has a small patio and off-street parking which is highly desirable in this part of the town. There are two 1-car garages below each cottage for a total of 4 garages. This property in the path of major redevelopment and has the potential for of over 30 units. There are many possibilities. Buyers to verify the number of entitlements with the City of San Diego. The Projected Income based on $1850 with each cottage having 1 garage. The 2 remaining 2 garages could fetch $200/month separately. Property sold AS IS. DESCRIPTION AND OVERVIEW Located on the coveted slopes of Golden Hill, overlooking downtown San Diego and a short walk to historic Balboa Park, 1135 – 1141 26th Street is an opportunity to build within the complete communities overlay and maximize density in with a minimal parking requirements area. A project can take advantage of 1) Complete Communities: Housing Solution Program. The listing is located in a 2) Parking Standards Transit Priority Area, 3) Transit Priority Area, 4) Transit Area Overlay Zone, and 5) Mobility Zone 2 in the RM-2-5 zone within the Greater Golden Hill Community Planning Area. The property is being marketed AS IS as the highest and best use would be a podium development of residential units. The vacant lot was previously zoned commercial which could facilitate a street level enterprise such as a bistro or brewery. Also, it would allow development right up to the property line. The city has not caught up with the merged parcel #, and so it may be possible to use residential zoning (from the two one-bedroom cottages) for obtaining a loan and perhaps a commercial zone designation later when developing the property. Buyer to verify zoning with the city. Golden Hill is a vibrant and diverse neighborhood located in the heart of San Diego, California. It is a historic district with a rich cultural heritage, which is reflected in the area’s architecture and landmarks. The neighborhood is known for its beautiful Victorian and Craftsman-style homes, many of which have been lovingly restored to their original grandeur. The community is also home to a diverse range of businesses, restaurants, and shops, making it a popular destination for both locals and visitors. In addition to its charming architecture and bustling commercial scene, Golden Hill is also known for its beautiful parks and outdoor spaces. One of the most popular is Golden Hill Park, which features a playground, picnic area, and stunning views of downtown San Diego. The neighborhood is also home to several other parks and green spaces, including Balboa Park, which is one of the largest urban parks in the country and is home to numerous museums, gardens, and cultural institutions. Balboa Park is a 1,200-acre urban cultural park located in the heart of San Diego, California. It is home to over 16 museums, several performing arts venues, beautiful gardens, and numero...
