$8,354/mo
Welcome to an extraordinary development opportunity located in the highly desirable Chula Vista. This expansive lot, spanning an impressive 15,185 sq ft (0.37 acres), is zoned in an Opportunity Zone and situated within the Palomar Gateway Specific Plan District. It is a rare find with Design Review Approval from the City of Chula Vista for an 18-unit high-density residential project. The project is considered entitled, and the architect and civil engineer involved are prepared to release the existing drawings to facilitate the next steps toward completion. With architectural plans readily available, this opportunity offers investors a significant advantage in streamlining the development process! Proposed Development Includes: (6) 2-Bedroom / 2-bathroom Units (1,076 sq ft) (12) 3-Bedroom / 2-bathroom Units (1,222 sq ft) Currently, the property features a 2-bedroom, 1-bathroom single-family residence, offering the possibility of generating rental income or serving as a transitional space during development.
