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$ 1,900,000
Est. payment /mo
Price Dropped by $200K
3141 Imperial AVE San Diego, CA 92113
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID NDP2601746
HOA Y/N No
Year Built 1960
Property Sub-Type Multi Family
Property Description
The Weddle Group of TWG Commercial is pleased to present for sale 3141–43 Imperial Avenue, an eight-unit multifamily property located in the heart of San Diego, California. This asset represents a rare true value-add and development opportunity, offering meaningful upside through renovation, repositioning, and potential redevelopment. The property is well-suited for private investors, multifamily developers, and value-add operators seeking a well-located transit-adjacent opportunity in a rapidly evolving corridor. The property benefits from direct frontage along the newly funded Imperial Avenue Bikeway, scheduled for completion in 2026, which is expected to enhance connectivity, accessibility, and long-term neighborhood appeal. The large, well-configured lot provides substantial development potential and compares favorably to recent multifamily projects in the immediate area. The property, located in an opportunity zone, is immediately adjacent to a San Diego Trolley station, positioning the site to maximize allowable density and development incentives under the City of San Diego's Complete Communities Initiative and California Senate Bill 79, which takes effect July 1st. These policies create a favorable framework for increased residential development, reduced parking requirements, and streamlined approval pathways, making this property particularly attractive to developers, QOZ funds, and institutional capital. The asset will be delivered with three units vacant, allowing a new owner to implement renovations and reposition the property immediately. In addition, there are three vacant two-car garages featuring existing plumbing and electrical infrastructure with direct access to a private courtyard, providing an excellent opportunity for ADU conversion and additional income potential. Under no circumstances should the property be entered or tenants disturbed. All inquiries must be directed exclusively to the listing agent, Gary Weddle.
Location
State CA
County San Diego
Area 92113 - Logan Heights
Zoning RM-3-7
Interior
Fireplace No
Building
Lot Description 0-1 Unit/Acre
Story 2
Others
Tax ID 5453810700
Acceptable Financing Cash, Cash to New Loan, Private Financing Available
Listing Terms Cash, Cash to New Loan, Private Financing Available
Special Listing Condition Standard
Virtual Tour https://my.matterport.com/show/?m=w84rSZx68t2
Listed by Gary Weddle Southwest Equity Partners 858-729-4646, DRE #01919292