Listed by Corey McHenry with David Santistevan 619-994-8896

PROBATE SALE | VALUE-ADD MULTI-FAMILY OPPORTUNITY IN PRIME COASTAL POINT LOMA: 3747-53 Udall Street is a highly unique, Loch Crane (architect) designed, value-add / redevelopment multi-family opportunity located in the coveted coastal A+ enclave of Point Loma (city of San Diego). The property boasts 10 units (1 - nonconforming) on 3 separate and adjoining parcels with a total parcel size of approx. 13,290 SF. Located in the Complete Communities overlay with RM-3-7 zoning, the property has several opportunities to add ADU's to both existing built out space (multiple garages and non-conforming space) and brand new construction in the excess land portion of the site. The property is strategically located within 300 feet of the local Point Loma / Hervey Branch Library and community park. It is also boasts a WalkScore of 88 and is within close proximity to top rated schools (elementary through University), upscale shopping, restaurants, tap houses, parks and more. Also within walking distance is Liberty Station, a 361 acre mixed use development featuring a wide array of vibrant restaurants, shopping, movie theaters, wedding venues, office buildings, hotels and residential homes. The property currently consists of 5 - 1BR/1BA (one non-conforming - which was previously a 2BR/1BA unit) & 5 - 2BR/1BA units with one of the 2BR's being an architecturally significant and oversized owner's unit with high ceilings, floor to ceiling windows overlooking a large outdoor space. There are additionally 3 garages. Currently, 50% of the units are vacant and gutted. The occupied units have had recent upgrades, but current rents are still low given the location and rental demand in the area. There is significant upside potential through further renovations and adding in-unit washer/dryers as well as predictably adding 6 additional ADU's to the property, and potentially more (buyer to investigate).