235-37 Willie James Jones Ave - Apartments FOR SALE


San Diego, CA 92113- Lincoln Park
$950,000 USD
760-929-9700
235-37 Willie James Jones Ave, San Diego, CA for Sale
$950,000 USD
Apartments - FOR SALE
1/6
null | Request Cap Rate

235-37 Willie James Jones Ave
San Diego, CA 92113
Lincoln Park


HIGHLIGHTS

  • Zoning RM-2-5: Up to 9 units by right (29 DU/acre)
  • Complete Communities Tier 3: FAR up to 6.5× | Potential ±91,000 SF
  • Transit-Oriented: In TPA & SDA for reduced parking and streamlined approvals
  • Opportunity Zone + Promise Zone: Major tax incentives and funding eligibility
  • Interim Income: Existing duplex generates holding-period cash flow
  • Infill Corridor: Near major planned developments and ongoing revitalization

OVERVIEW

The von Bluecher Group of Lee & Associates – San Diego Multifamily Investments is pleased to present 235–237 S Willie James Jones Ave, a well-located development opportunity just minutes from Downtown San Diego. Situated within a high-growth corridor of Logan Heights, the site sits near Related Companies’ planned 80-unit Southwest Village and is surrounded by new and upcoming multifamily projects, making it an attractive option for forward-thinking developers. The property spans ±14,367 Sf, zoned RM-2-5, and is currently improved with income-producing two units generating $3,425/month in gross rental income. This provides a rare opportunity to offset holding costs during the entitlement and planning process. The site allows up to 9 units by right, with substantial upside through San Diego’s Complete Communities Tier 3 program—offering FAR up to 6.5× and a theoretical buildout of ±91,000 SF. Located within a Transit Priority Area (TPA), Sustainable Development Area (SDA), and Qualified Opportunity Zone, the property benefits from development incentives including reduced parking, expedited permitting, and potential tax advantages. Property Overview: • ±14,367 SF lot • Existing duplex with (2) 2BR/1BA units • Gross monthly income: $3,425 • Zoning RM-2-5: Up to 9 units by right (29 DU/acre) • Complete Communities Tier 3: FAR up to 6.5× | Potential ±91,000 SF • Transit-Oriented: In TPA & SDA for reduced parking and streamlined approvals Buyer to verify all development potential and incentives with the City of San Diego. Ownership will consider all qualified offers.

FOR SALE DETAILS

PRICE

$950,000 USD

PRICE/SF

$597 USD /SF

# OF UNITS

2

PRICE/UNIT

$475,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,367 SF

ZONING

RM-2-5

APN/PARCEL ID

548-242-26-00

ASK ABOUT THIS PROPERTY

Ivan Del Muro-GarciaLee & AssociatesMore Info
760-929-9700

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Ivan Del Muro-GarciaLee & AssociatesMore Info
760-929-9700

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.