4238 Balboa Ave | San Diego, CA 92117
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4238 Balboa Ave
San Diego, CA 92117
4220 Balboa Ave · Property For Sale · 55,863 SF Total
Investment Highlights
- By-Right, Administerial Process-1 Approval
- ~350 Units
- All Leases Expire September 2025
- Incredible Views From North, South, And West Facing Units
- 3-6 Stories
Executive Summary
Rarely does a 4.623-acre coastal, By-Right, development site come available in San Diego. The opportunity starts with three different designs offered by Carrier Johnson, a respected San Diego architect. Depending on the developer’s preference, both podium and wrap product are possible. The property is a unique view experience, having blue water views. Further, the central location of the property gives easy access to Mission Bay, Pacific Ocean, San Diego Airport as well as premium dining and shopping.
The property development process utilizes the Complete Communities program. By utilizing Complete Communities, the future development will be designated as Process I, By-Right, within the city planning process. The By-Right development process is a pure code-based submittal, with building permit plans submitted to the Building Department. This is an important aspect as it precludes the development from being subject to a discretionary process. The project development is also able to enjoy the benefits of having certain local code requirements waived, such as certain setback requirements, commercial requirements, or height restrictions.
The seller is most interested in maximizing value vs. need to close quickly. Developers should take this into consideration when crafting offers.
All leases expire September 2025.
The property development process utilizes the Complete Communities program. By utilizing Complete Communities, the future development will be designated as Process I, By-Right, within the city planning process. The By-Right development process is a pure code-based submittal, with building permit plans submitted to the Building Department. This is an important aspect as it precludes the development from being subject to a discretionary process. The project development is also able to enjoy the benefits of having certain local code requirements waived, such as certain setback requirements, commercial requirements, or height restrictions.
The seller is most interested in maximizing value vs. need to close quickly. Developers should take this into consideration when crafting offers.
All leases expire September 2025.
PROPERTY FACTS In Escrow
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Escrow | Total Building Size | 55,863 SF |
| Number of Properties | 3 | Total Land Area | 1.05 AC |
| Sale Type | Investment |
| Status | Escrow |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 55,863 SF |
| Total Land Area | 1.05 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 4238 Balboa Ave, San Diego, CA 92117 | Office | 9,354 SF | 1970 | - |
| 4220-4238 Balboa Ave, San Diego, CA 92117 | Retail | 28,000 SF | 1976 | - |
| 3949 Clairemont Dr, San Diego, CA 92117 | Office | 18,509 SF | 1960 | - |
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