4637 Del Mar, San Diego CA 92107 | $2,950,000

Unlike anything else available on the market, 4637 Del Mar Ave is the premium South Ocean Beach opportunity you dream about to provide affordable housing to the community. This rare, south-facing 10,500s.f. ocean-view lot with pool offers Owners/Users/Investors and Developers a massive opportunity with an existing fully renovated home AND being sold with approved, ready-to-issue plans to build 12 additional ADU’s. Buyers can pull permits and start construction with no further city permit approvals needed - just the issuance fees - to transform this single-family residence into a lucrative 13-unit powerhouse. The existing fully remodeled home is perched high on the hill with views of the ocean to the south and west. Filled with coastal character, it offers 3-beds, 2-baths plus an oversized optional 4th bedroom off one of the two rear decks with coastal views. (The home is 1384sq.ft. on tax records and the remainder of the estimated listed square footage is in the optional 4th bedroom/bonus room). The home features a sparkling kitchen with stainless steel appliances and tasteful backsplash, crystal clear dual pane windows, full-size laundry room, mini-split AC/heating units throughout for maximum comfort/efficiency, modern bathrooms and large primary suite with a walk-in closet and direct access to one of the viewing decks. Oh, and don’t forget about the pool for fun in the sun without having to go to the beach! The fully approved, ready-to-issue plans are for 12 additional 1BR/1BA 435s.f. ADU units to be built on the back portion of the property, for 5,220s.f. of new living area composed of 6 duplex structures. These plans include space for approximately 4-5 dedicated parking spaces off the alley as well.  This is the ultimate development or 1031 opportunity to bring additional housing units to one of San Diego’s most desirable neighborhoods where space is at a premium. Just minutes to iconic Sunset Cliffs, the OB Pier, and Liberty Station - do not let this premium coastal development property slip away!

More Details