5556 University Ave
Location: 5556 University Ave, San Diego, CA 92105
Lot Size: 1.39 Acres
Asking Price: $4,000,000
Rare mixed-use project of residential and commercial spaces is a one-of-a-kind development in the area. Offering a 63-unit apartment building totaling 45,183 SF and 5,047 SF of retail provides simple convenience for residents. This project is comprised of 3 parcels and will get planning approval and in-plane entitlement between 05/2018 - 06/2018.
Seller will assist with the construction drawing approvals and building plan permits between 05/2018 - 07/2018. Several bus lines outside the property provide easy transportation to San Diego State University, the Gaslamp district, Petco Park, local attractions, the beach, Old Town San Diego and Downtown. 1 minute drive to market and shops (Food 4 Less, Panda Express, IHOP, Carl's Jr, Marshalls, Burlington Coat Factory, AutoZone), 10 mins to SDSU, 15 mins to Gaslamp Quarter, close to the freeways (94, 15, 805, 15).
Seller currently has a estimated project cost including hard and soft around $15M from a builder who may offer max construction price guarantee for term of project. Currently working with city for potential easement to increase lot size up to 64,221 SF.
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