Description
Located in the heart of San Diegos 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 citys 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 Diegos 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, offering income while entitlements or redevelopment plans are pursued. 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. It has favorable zoning, strong rental fundamentals, and a location in a High Resource CTCAC/HCD Area.
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School Ratings & Info
Description
Located in the heart of San Diegos 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 citys 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 Diegos 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, offering income while entitlements or redevelopment plans are pursued. 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. It has favorable zoning, strong rental fundamentals, and a location in a High Resource CTCAC/HCD Area.
Based on information from California Regional Multiple Listing Service, Inc. as of 2025-05-17T08:28:19.057. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or SLO Real Estate Group | Keller Williams Realty Central Coast. Licensed in the State of California, USA.