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799 Ada St

Chula Vista, CA 91911
  • $1,700,000
  • STATUS: ACTIVE
  • ON SITE: 12 Days
  • ID#: 250017259
UPDATED: 45 min ago
$1,700,000
  • 5
    BEDS
  • N/A
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Welcome to an extraordinary development opportunity located in the highly desirable Chula Vista. This expansive lot, spanning an impressive 15,185 sq ft (0.37 acres), is zoned in an Opportunity Zone and situated within the Palomar Gateway Specific Plan District. It is a rare find with Design Review Approval from the City of Chula Vista for an 18-unit high-density residential project. The project is considered entitled, and the architect and civil engineer involved are prepared to release the existing drawings to facilitate the next steps toward completion. With architectural plans readily available, this opportunity offers investors a significant advantage in streamlining the development process! Proposed Development Includes: (6) 2-Bedroom / 2-bathroom Units (1,076 sq ft) (12) 3-Bedroom / 2-bathroom Units (1,222 sq ft) Currently, the property features a 2-bedroom, 1-bathroom single-family residence, offering the possibility of generating rental income or serving as a transitional space during development.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2025 San Diego MLS, Inc. Licensed in the state of California.
www.gellens.com/homes/159717991
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799 Ada St Chula Vista, CA 91911

  • Price: $1,700,000
  • Status: ACTIVE
  • On Site: 12 Days
  • Updated: 45 min ago
  • ID#: 250017259
5
Beds
4
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Chula Vista (91911)
County:
San Diego
Area:
Chula Vista (91911)
Property Description
Welcome to an extraordinary development opportunity located in the highly desirable Chula Vista. This expansive lot, spanning an impressive 15,185 sq ft (0.37 acres), is zoned in an Opportunity Zone and situated within the Palomar Gateway Specific Plan District. It is a rare find with Design Review Approval from the City of Chula Vista for an 18-unit high-density residential project. The project is considered entitled, and the architect and civil engineer involved are prepared to release the existing drawings to facilitate the next steps toward completion. With architectural plans readily available, this opportunity offers investors a significant advantage in streamlining the development process! Proposed Development Includes: (6) 2-Bedroom / 2-bathroom Units (1,076 sq ft) (12) 3-Bedroom / 2-bathroom Units (1,222 sq ft) Currently, the property features a 2-bedroom, 1-bathroom single-family residence, offering the possibility of generating rental income or serving as a transitional space during development.
Exterior Features

Parking Spaces Total 18

Interior Features

Sq Ft Of Improvement 0

Property Features

Actual Gross Scheduled Income 0.0 Actual Operating Expense 0 Assumable Finance 0 Buildings 1 Complex Features Other/Remarks Gross Equity 0 Gross Multiplier 0 Have NA Mandatory Remarks None Known Market Area South Bay Monthly Rent Total 60810 Motive Want NA Projected Cap Rate 6.7 Projected Gardener Expense 5400 Projected Gas And Electric 10800 Projected Gross Multiplier 11.2 Projected Gross Operating Inc 693234 Projected Gross Scheduled Inc 729720 Projected Maintenance Expense 10800 Projected Manager Expense 14594 Projected Net Income 564154 Projected Operating Expense 129080 Projected Pest Expense 4320 Projected Property Mgmt Expense 36486 Projected Taxes Expense 15000 Projected Total Expense 78185 Projected Trash Expense 3240 Projected Vacancy And Credit Loss 36486 Projected Water And Sewer Expense 14040 Short Sale No Unit Number1 12 Unit Number2 6 Unit Rent Total1 41940 Unit Rent Total2 17970 Unit Rent1 3495 Unit Rent2 2995

San Diego MLS logo Listing provided courtesy of Jason Lee of JLM Real Estate Inc: 619-891-0403. Listing information © 2025 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2025 San Diego MLS, Inc. Licensed in the state of California.
 
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Maxine & Marti Gellens | Berkshire Hathaway HomeServices California Properties
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