Adorable OB beach cottage three blocks from the beach on a hill with coastal views. Features that make this home stand out include its large entertaining deck with ocean views, ample parking and development potential. The property includes two recently constructed detached one car garages, each with driveway parking for two additional cars! Real hardwood floors. Bedrooms are light and airy. Separate washer dryer area., This home is a "Cloud Condo" that is a free standing home in virtually all aspects. It is one of 3 free standing homes on the lot, each with their own parcel number and exclusive use private yards. Per Chad Baker of LendUS, he has much experience with these and they are underwritten as a conforming single family residence with no condo surcharges. This home has certain other valuable advantages, too. It's ocean view is protected by a view easement prohibiting the neighboring home to the rear from restricting the ocean view or growing landscaping higher than 6 feet. Additionally, all remaining development square footage on the lot has been reserved to this home exclusively. The following is believed reliable, but not guaranteed and should be verified: The lot is approx 10,500 sq ft. The other homes on the lot are 4736 Santa Cruz, approx. 2,050 sq. ft and 4738 Santa Cruz, approx. 1,985 sq ft. The FAR (floor area ratio) is believed to be .75. Therefore, because all remaining FAR on the site is owned by this home, the gross developable square footage of this home appears to be 3,840 sq. ft. (10,500 site sq. ft x .75 FAR = 7,875. Less sq. ft. of existing 2 homes, 2,050 and 1,985 leave 3,840 potential square footage allocated to this home.) Copy of CC&R's showing these rights are attached in the Documents section of this listing.
Diane Sullivan DRE # 01409974 | Point Loma / Ocean Beach / San Diego
Pacific Real Estate Center | 1005 Rosecrans Street # 200, San Diego, CA 92107