3968-74 Oregon Street

The North Park neighborhood is situated in the heart of San Diego, California. It is located northeast of downtown, just a few miles inland from the sparkling coastline of the Pacific Ocean. With its central location, North Park provides convenient access to the city's many attractions and amenities. The neighborhood is bordered by University Heights to the northwest, Hillcrest to the west, and Balboa Park to the south. Its proximity to Balboa Park, one of the largest urban parks in the United States, offers residents and visitors easy access to beautiful green spaces, cultural institutions, and recreational opportunities. North Park is easily accessible via major roadways such as the Interstate 805 and Interstate 8, making it a convenient location for both residents and tourists. Additionally, the neighborhood is serviced by public transportation options, including bus lines and nearby light rail stations, allowing for easy exploration of the wider San Diego area. With its central location in San Diego, North Park provides a vibrant and dynamic urban experience while still being within close reach of the city's stunning natural beauty and coastal charm.South Coast Commercial, Inc is proud to present 3968-3974 Oregon Street, a well-situated 4-unit investment property located in the heart of North Park San Diego. This unique property consists of 2,834 livable square feet situated on a 7,000 square foot lot. The property features (2) detached 2bedroom/1bath SFR’s, (1) extra-large 2bed/1bath apartment, (1) studio apartment, & (3) single car garages. A new owner has significant upside to increase value either by (1) converting the existing 3 garages into ADUS or (2) begin a new ground up development as allowed by right. This site (zoned RM3-9) falls under the complete communities’ 6.5 FAR designation and transit priority area which offers extremely advantageous investment economics for developers and outstanding growth fundamentals for investors. The property has already received historical clearance for demolition and has preliminary plans and designs for 36 units with onsite podium parking. Unit mix for the proposed project is a mix of studios, one- and two-bedroom units but zoning will allow for more units depending on the ultimate developers’ preference.