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870 Garnet Ave
San Diego, CA 92109 Pacific Beach

$5,200,000 USD

Land For Sale  •  0.21 AC

Property Details

  • Property Type Land
  • Lot Size 0.21 AC
  • Zoning CC-4-2
50 Transit Score
80 Walk Score

Description

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.

Highlights

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

Property Flyers

Public Transportation

Commuter RailDriveWalkDistance
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
AirportDriveWalkDistance
San Diego International 14 min - 8.1 mi
Ryan King 619-567-2677 CAST Capital Partners
Ryan King 619-567-2677 CAST Capital Partners