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799 Ada St 0.35 Acres of Commercial Land Offered at $2,226,492 CAD in Chula Vista, CA 91911
INVESTMENT HIGHLIGHTS
- Design Review Approval from the City of Chula Vista
- Project is considered entitled
- Located in an Opportuniy Zone
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL (CAD) | ANNUAL PER AC (CAD) |
|---|---|---|
| Gross Rental Income |
$1,018,631
|
$2,922,061.88
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$50,932
|
$146,103.09
|
| Effective Gross Income |
$967,699
|
$2,775,958.78
|
| Taxes |
$27,832
|
$79,838.94
|
| Operating Expenses |
$159,247
|
$456,817.44
|
| Total Expenses |
$187,078
|
$536,656.37
|
| Net Operating Income |
$780,621
|
$2,239,302.41
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,018,631 |
| Annual Per AC | $2,922,061.88 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $50,932 |
| Annual Per AC | $146,103.09 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $967,699 |
| Annual Per AC | $2,775,958.78 |
| Taxes (CAD) | |
|---|---|
| Annual | $27,832 |
| Annual Per AC | $79,838.94 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $159,247 |
| Annual Per AC | $456,817.44 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $187,078 |
| Annual Per AC | $536,656.37 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $780,621 |
| Annual Per AC | $2,239,302.41 |
PROPERTY FACTS
| Price | $2,226,492 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 0.35 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | PRV & RH - Zoning: Palomar Residential Village (PRV)- High Residential (RH) - Opportunity Zone Located in Palomar Gateway Specific Plan District | ||
| Price | $2,226,492 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.35 AC |
| Opportunity Zone |
Yes |
| Zoning | PRV & RH - Zoning: Palomar Residential Village (PRV)- High Residential (RH) - Opportunity Zone Located in Palomar Gateway Specific Plan District |
1 LOT AVAILABLE
Lot
| Price | $2,226,492 CAD | Lot Size | 0.35 AC |
| Price Per AC | $6,386,954.85 CAD |
| Price | $2,226,492 CAD |
| Price Per AC | $6,386,954.85 CAD |
| Lot Size | 0.35 AC |
Situated on a massive 15,185 sq ft lot.
DESCRIPTION
Welcome to an extraordinary development opportunity in the highly desirable Chula Vista — now offered with a price reduction of over $100,000. This expansive 15,185 sq ft (0.37 acres) lot is zoned in an Opportunity Zone and situated within the Palomar Gateway Specific Plan District. A rare find, the property comes 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 design review approval, 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 each) (12) 3-Bedroom / 2-Bathroom Units (1,222 sq ft each) 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. Once complete, this project is projected to deliver a stabilized Return on Cost of approximately 6.81%.
Presented by
799 Ada St
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