Bid Deadline: November 20 by 5:00 p.m. (PT)
This site, located in San Ysidro, is an excellent opportunity for a non-profit, tribal group, developer or private investor to execute the prior ownership’s business plan, with a possibility of utilizing California state agency grant program funding.
Originally awarded a $24M grant, a qualified buyer may be able to access the remaining funds originally granted to this project for CapEx improvements/ renovations and operating funds for onsite services.
Pre-qualification of potential buyers for this site and these grant funds will be determined by a state agency. The purpose of the associated state grant is to provide housing and caregiving support to older adults with disabilities experiencing, or at risk of experiencing, homelessness.
The property currently consists of four, two-story buildings built in 1975 and renovated in 2004, with 71 units and surface parking spaces. Previous ownership intended on converting the property to a permanent affordable supportive housing project. It planned on a total net rentable project of 18,000± SF consisting of 70 studio units and a one-bedroom manager’s unit.
Hilco Real Estate CA, Inc. License ID 02104676.