918-32 27th Street - Multi-Family FOR SALE


San Diego, CA 92102- Logan Heights
$3,500,000 USD
858-761-2529
918-32 27th Street, San Diego, CA for Sale
$3,500,000 USD
Multi-Family - FOR SALE
1/6
null | Request Cap Rate

918-32 27th Street
San Diego, CA 92102
Logan Heights


HIGHLIGHTS

  • Robust Development Potential: Zoned for up to 125+ units with a 6.5 FAR (~113,951 SF) spread across multiple parcels.
  • Immediate Income: Six units (3 long-term, 3 short-term rentals) that can deliver revenue during planning or entitlement stages.
  • Situated on three contiguous parcels that total 17,560 sq ft with attractive RM-2-5 zoning.
  • Prime Urban Location: Proximity to downtown, Balboa Park, and major transit routes, with iconic skyline and bridge views.
  • Walkable Lifestyle: Walk Score of 86/100, offering easy access to vibrant dining, retail, and cultural attractions.
  • Rare Opportunity Zone Location: providing the next developer with potential tax savings and benefits.

OVERVIEW

We are pleased to offer 918-32 27th Street, an advantageous three-lot assembly in San Diego’s vibrant Golden Hill neighborhood, offering a blend of immediate income and substantial redevelopment potential. Comprised of 3 parcels on a 17,560 SQ FT lot, this property distinctively features six revenue-generating duplex units. There are currently three (3) one-bedroom/one-bathroom units (500 SF each) and three (3) two-bedroom/one-bathroom units (600 SF each). The units, a mix of long-term leases and furnished short-term rentals, provide consistent cash flow for investors. Located in a Qualified Opportunity Zone (QOZ) with RM 2-5 zoning, an SDA overlay, and Tier 3 Complete Communities designation, the site supports a 6.5 FAR, enabling up to 113,951 square feet of buildable space, potentially yielding a 125+ unit development. With historical clearances already secured, the lot’s elevated position offers sweeping views of the San Diego skyline and Coronado Bridge, enhancing its allure for future residents. Golden Hill’s lively urban fabric, with a Walk Score of 86, places tenants within steps of eclectic experiential dining spots like Turf Supper Club and Counterpoint, boutique shops, and cultural hubs like the San Diego Museum of Art and the Golden Hill Fountain Grotto, Balboa Park’s oldest design feature. Quick access to Downtown, North Park, Hillcrest, and major freeways (I-5, I-94) ensures seamless connectivity and convenience from this central location. This property presents a noteworthy opportunity to acquire a cash-flowing asset with transformative growth potential in one of San Diego’s most dynamic markets.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$749 USD /SF

# OF UNITS

6

PRICE/UNIT

$583,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1936

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,560 SF

ZONING

RM-2-5

APN/PARCEL ID

535-681-01

ASK ABOUT THIS PROPERTY

Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

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Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

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