Land For Sale • 0.21 AC
870 Garnet Avenue is a rare, fully entitled multifamily development site located in the heart of Pacific Beach, one of San Diego’s most dynamic coastal neighborhoods. Situated on a prominent corner lot along Garnet Avenue, the property benefits from exceptional visibility, strong pedestrian traffic, and immediate access to the area’s top dining, retail, and entertainment destinations. The approved plans feature a contemporary three-story residential building constructed over a sub-basement parking level, thoughtfully designed to maximize density while maintaining an efficient and modern layout. The project’s coastal-modern architecture, balconies, and integrated parking complement the surrounding neighborhood while appealing to the area’s strong renter demographic. With proximity to the beach, Crystal Pier, and major employment nodes, the property is ideally positioned to capture long-term rental demand. This execution-ready opportunity offers investors and developers a compelling blend of entitlement certainty, premier location, and long-term value creation in a supply-constrained coastal market.
| Stamped plans for 29-Unit Multi-Family development included |
| Fully entitled and execution ready |
| Prime corner of Garnet Ave and Bayard Ave with Parking Income |
| Proforma Parking Cap Rate: 3.8% |
| Proforma Parking Income: $193,833 |
| Located in the heart of Pacific Beach, two blocks from Crystal Pier and surrounded by amenities |
| Commuter Rail | Drive | Walk | Distance |
|---|---|---|---|
| Old Town Transit Center (Coaster - San Diego North County Transit District (Coaster/Sprinter/Breeze)) | 11 min | - | 6.6 mi |
| San Diego (Santa Fe Depot) (Coaster - San Diego North County Transit District (Coaster/Sprinter/Breeze)) | 15 min | - | 8.4 mi |
| Airport | Drive | Walk | Distance |
| San Diego International | 14 min | - | 8.1 mi |