REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Ryan Caron

ryan@thecarongroup.com +1(781) 866-2889

$ 1,850,000

Est. payment -/mo

Save Virtual Tour

Active Under Contract

2711 Imperial AVE San Diego, CA 92102

UPDATED:

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID NDP2600632

HOA Y/N No

Year Built 1930

Property Sub-Type Mixed Use

Property Description

2701–11 Imperial Avenue is a full corner, 14 unit mixed use investment opportunity located just two miles east of Downtown San Diego in the centrally positioned Grant Hill neighborhood. The property features a distinctive three story building configuration with (5) street facing commercial units on the ground floor and (9) exceptionally large SRO style residential units occupying the upper two stories. The orange hut on the corner of the property also included. The commercial component is highly visible and benefits from strong foot traffic and frontage along Imperial Avenue. The property is currently anchored by two well established, high performing tenants, Ferchaladas, a popular birria and seafood concept with a 4.8 star Yelp rating, and Ana's Fruit & Deli, a long standing neighborhood staple operating out of the iconic standalone orange hut included within the parcel. The remaining storefronts provide additional leasing and rental upside through repositioning or re tenanting. The residential units are notably larger than typical SRO layouts, functioning more li one bedroom apartments in size and feel, while utilizing shared communal bathrooms. There are 2 communal bathrooms on the second floor and 2 communal bathrooms on the third floor, while all first floor tenants including the hut, have their own bathrooms. Several units feature high ceilings, particularly on the third floor, along with partial views toward Downtown San Diego and the Coronado Bridge. While the building has been well maintained with only mild renovations completed to date, the residential component offers clear value add potential through interior upgrades and rent growth toward market levels. The property is zoned CN 1 3 and is located within San Diego's Complete Communities Tier 3 overlay, a Transit Priority Area, and a Qualified Opportunity Zone. This powerful combination may allow for up to approximately 6.5 FAR and roughly 46,000 buildable square feet, subject to buyer verification and city approvals. The site's three sided street exposure, corner positioning, and strong visibility further enhance its flexibility for redevelopment or long term repositioning. Centrally located within San Diego's urban core, the property provides immediate access to Downtown, Balboa Park, Petco Park, Golden Hill, Sherman Heights, and Logan Heights, along with convenient connectivity to I 5, SR 94, and I 15. The surrounding area continues to experience meaningful private investment, infrastructure improvements, and new multifamily development, reinforcing the corridor's long term growth trajectory. Whether the strategy is to stabilize cash flow, enhance the commercial tenancy, renovate and increase residential rents, or pursue a higher density redevelopment, 2701–11 Imperial Avenue presents a compelling opportunity to acquire a truly unique mixed use asset at an attractive basis with significant upside potential. Reach out to listing agents for more information. Ivan Del Muro-Garcia 619-623-2132 idmg@lee-associates.com Lic#0216936

Location

State CA

County San Diego

Area 92102 - San Diego

Zoning Zoned CN-1-3, Complete Co

Interior

Fireplace No

Exterior

Community Features Park

Building

Lot Description Corner Lot, Near Park, Near Public Transit

Story 3

Others

Tax ID 5356910100

Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional, Contract, Court Approval, Cal Vet Loan, 1031 Exchange, FHA 203(b), FHA 203(k), FHA, Fannie Mae, Freddie Mac, Government Loan, Lease Back

Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, Contract, Court Approval, Cal Vet Loan, 1031 Exchange, FHA 203(b), FHA 203(k), FHA, Fannie Mae, Freddie Mac, Government Loan, Lease Back

Special Listing Condition Trust

Virtual Tour https://www.propertypanorama.com/instaview/crmls/NDP2508325

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Eric von Bluecher Lee & Associates 760-929-7846, DRE #01926201