| CREOP

This 4-unit property is in the highly sought after 3rd Avenue Village District of Chula Vista. Walk to restaurants, the park and the Chula Vista Mall. Located in a "Transit Focus Area": New zoning (UC-2) allows construction of 20 to 30 units and some parking variances. Great development property that allows developer to receive income while going through permitting process. Rents have 10-20% upside across the board. Property consists of (1) commercial unit, (1) 2 bed/1 bath unit, & (2) 1 bed/1 bath units on a 5,169 SF lot.

Third Avenue Village is the heart of Chula Vista’s historic downtown. Shops, restaurants, businesses, services, a boutique bed and breakfast, and rental halls are located along the avenue. Activities along Third Avenue include a weekly Farmers Market, and signature events such as the Lemon Festival, Village Street Fair, Holiday in the Village and the Starlight Parade. The City of Chula Vista and the Third Avenue Village Association have collaborated to make a significant investment in upgrading the Village with infrastructure improvements. Third Avenue Streetscape Improvements began in 2012. Phase 1 was a $5 million project that renovated Third Avenue from H to Madrona Streets. The new enhancements on Third Avenue included including traffic calming measures for better pedestrian access, new median landscaping, trees, lighting, furnishings and community gateway features, expanded bicycle parking, relocated transit stops and new transit shelters. This phase of the project was funded in part with TransNet Smart Growth Incentive Program from SANDAG. Additional funds came from the City's Capital Improvement Program and the Third Avenue Village Association (TAVA).