
National City, California 91950
This property presents a High-Potential Investment Opportunity with a List Price of $800,000—positioned well above the $722,878 Fair Market Value by -10%. While currently tenant-occupied, the MXC-2 Zoning allows for high-density development of up to 75 units per acre, making this an ideal Asset for long-term growth. With a Condition Rating of 6, the existing structure serves as a placeholder for future redevelopment. This is a strategic acquisition for Buy-and-Hold Investors or Developers seeking to capitalize on the oversized 8,891 SF corner lot.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1340 E 8th Street Subject | $800,000* List Price | 2 | 1 | 1,072 | $674 | - |
A 1821 Gamma Sold | $700,000 | 3 | 1 | 1,041 | $672 | 0.8 mi |
B 1809 Grove Street Sold | $610,000 | 2 | 1 | 768 | $794 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The property was built in 1946 (78 years old) with no recorded renovations, meeting the >50y criteria. The listing is explicitly marketed for its redevelopment potential and MXC-2 zoning (up to 75 units per acre), indicating the primary value is in the land rather than the existing structure.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8891, living area = 1072.
The MXC-2 zoning permits up to 75 dwelling units per acre and a 65-foot height limit, offering exceptional redevelopment opportunities for multifamily or mixed-use projects by right.
The 8,891 SF corner parcel is significantly larger than the submarket average, providing superior site flexibility, better access, and increased visibility for future value-add plays.
The current tenant-occupied status at below-market rates results in a lower initial cap rate, which may impact immediate cash flow for investors at the $800,000 price point.
Built in 1946, the existing 1,072 SF structure and detached garage may require significant maintenance or capital expenditures if not immediately transitioned for redevelopment.
Tenant-occupied single-family home on a corner lot in National City, offering in-place income today with room to grow. The 8,891 SF lot is well above average for the submarket, and the property includes a detached garage, giving a buyer flexibility beyond the main residence. Current rent of approximately $1,760/month sits below the estimated $2,400/month market rent, providing built-in upside for a new owner from day one. Zoned MXC-2, Major Mixed-Use Corridor, the property permits single-family, multifamily, and mixed residential/commercial development by right, supports up to 75 dwelling units per acre, and allows buildings as tall as 65 feet, subject to the City's approval process. The corner lot position and oversized parcel add further flexibility for a future value-add or redevelopment play, appealing to investors, developers, and owner-users alike. Located minutes from I-5, I-805, and the 8th Street Trolley Station, in a corridor currently benefiting from active public infrastructure investment. A full video and photography marketing package, including additional photos and property information, is available for interested buyers. Contact Ivan Del Muro-Garcia at 619.623.2132 or idmg@lee-associates.com for offering details, or to see what else is currently available in San Diego multifamily. Buyer to independently verify all information including square footage, lot size, zoning, year built, income, and development potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.2 |
| Baths | 1.0 | 2.2 |
| Square foot | 1,072 | 1,425.2 |
| Lot Size | 8,891 | 7,926.16 |
| Price | $800.0K | $758.4K |
| Price per sq ft | $746 | $603 |
| Built year | 1946 | 1954 |
| HOA | $0 | $168 |
| Days on market | 34 | 40 |
Aug 6, 2026
$800,000
Initial Listing
May 22, 2009
$250,000
Public Record
Dec 13, 2005
$325,000
Public Record