5153 5155 Muir Avenue, San Diego, CA 92107

Property Description

RARE OCEAN BEACH INVESTMENT OPPORTUNITY — TWO DETACHED RESIDENCES JUST STEPS FROM THE SAND WITH PRIOR CITY APPROVAL FOR CONDOMINIUM CONVERSION. An extraordinary opportunity in prime Ocean Beach, this unique property features two substantial detached residences on one coastal parcel, offering an exceptional combination of income potential, multigenerational living, luxury beachside use and potential future separate-sale strategy. Of particular interest to investors and developers, the City of San Diego previously approved a Coastal Development Permit and Tentative Map Waiver for the conversion of the two existing residences into two condominiums. Buyer to independently investigate the current status of those approvals and requirements for reestablishing, extending or pursuing any condominium conversion, subdivision or separate-sale strategy. The property sits 1/2 block from the sand and offers approximately 6,165 sq. ft. of land plus an additional approximate 3,000 sq. ft. easement, along with exceptional parking rarely found this close to the beach. The front residence is a beautifully maintained Craftsman-style 3-bedroom, 2-bath home (plus 1000sqft attic not included in sqft) featuring wood floors, quartzite countertops, an expansive finished attic providing valuable bonus space, a gated front yard, covered porch, turf lawn and outdoor entertaining area. The detached rear residence is an impressive 3-bedroom, 3.5-bath townhome positioned above extensive garage and parking space. Enjoy sweeping whitewater ocean and Mission Bay Channel views, sunsets, passing boats and coastal scenery from the upper residence. Additional features include solar, a powered vehicle gate, outdoor shower, multiple garages, carport and substantial off-street parking. Hold both residences as a premier coastal income property. Occupy one and lease the other. Create a private multigenerational beach compound. Or investigate the property’s previous conversion path and potential future individual disposition of the residences. Opportunities combining TWO DETACHED HOMES, significant parking, ocean views, substantial land and documented prior condominium-conversion approvals are exceptionally difficult to replicate this close to the Pacific Ocean. Buyer to verify all square footage, easements, zoning, permits, development rights, condominium-conversion status, subdivision potential and separate-sale possibilities with the City of San Diego and other applicable agencies.