45 unit transit oriented development apartment site …€¦ · • potential for 60 units under...

• Potential for 60 units under the new TOD parking ordinance

• Ready for Building Permits

• Located along the busiest Trolley Line in San Diego

Price $2,925,000 ($65,000/unit)

45 UNIT TRANSIT ORIENTED DEVELOPMENT APARTMENT SITE - FOR SALE

For more information about this property, please contact:

Austin Dias, MSRE (619) 269-6077 [email protected] CA License: 01888482

No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

3830 Ray Street, San Diego, CA 92104 | Phone (619) 491-0335 | Fax (619) 491-0696 | www.DuhsCommercial.com

1507 HOWARD AVE. SAN DIEGO, CA 92173

45 Unit Transit Oriented Development Apartment Site





AERIAL VIEW

IRIS AVENUE

TROLLEY STATION

BUS STATION

BUSINESS PARK

CONDOMINIUMS

GROCERY STORE





AERIAL

SITE

Montgomery Middle School

Southwest Middle School



Nicoloff Elementary

Southwest High School

1507 HOWARD AVE. SAN DIEGO, CA 92173 45 Unit Transit Oriented Development Apartment Site




MAP





PROPERTY INFORMATION Location: 1507 Howard Avenue

San Diego, CA 92173

APN: 637-02-047-00

Land Area: 1.03 Acres

Zoning: CN 1-2 (residential meets requirements for RM 2-5)

Base Density: 1/1,500 SF

Proposed Project Description:

The project consists of one proposed building situated at Howard Avenue in San Diego. The proposed 45,650 SF multifamily building includes 45 two-bedroom, one-bathroom units in a four story structure. The site includes 45 surface parking spaces, 5 motorcycle spaces, and amenities such as a commons room, management office, laundry facility, communal courtyard, and refuse & recycling collection area. The project is designed for market-rate rental workforce housing with 15% of the by-right units designated as affordable housing for Very Low Income residents.

Affordable Housing Density Bonus Incentives

1. Provide residential use in front half of parcel

2. Exceed height limit

3. Reduce private storage

4. Combine private outdoor space with common outdoor space

5. No designated commercial parking

Price: $2,925,000 ($65,000/unit)






AVAILABLE DOCUMENTS

• Architectural

• Massing Study

• Sketch Unit Plans

• Preliminary Engineering Plans

• Phase 1 and Limited Soil Sampling

• City Comment Cycles

• Historical Report

• ALTA Survey

• Caltrans Letter






SITE PLAN 1507 HOWARD AVE. SAN DIEGO, CA 92173


POTENTIAL FLOOR PLANS






MAYOR’S STATE OF THE CITY SPEECH (JANUARY 2019)






“A housing crisis we must tackle.”

“We need a united front to tackle the housing crisis – the No. 1 challenge facing us today.”

“Until then, there are steps we can take right now to build the housing we need. We need to think about homes how we think about water and streets: These aren’t “nice-to-haves.” They are essentials. Federal funding helped open more than 4,000 affordable housing units in our city in the last five years. And it’s barely made a dent. We still need 35,000 more units to house low-income San Diegans. It shows government can’t build its way out of this crisis. We need to get government out of the way, so constructing homes becomes easier, less expensive and faster. We’ve said “no” to new housing for far too long. I’ve made it a priority to reverse this trend through my “Housing SD” plan. We sped up the permitting process. We incentivized developers to construct more affordable homes. We made it easier to build new types of housing like micro units and granny flats. And we added capacity almost 40,000 new homes in communities throughout the city – giving property owners the right to build without going through an onerous approval process.”

“We need to build more housing near employment centers and transit.”





ESTIMATED DEVELOPMENT FEES 1507 HOWARD AVE. SAN DIEGO, CA 92173

SUHSD School Fees ($2.12/SF) $ 1,491

SBUESD School Fees ($1.67/SF) $ 1,174

Development Impact Fees (Transportation, Park, Library, Fire) $ 13,786

Regional Transportation Congestion Improvement Program (RTCIP) $ 2,314

SDCWA Water Capacity Charge (3/4" Meter) $ 5,267

SDCWA Water Treatment Charge $ 146

Water Capacity Charge $ 2,087

Sewer Capacity Charge $ 2,825

Total $ 29,090

MARKET STUDY – APARTMENT RENTS IN SOUTH COUNTY






1 bed 2 bed 3 bed

Year Built Average Rent Average Rent Average Rent

Missions @ Sunbow 1998 $1,667 $2,175 $2,228

Sunbow Villas 2001 $2,367 $2,197 N/A

Terra Vista 2004 $1,948 $2,326 $2,684

Camden @ Sierra 2006 $1,799 $2,019 $2,929

Pinnacle at Otay Ranch 2015 $1,895 $2,062 $2,474

Rosina Vista 2015 $1,968 $2,615 $3,325

Tavera 2016 $1,958 $2,570 $3,539

CasaLago @ Eastlake 2014 $2,025 $2,480 N/A

Pulse @ Millenia 2016 $2,530 $3,185 $2,995

Casoleil 1999 $2,083 $2,103 $2,477

Greenfield Village 2003 $1,710 $2,159 $2,575

Riveredge Terrace 2014 $1,844 $2,490 $2,721

AVERAGE 9 Years $1,983 $2,365 $2,795

Average Rents in San Diego County

1 Bed 2 Beds 3 Beds

Average Rent $1,831 $2,309 $2,914

Y-O-Y Change 4% 6% 4%







MASSING STUDY

45 unit transit oriented development apartment site …€¦ · • potential for 60 units under...

Documents