3933 Utah

San Diego, CA, 92104

For Sale $2,625,000

0.26acre

Shen Schulz (310) 980-8809shen@shenrealty.com

One of San Diego's rarest development opportunities, a permit-approved, shovel-ready site for an 8-story, 70-unit multifamily building in the heart of North Park. Entitlements are secured, architectural plans by Ehrlich Yanai Rhee Chaney Architects are complete, and four occupied residential units renovated in 2023 with new appliances and updated finishes generate $12,885/month ($154,620/yr) in current income while you prepare for construction. The approved project features 70 units averaging ~615 SF (studios, 1BR, 2BR), ground-floor lobby and leasing space, rooftop clubhouse and deck, and 29 underground parking spaces. Projected market rents are supported by comparable properties averaging $4.57/SF with 90%+ stabilized occupancy. At $2,625,000, just $37,500 per approved unit, this assemblage offers compelling value relative to comparable entitled land sales ranging from $69,000 to $115,000/unit. North Park is fully built out with virtually no remaining infill sites of scale. WalkScore of 97. 450,000+ jobs within 15 minutes. Both parcels (APN #446-411-11-00 + APN #446-411-12-00) must be acquired together. Architectural plans and permits for the 70-unit development are available for separate purchase. Inquire with agent for details and pricing.

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Listed by:

Ken Schwartz with Century 21 Affiliated

(619) 471-2000

3933 Utah is a Land property located in San Diego, California, featuring a 0.257 acre lot, MLS #260008135SD.

Based on information from one of the following Multiple Listing Services: CRMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Trestle and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. All data, including all measurements and calculations of area, is obtained from various sources, is approximate, and has not been, and will not be, verified by broker or MLS. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. All information should be independently reviewed and verified for accuracy. No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of such measurements.

Data last modified: 2026-04-07 23:15:39