2224 W Jewett St Terrain 0,1 ha À vendre 1 674 622 € San Diego, CA 92111

Located in the heart of San Diego’s Linda Vista neighborhood, 2224-26 W Jewett Street presents a prime redevelopment opportunity with solid income potential and significant future upside. Priced at $1,900,000, this ±10,688 SF lot (APN: 431-343-10-00) is zoned RM-3-7, allowing for multifamily residential development in one of the city’s most desirable high-opportunity areas. With a price of $177.77 per lot square foot, this site offers an exceptional value for investors or developers looking to capitalize on San Diego’s increasing housing demand.
The property currently includes two 1-bedroom, 1-bath units, totaling approximately 1,248 square feet of rentable space. These units are generating a combined monthly income of $3,500, with a pro forma rental potential of $5,000/month—offering holding income while entitlements or redevelopment plans are pursued. Notably, the site has already cleared historical review, minimizing entitlement risk and clearing a key hurdle in the development process.
Situated within the Complete Communities Housing Solutions Tier 4, the parcel benefits from a generous FAR of 4.0x, dramatically increasing the buildable area to over 42,700 SF. It also falls within the Sustainable Development Area (SDA) and Transit Priority Area (TPA) overlays, further enhancing development flexibility and potential density bonuses. The base zoning allows for 1 dwelling unit per 1,000 SF, with up to 10+ units possible by-right, and more with incentives or bonuses. With favorable zoning, strong rental fundamentals, and a location in a High Resource CTCAC/HCD Area, 2224-26 W Jewett Street is an ideal candidate for a multifamily infill project, whether as market-rate apartments or affordable housing.