IRR San Diego has completed a commercial appraisal of a multifamily property located in North Park community of San Diego. The property is an existing apartment building containing 10 dwelling units. Built in 1967 and totaling 7,050 square feet of rentable area, the property is 100% leased as of the effective appraisal date. The building is located on a 0.16 acre site. As with many older projects in San Diego, the property is determined to be legally nonconforming with respect to current zoning regulations, including street frontage, density, floor area ratio, and parking. The purpose of this commercial valuation was for loan underwriting purposes for a lender.
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