Entitled Corner Development
870 GARNET AVE, San Diego, CA 92109
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Fully entitled corner lot with approved plans for a 29-unit, three-story multifamily project.
Property Size480 SF
Lot Size0.21 Acres
Price / SF$10,833
Days on Market163
Property Features for 870 GARNET AVE
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Investment Type
Site & Location
Neighborhood
Additional Details
Cap Rate
Multifamily Units
Building Details
Buildings
Stories
Tenancy
Listing Agency:
CAST CAPITAL PARTNERS
Listed By:
Bret Morriss · License CA #02037074
(619) 308-6787
Source:
Crexi
Added: Jun 2
Changed: Nov 1
Last Checked: Nov 10 at 5:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CAST CAPITAL PARTNERS
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Investment Insights
Based on property information with market context.
This is a fully entitled corner development lot with approved plans for a 29-unit, three-story multifamily building. The project scope includes a mix of studios, one-bedroom, and two-bedroom residences averaging 589 square feet, with units positioned above a sub-basement parking level. An existing surface parking lot is in place on the site.
The property is located at 870 Garnet Ave in Pacific Beach, near Crystal Pier and surrounded by dining, shopping, hospitality, and entertainment options. The site is presented as execution-ready with entitlement approval already in place.
For developers and investors, the approved plan structure offers a straightforward path to move from site control to design and permitting execution. The existing surface parking lot also provides ongoing utility while plans are advanced, with the annual income cited in the offering materials as approximately $193,833 at a 3.8% cap rate.
The property is located at 870 Garnet Ave in Pacific Beach, near Crystal Pier and surrounded by dining, shopping, hospitality, and entertainment options. The site is presented as execution-ready with entitlement approval already in place.
For developers and investors, the approved plan structure offers a straightforward path to move from site control to design and permitting execution. The existing surface parking lot also provides ongoing utility while plans are advanced, with the annual income cited in the offering materials as approximately $193,833 at a 3.8% cap rate.
Key Highlights
- Fully entitled 9,353 SF corner lot with approved plans for a 29‑unit, three‑story multifamily building
- Unit mix includes studios, one‑bedroom, and two‑bedroom residences averaging 589 SF
- Plans call for residences above a sub‑basement parking level
Property Analytics
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Lease Details
29
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,515
Businesses Nearby
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Business Placement
Demographics for 92109, CA
44,671
Population
26,503
Households
1.7
Avg Household Size
35
Median Age
70%
College-Educated
97%
High-School Grad
7.6 sq mi
ZIP Area
5,878
Density / Sq Mi
$118,300
Median Household Income
$71,054
Median Earnings
$2,362
Median Rent
$1,136,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Fully entitled corner lot with approved plans for a 29-unit, three-story multifamily project.
Where is this residential land & home lot located?
The property is located at 870 GARNET AVE San Diego, CA.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Fully entitled 9,353 SF corner lot with approved plans for a 29‑unit, three‑story multifamily building; Unit mix includes studios, one‑bedroom, and two‑bedroom residences averaging 589 SF; Plans call for residences above a sub‑basement parking level
