799 Ada St, Chula Vista, CA 91911
- $1,599,000
- List Price
- $1,599,000
- Price Change
- ▼ $101,000 1741661909
- Status
- ACTIVE
- MLS#
- 250017143SD
Property Description
Welcome to an extraordinary development opportunity located in the highly desirable Chula Vista. This expansive lot, spanning an impressive 15,185 sq ft (0.37 acres), is zoned in an Opportunity Zone and situated within the Palomar Gateway Specific Plan District. It is a rare find with Design Review Approval from the City of Chula Vista for an 18-unit high-density residential project. The project is considered entitled, and the architect and civil engineer involved are prepared to release the existing drawings to facilitate the next steps toward completion. With architectural plans readily available, this opportunity offers investors a significant advantage in streamlining the development process. Proposed development includes: (6) 2Bedroom/1bathroom Units & (12) 3Bedroom/2bathroom units each over 1,000 sq ft. Currently, the property features a 2-bedroom, 1-bathroom single-family residence, offering the possibility of generating rental income or serving as a transitional space during development.
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Listing courtesy of Listing Agent: Jason Lee (jason@naraadvisors.com) from Listing Office: Nara Advisors, Inc..
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.