3045 L Street Apartments

Grant Hill is situated in the southeastern part of San Diego, approximately one mile from downtown. It is bordered by neighborhoods like Logan Heights, Sherman Heights, and Golden Hill, and is easily accessible via Interstate 5 and State Route 94. The neighborhood provides a mix of residential and commercial areas, with tree-lined streets, historic homes, and a vibrant community atmosphere. The neighborhood offers a central location with proximity to many amenities, cultural attractions, and services. Downtown San Diego, with its bustling nightlife, dining, and entertainment options, is just a short drive or bike ride away. Grant Hill's location also provides beautiful views of the San Diego skyline and the Coronado Bridge. In addition to its urban conveniences, Grant Hill maintains a sense of history and local character. Many of the homes in the area reflect architectural styles from the early 20th century, contributing to its unique charm. Overall, Grant Hill offers residents a blend of city living with a touch of nostalgia and is an attractive place to call home in San Diego.ACRE is pleased to present the L Street Apartments, a 10-unit multifamily community with two buildable adjacent parcels located in the high-demand rental neighborhood of Grant Hill. The property features a desirable unit mix of four - 3 bed / 2 bath and six -2 bed / 1 bath units, totaling approximately 9,058 square feet. Five of the units have been recently upgraded with new flooring, appliances, interior paint, and vanities. Community amenities include a gated courtyard, on-site laundry, 10 off-street parking spaces, upgraded windows, and secure steel fencing with controlled access. The exterior also boasts modern paint and low-maintenance desert landscaping. All three contiguous parcels are located in both an Opportunity Zone and the Tier 3 Complete Communities Plan area. The combined lot size is approximately 14,739 square feet, with the two vacant parcels totaling 7,614 square feet. Under RM-3-7 zoning and Tier 3 CCP guidelines, the site offers a 6.5 FAR and a maximum building height of 40 feet, allowing for significant development potential. Also available is the adjacent single-family residence at 3035 L Street, a 4 bed / 1.5 bath home with potential for additional development at the rear of the lot, presenting a unique opportunity to expand or reposition in a fast-growing submarket.