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Luxury Live Auction! Bidding to start from $2,500,000! This incredible investment property, located at 1235-1241 Hueneme Street, offers breathtaking, unobstructed ocean views from most units due to its elevated position above the surrounding neighborhood. Boasting a 14,348 SF lot directly across from the University of San Diego, this property combines a prime location with remarkable views spanning from Mission Valley to Mission Bay. Currently, four residential income units are on-site, three of which have been beautifully upgraded with modern flooring, sleek baseboards, granite countertops, and stainless steel appliances, adding a touch of luxury to each. Each unit also includes a spacious, private patio—some with stunning views—providing residents a peaceful retreat. With ample parking and proximity to USD, this property is highly appealing to renters, ensuring steady demand and low vacancy rates. For investors eager to maximize potential, the high-density multifamily zoning under the Complete Communities 4.0 FAR overlay creates an exciting opportunity for development. As per the seller, expansion to a total of 35 units—comprising 28 two-bedroom and 7 three-bedroom layouts—is possible, along with an 80-space parking structure. This unique combination of privacy, panoramic views, and a prime location makes this property an ideal choice for investors seeking both immediate income and significant long-term growth potential.
Property Type(s):
Residential Income
| Last Updated | 11/5/2024 | Tract | San Diego |
|---|---|---|---|
| Year Built | 1957 | Community | Old Town Sd |
| County | San Diego |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Gas Water Heater |
| AREA | Old Town Sd |
| HOA DUES | 0 |
| LOT | 0.33 acre(s) |
| STORIES | 2 |
| SUBDIVISION | San Diego |
| VIEW | Yes |
| VIEW DESCRIPTION | Ocean |
Location
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Listed with Harcourts Prime Properties
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