Multifamily Affordable Development Site in San Diego

The San Ysidro Boulevard Apartments offers a unique two parcel development opportunity with seven (7) existing conforming units and three (3) additional non-conforming units as well as a vacant front structure with a code violation. The offering consists of 10 operating units: two (2) 2+1s; six (6) 1+1s; two (2) studios plus parking income generating over $23,850 per month. There are approximately six (6) separate gas and electric meters as well as one storage unit for additional income. This is an ideal affordable or senior development property or add value through permitting the non-conforming units and adding additional units. This asset is located on the corner of San Ysidro Blvd and Alverson Rd on a 1.15 acre lot and zoned RM-1-1 with medium density overlay. The site sits in an Opportunity Zone, Complete Communities, San Ysidro Business Improvement District and Transit Priority Area. New and in-progress affordable housing and senior housing is located just down the street along with San Ysidro’s improving businesses as a planned opening of an El Super & retail center upgrade across the street coming in 2023. Investors and developers to verify all the above with the appropriate agencies.


1902 Wright Place, Suite 180
Carlsbad, CA 92008, USA

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