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$ 1,795,000
Est. payment | /mo
1.99 Acres Lot
$ 1,795,000
Est. payment | /mo
1.99 Acres Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID NDP2506916
HOA Y/N No
Lot Size 1.990 Acres
Property Description
Presenting a prime infill development opportunity in the heart of Spring Valley, this ±1.99-acre site at 969–975 Gillespie Drive offers a rare chance for residential builders to capitalize on San Diego's growing housing demand. Zoned Village Residential (VR-15), the property supports a wide range of residential development options including single-family homes, duplexes, townhomes, ADUs (both attached and detached), and stacked multifamily units. Preliminary calculations from Lightfoot Planning Group (April 2025) project the potential for 36 to 45 units through the application of the City's Density Bonus Program. Strategically situated in a transit-oriented corridor, the property is within a 10-minute walk of two trolley stations and multiple bus lines, offering residents seamless connectivity to the greater San Diego region. The topography is generally level, with utilities on site including a fire hydrant at Gillespie and St. George. The area is already a vibrant residential hub, bordered by a middle school to the east, senior apartments to the south, and multiple multifamily complexes to the north—providing a strong foundation for community growth and integration. The property currently includes four existing structures—three of which are older rental homes providing interim income, and one that is vacant and likely a tear-down. This setup offers developers the advantage of cash flow during the entitlement process, making it an ideal land-banking opportunity. With strong rental demand in the area, immediate access to Highway 94, and close proximity to schools, transit, and essential services, this site offers the perfect blend of holding potential and long-term development upside. For builders targeting infill opportunities with scale, flexibility, and prime location, this asset is well-positioned in one of San Diego's most active and supply-constrained residential submarkets.
Location
State CA
County San Diego
Area 91977 - Spring Valley
Zoning Residential: Multi Family
Interior
Fireplace No
Exterior
Community Features Suburban
View Y/N Yes
View Neighborhood, Panoramic
Building
Lot Description Lot Over 40000 Sqft, Level, Value In Land
Others
Senior Community No
Tax ID 5840623700
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Jeff Kane Coldwell Banker West