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Affordable Housing Redevelopment Opportunity 190 E Calle Primera 70 Room Hotel San Diego, CA 92173 For Sale
INVESTMENT HIGHLIGHTS
- Easy access to two major interstates (I-5 & I-805)
- Potential government funding available depending on use
EXECUTIVE SUMMARY
This site, located in San Ysidro, is an excellent opportunity for a non-profit, tribal group, developer or private investor to execute the prior ownership’s business plan, with a possibility of utilizing California state agency grant program funding.
Originally awarded a $24M grant, a qualified buyer may be able to access the remaining funds originally granted to this project for CapEx improvements/ renovations and operating funds for onsite services.
Pre-qualification of potential buyers for this site and these grant funds will be determined by a state agency. The purpose of the associated state grant is to provide housing and caregiving support to older adults with disabilities experiencing, or at risk of experiencing, homelessness.
The property currently consists of four, two-story buildings built in 1975 and renovated in 2004, with 71 units and surface parking spaces. Previous ownership intended on converting the property to a permanent affordable supportive housing project. It planned on a total net rentable project of 18,000± SF consisting of 70 studio units and a one-bedroom manager’s unit.
Hilco Real Estate CA, Inc. License ID 02104676.
Originally awarded a $24M grant, a qualified buyer may be able to access the remaining funds originally granted to this project for CapEx improvements/ renovations and operating funds for onsite services.
Pre-qualification of potential buyers for this site and these grant funds will be determined by a state agency. The purpose of the associated state grant is to provide housing and caregiving support to older adults with disabilities experiencing, or at risk of experiencing, homelessness.
The property currently consists of four, two-story buildings built in 1975 and renovated in 2004, with 71 units and surface parking spaces. Previous ownership intended on converting the property to a permanent affordable supportive housing project. It planned on a total net rentable project of 18,000± SF consisting of 70 studio units and a one-bedroom manager’s unit.
Hilco Real Estate CA, Inc. License ID 02104676.
PROPERTY FACTS
| Sale Type | Investment | No. Rooms | 70 |
| Sale Condition | Redevelopment Project | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1975/2004 |
| Property Subtype | Hotel | Tenancy | Single |
| Building Class | C | Parking Ratio | 3.5/1,000 SF |
| Lot Size | 1.21 AC | Corridor | Exterior |
| Building Size | 19,440 SF | ||
| Zoning | CC-2-1 - Commercial Community | ||
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.21 AC |
| Building Size | 19,440 SF |
| No. Rooms | 70 |
| No. Stories | 2 |
| Year Built/Renovated | 1975/2004 |
| Tenancy | Single |
| Parking Ratio | 3.5/1,000 SF |
| Corridor | Exterior |
| Zoning | CC-2-1 - Commercial Community |
AMENITIES
- Business Center
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 70 | $103.30 CAD | - |
1 1
PROPERTY TAXES
| Parcel Number | 666-170-40 | Improvements Assessment | $2,384,386 CAD |
| Land Assessment | $6,311,610 CAD | Total Assessment | $8,695,996 CAD |
PROPERTY TAXES
Parcel Number
666-170-40
Land Assessment
$6,311,610 CAD
Improvements Assessment
$2,384,386 CAD
Total Assessment
$8,695,996 CAD
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Affordable Housing Redevelopment Opportunity | 190 E Calle Primera
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