691 G Street, Chula Vista, California 91910, Chula Vista, - bed, bath

home-pic
ACTIVE$1,600,000
691 G Street, Chula Vista, California 91910
0Bed
0Bath
2,044Sqft
24,114Lot
Year Built
2000
Close
-
List price
$1.6M
Original List price
$1.6M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
PTP2508134
Home ConditionFair
Features
View-

About this home

Exceptional investment and development opportunity in the heart of Chula Vista! This centrally located property sits on a generous 24,114 sq. ft. lot and currently features a duplex with a 3-bedroom, 1-bath front unit and a 1-bedroom, 1-bath back unit, totaling 2,044 sq. ft. of living space. The property is in the process for approved for 48 residential units. Construction initiation is anticipated within the next 3–4 months, making this an ideal project for developers looking to capitalize on one of the fastest-growing areas in San Diego County. Currently zoned R-3 and fully re-designated for higher density, the site offers maximum flexibility and significant upside potential. Investors can benefit from current rental income while finalizing plans and preparing for the build. The prime central location ensures excellent connectivity to freeways, shopping, dining, schools, and public transit. Whether you’re looking to develop a high-yield multifamily project or hold a large piece of Chula Vista’s urban core, 691 G Street offers the recombination of immediate income and long-term growth potential. Financing is available, allowing you to secure the property now and proceed toward groundbreaking with entitlements in place. Don’t miss this chance to own and develop a premier property in one of Southern California’s most desirable markets.

Price History

Date
Event
Price
10/28/25
Listing
$1,600,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (10 Listings)
Beds00
Baths00
Square foot2,0441,612
73%
Lot Size24,1146,547
91%
Price$1.6M$890K
91%
Price per square foot$783$552
91%
Built year20001953
91%
HOA
Days on market9107
9%
Condition Rating
Fair

The property was built in 2000, making it 24 years old. While the kitchen features white shaker-style cabinets and a stainless steel refrigerator, suggesting some updates, the countertops appear basic, and the flooring is a simple laminate/vinyl plank. The living areas show older hardwood floors and a functional but dated ceiling fan. The overall impression is that the property is maintained and functional for its age, but has not undergone a recent, extensive renovation. It aligns with the 'Fair' category, indicating it's aged but maintained through regular upkeep and occasional updates, with major components functional but showing signs of being outdated. The listing's emphasis on development potential further suggests the existing structure is not the primary value driver and likely hasn't received high-end modernizations.
Pros & Cons

Pros

High-Density Development Approval: The property is approved for 48 residential units with entitlements in place, significantly streamlining the development process and reducing regulatory hurdles.
Prime Central Location: Situated in the heart of Chula Vista, offering excellent connectivity to freeways, shopping, dining, schools, and public transit, within a rapidly growing San Diego County market.
Substantial Lot Size: A generous 24,114 sq. ft. lot provides ample space for the approved high-density multifamily development, maximizing project scope.
Interim Rental Income: The existing duplex generates rental income, providing immediate cash flow and offsetting holding costs during the pre-construction and planning phases.
Available Financing: Financing options are available, potentially easing the acquisition process and initial capital requirements for developers.

Cons

Significant Development Capital & Risk: Undertaking a 48-unit development requires substantial capital investment and carries inherent risks associated with construction, market fluctuations, and potential delays.
Existing Structure Utility/Demolition Cost: While providing interim income, the existing duplex will likely need to be demolished to facilitate the approved development, incurring additional costs and potentially limiting its long-term utility.
Market Timing & Absorption: The success of a large-scale 48-unit project is highly dependent on favorable market conditions for absorption and pricing upon completion, which can fluctuate over the multi-year development cycle.

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