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7170 Saranac St - Saranac Ridge 1.91 Acres of Residential Land Offered at $3,000,000 in La Mesa, CA 91942
Investment Highlights
- Ideal For-Sale Housing Development Site or Apartment Development Site
- Excellent Freeway Access
- Major Multi-Billion Dollar Employment Hubs Within Close Proximity
- Second Largest Land Site for Sale in La Mesa
- Transit Oriented Location
- Strong Rental Market Catering to Suburban Families and Young Professionals
Executive Summary
CBRE is pleased to present the opportunity to acquire Saranac Ridge, nearly two acres of residentially zoned land composed of a 72,759 SF vacant lot and a 10,454 SF lot covered with a single family home. The property is located on Saranac Street in the San Diego County submarket of La Mesa, nearby to SDSU and located just off the trolley line.
The City of La Mesa is a leading housing submarket of San Diego County located just to the east of Mission Valley, one of San Diego’s major employment hubs. Benefiting from its strategic location, Saranac Ridge is only a few minutes west of the historical La Mesa Village and is a ten-minute walk from the 70th Street Trolley Station. Additionally, the property is approximately two miles from Sharp Grossmont Medical Center, the largest medical complex in east San Diego County, employing 2,700 people. San Diego State University, with 37,500 students and 6,500 employees, is also located just 1.5 miles west of Saranac Ridge and is directly accessible from Interstate 8. The property’s location is both convenient to local amenities and yet still very residential in feel, helping attract a tenant profile of young professionals and families.
Saranac Ridge boasts an attractive 83,213 square feet of developable land, making it one of the largest land offerings in La Mesa. Zoned RM-3, the base density allows for 18-23 units to the acre, however, various density bonuses offered in section 24.05.025 D of the La Mesa Municipal Code along with California state affordable housing bonuses, provide options for increased density at the site.
The City of La Mesa is a leading housing submarket of San Diego County located just to the east of Mission Valley, one of San Diego’s major employment hubs. Benefiting from its strategic location, Saranac Ridge is only a few minutes west of the historical La Mesa Village and is a ten-minute walk from the 70th Street Trolley Station. Additionally, the property is approximately two miles from Sharp Grossmont Medical Center, the largest medical complex in east San Diego County, employing 2,700 people. San Diego State University, with 37,500 students and 6,500 employees, is also located just 1.5 miles west of Saranac Ridge and is directly accessible from Interstate 8. The property’s location is both convenient to local amenities and yet still very residential in feel, helping attract a tenant profile of young professionals and families.
Saranac Ridge boasts an attractive 83,213 square feet of developable land, making it one of the largest land offerings in La Mesa. Zoned RM-3, the base density allows for 18-23 units to the acre, however, various density bonuses offered in section 24.05.025 D of the La Mesa Municipal Code along with California state affordable housing bonuses, provide options for increased density at the site.
Property Facts
| Price | $3,000,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| Sale Condition | Redevelopment Project | Total Lot Size | 1.91 AC |
| No. Lots | 1 | ||
| Zoning | R3 Multiple - RM-3; 1 DU per 2,420 SF of land | ||
| Price | $3,000,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 1.91 AC |
| Zoning | R3 Multiple - RM-3; 1 DU per 2,420 SF of land |
1 Lot Available
Lot
| Price | $3,000,000 | Lot Size | 1.91 AC |
| Price Per AC | $1,570,427.39 |
| Price | $3,000,000 |
| Price Per AC | $1,570,427.39 |
| Lot Size | 1.91 AC |
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7170 Saranac St - Saranac Ridge
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