986 Turquoise St & 5220 Cass St, San Diego, CA 92109
Large corner Lot approx. 11,279 SF bordering La Jolla and North Pacific Beach only blocks from the ocean. This automotive tenant occupies the front lot with building consisting of three bays, an office, large front fenced parking lot and secondary smaller back fenced lot. Garages approx. 2133 SF. See floor plans.
The back residence has it's own address and frontage on adjacent street of Cass just south of La Jolla by a few blocks with 3 bedrooms and 2 bathrooms, enclosed front and back yards all recently renovated and three off street parking spaces. It is approx. 1406 SF. See floor plans and Matterport on request.
The Lot abuts the back alley for a third access point. Both tenants have less than market value rents for a value add to new owner or could possibly be a new redevelopment location. The property sits on two famous streets in the San Diego beach area and is across the street from shops, dining, a Class A building selling for $2.4M in 1999.
This is a rare opportunity for someone to purchase a prized location that has
not been on the market in over 35 years. A must see!
SALE HIGHLIGHTS (BUYERS TO VERIFY PRIOR TO COE)
• 11,279 SF Corner Lot on Turquoise and Cass St
• Gated Lot with 12 Parking Spaces
• Zoned CC-4-2
- The following zones allow heavy commercial uses and residential uses:
- CC-4-2 is intended to accommodate development with high intensity, strip commercial characteristics and permits a maximum density of 1 dwelling unit for each 1,500 square feet of lot area (prior to any bonus allowances).
• 60' Height Maximum
• Mixed-Use Redevelopment Project
• Corner Lot is 78' x 144' on Alley
• Max FAR is 2.0 without Bonus
• Located in a Transit Corridor- 0.3 MI from Turquoise/Mission Blvd to La Jolla.; 0.3 MI from Sapphire/Mission Blvd. to Mission Valley, SDSU or Downtown leaving every 15 minutes or less within a 0.5 MI of Lot.
• Home is located in La Jolla School District
• SFR 3B/2B Average Sale 2018-2019 $1,034,222, YR Built Av. 1945, and AV SF 1,079 and $958.50/SF
• 5220 Cass St. is a detached SFR 3B/2B 1406 SF (approx.) recently renovated.
• SFR rentals comped for number of B/B, sf, yr built and location garner $4,000-$6,000/m for 12 month Leases both to N and S of property. See Residential Supplement for sales and leasing comps.
• Home has fenced private front and backyards and three off street designated parking spaces.
• Current Tenant is M-M
For More Information Contact 619-469-3600
The information contained herein has been given to us by the owner of the property or other sources we deem reliable, we have no reason to doubt Its accuracy, but we do not guarantee it. All information including zoning, financials, leases, square footage, permits and use should be verified during due diligence and prior to completing a purchase or lease.
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