Property Description

The subject property is located one block from the beach on the southeast corner of Walnut Avenue and Garfield Street in Carlsbad, California. Carlsbad is an affluent seaside resort city occupying a 7-mile (11 km) stretch of Pacific coastline in North San Diego County, California. The city is located 87 miles south of Los Angeles and 35 miles north of downtown San Diego and is part of the San Diego-Carlsbad, CA Metropolitan Statistical Area. Referred to as "The Village by the Sea" by locals, the city is a tourist destination. The city's estimated 2013 population is 110,972. The property is comprised of three separate legal parcels of land containing an overall area of 0.79 acres. The property is zoned R-3, Beach Overlay Zone, RH, Residential High Density, 15-23 dwelling units per acre, which permits multifamily uses. The property has tentative map entitlements for a 14-unit condominium development. Final engineering has been completed and the map is now ready to record. Construction on the site will begin soon and the units will be available for sale in approximately (18) months.