La Jolla CA Real Estate & Commercial for Sale

We are excited to offer for sale a superbly located multifamily property/redevelopment site in La Jolla, just 3.5 blocks from Marine Street Beach, on a prominent La Jolla commercial/mixed-use thoroughfare, within walking distance to top-tier schools, shopping, dining, several beaches and parks. Currently featuring five (5) 1950s-vintage single-story units, buildings/interiors are in need of some improvement in order to be able to capture upper market rents relative to the area, yet the true value lies in the land and its redevelopment potential. The Property sits in the Complete Communities Coastal Height Overlay Zone, allowing for up to a 2.5 FAR (or a max building size of +/-12,637 SF) for new CCHS development, if the proper guidelines adhered to, including some lower income unit(s). Base zoning is LJPD-4, allowing for about a 1.3 FAR build out by right, if all market rate units are desired. Current unit mix consists of: Two (2) studios); Two (2) 1Br/1Ba units; and One (1) 2Br/1Ba unit. There are three (3) surface off-street parking spaces in the front. This is a rare opportunity to acquire and re-develop a mixed-use trophy asset in one of California's most coveted ultra-premium coastal sub-markets, just steps from world class beaches, dining, and shopping. Great for someone with their own business and the capacity to develop a class 'A' storefront on a prominent La Jolla street, with ideally situated multifamily units for strong added income potential after full build out. Ocean view potential via new construction at max. allowable building height. Ocean view potential upon full build out to maximum allowable building height. A design that may implement rooftop sunset/ocean view decks/balconies seems ideal, in order to capture discerning top-tier La Jolla renter clientele, at top of market rents for the area.

This exceptional opportunity is located steps from the beach in the Village of La Jolla and walking distance from San Diego's most coveted amenities. The property consists of an SFR/retail/residential flex space and ten studio units, three one-car garages to the rear of the property with alley access and four surface parking spots off La Jolla Blvd, new roofing over the garages and front house sections, new garage doors, recently replaced wood fencing on the first level. Each unit boasts large enclosed patios, new interior electrical subpanels, upgraded windows in select units. Call or text for a full marketing package.

Located in the affluent and internationally known Village of La Jolla, in a highly desirable location with a limited supply of office space. Well suited for owner occupancy with green hillside views, near shops, schools, across the street from the La Jolla Farmer's Market, restaurants & a few minute drive to beautiful sandy beaches. The property features landscaped outside patio area for relaxing and gathering, convenient underground parking, and more. This dynamic location has become a hub for office and medical activity due to neighboring newly constructed medical/office buildings, easy access for neighborhoods, visibility, walkability, and nearby freeways.