799 Ada St

0.35 Acres of Commercial Land Offered at $1,700,000 in Chula Vista, CA 91911

INVESTMENT HIGHLIGHTS

  • Design Review Approved Plans - Architectural plans available, simplifying the development process for investors.
  • Opportunity Zone: Offers significant tax incentives for investors
  • Proposed Plans to Build 18 Units - (6) 2-Bedroom / 2-Bathroom Units (1,076 sq ft) | (12) 3-Bedroom / 2-Bathroom Units (1,222 sq ft)
  • Project located in Palomar Gateway Specific Plan District: A sustainable, transit-oriented community with high-density, walkable urban design
  • Planned Infrastructure Upgrades by SANDAG, City of Chula Vista, and MTS: New bridges at Palomar Street will improve traffic flow & enhance bike lanes
  • Prime Location with Views: Offers bay views & views of the new upcoming Bayfront Gaylord Project

EXECUTIVE SUMMARY

This lot is a 15,185 sq ft lot in Chula Vista with Design Review Approved architect plans from the City of Chula Vista. New construction is in high demand but limited supply in Chula Vista, making this project a rare and lucrative opportunity for investors and developers. With a location that benefits from its proximity to schools, shopping, dining, and transportation, this property will attract a broad range of future tenants or homeowners. This is more than just a plot of land—it’s an opportunity to develop a high-yield residential project in a thriving area with architect design plans already in place. Investors, don’t miss out on this golden opportunity to bring much-needed, high-demand housing to market in Chula Vista. Contact us today to learn more about this exceptional development investment.

FINANCIAL SUMMARY (PRO FORMA - 2026)

ANNUAL ANNUAL PER AC
Gross Rental Income $729,720 $2,093,287.44
Other Income - -
Vacancy Loss $36,386 $104,377.51
Effective Gross Income $693,334 $1,988,909.93
Taxes - -
Operating Expenses $114,080 $327,251.86
Total Expenses $114,080 $327,251.86
Net Operating Income $579,254 $1,661,658.06

PROPERTY FACTS

Price $1,700,000
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

1 LOT AVAILABLE

Lot

Price $1,700,000
Price Per AC $4,876,649.45
Lot Size 0.35 AC

Lot is currently a 15,185 sq ft (0.37 acres). 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

DESCRIPTION

Welcome to an extraordinary development opportunity located in the highly desirable Chula Vista. This expansive lot, spanning an impressive 15,185 sq ft (0.37 acres), is zoned in an Opportunity Zone and situated within the Palomar Gateway Specific Plan District. It is a rare find 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 architectural plans readily available, this opportunity offers investors a significant advantage in streamlining the development process. The Proposed Development includes: (6) 2-Bedroom / 2-Bathroom Units (1,076 sq ft) | (12) 3-Bedroom / 2-Bathroom Units (1,222 sq ft).

ZONING

Zoning Code PRV & RH (Zoning: Palomar Residential Village (PRV)- High Residential (RH) - Opportunity Zone Located in Palomar Gateway Specific Plan District)
  • Listing ID: 34615655

  • Date on Market: 1/27/2025

  • Last Updated:

  • Address: 799 Ada St, Chula Vista, CA 91911