±10,503 SF Lot | San Diego

Highlights:

• 29-Unit RTI Project: RTI plans are in place for a 29-unit residential development
• Infill San Diego Location: The property benefits from proximity to Downtown, major employment centers, transit, and amenities.
• Cost-Efficient Construction: The three-story walk-up design and efficient building layout create a cost-effective development
• Workforce Housing: The efficient studio and one-bedroom unit mix is designed to serve San Diego’s growing workforce

Description:

4476–4478 Ocean View Boulevard presents a rare opportunity to acquire a fully permitted, construction-ready multifamily development site in the Southeastern San Diego neighborhood. The project has received building permits and RTI approval for a 29-unit residential community consisting of 27 newly constructed ADUs, one garage-conversion ADU, and the preservation of the existing single-family residence.

The approved development consists of a three-story residential building totaling approximately 14,061 gross square feet and 13,355 rentable square feet, offering an efficient unit mix designed to serve San Diego’s growing workforce housing demand. The project incorporates a mix of studio and one-bedroom floor plans, maximizing rental efficiency while providing attainable housing in a market characterized by chronic supply constraints and continued population growth.

One of the most compelling aspects of the opportunity is the project’s advanced stage of development. Building, electrical, mechanical, plumbing, and right-of-way permits have been issued, allowing a buyer to immediately commence construction and avoid the lengthy entitlement, design, and permitting timelines that continue to challenge new housing development throughout California. This substantially reduces execution risk while accelerating the path to completion and stabilization.

Located within the City of San Diego, the property benefits from proximity to major employment centers, Downtown San Diego, Naval Base San Diego, transit corridors, and neighborhood-serving retail and services. The project is positioned to capitalize on strong renter demand for newly constructed housing at a time when replacement costs and barriers to entry continue to rise.

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