420-22 E 9th St is a value add opportunity in a great location of National City. Not only can you raise the current rental income, but you can also add units to existing lot. The property's zoning (MXC-2; Major mixed use corridor) allows for up to 29 units on the lot if 3 dwelling units are affordable units. The Max FAR with mixed use is 3.5 and Max FAR with Single Use is 2.5. The lot size is 11,700 Sq Ft and the current total rentable Sq ft is 4,268 SF. The unit mix consists of one 4 bed/2 bath unit (rented out by the room), one 3 bed/2 bath unit, and four 1 bed/1 bath units in the victorian building. This property is in a rapidly gentrifying location of National City with new developments going up in multiple locations and the rental market is extremely strong. According to the previous owner, the seller believes the craftsman building was built in the 1920s and the back structure was built in the 1970s.
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