Homes for sale - 969 985 Gillespie Dr, Spring Valley, CA 91977

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Anna Dickinson

anna@annadickinson.com +1(949) 246-7653

$ 1,795,000

Est. payment | -/mo

1.99 Acres Lot

Save Virtual Tour

$ 1,795,000

Est. payment | -/mo

Save Virtual Tour

1.99 Acres Lot

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID NDP2506916

HOA Y/N No

Lot Size 1.990 Acres

Property Description

Presenting a prime infill development opportunity in the heart of Spring Valley, this ±1.99-acre site at 969–975 Gillespie Drive offers a rare chance for residential builders to capitalize on San Diego's growing housing demand. Zoned Village Residential (VR-15), the property supports a wide range of residential development options including single-family homes, duplexes, townhomes, ADUs (both attached and detached), and stacked multifamily units. Preliminary calculations from Lightfoot Planning Group (April 2025) project the potential for 36 to 45 units through the application of the City's Density Bonus Program. Strategically situated in a transit-oriented corridor, the property is within a 10-minute walk of two trolley stations and multiple bus lines, offering residents seamless connectivity to the greater San Diego region. The topography is generally level, with utilities on site including a fire hydrant at Gillespie and St. George. The area is already a vibrant residential hub, bordered by a middle school to the east, senior apartments to the south, and multiple multifamily complexes to the north—providing a strong foundation for community growth and integration. The property currently includes four existing structures—three of which are older rental homes providing interim income, and one that is vacant and likely a tear-down. This setup offers developers the advantage of cash flow during the entitlement process, making it an ideal land-banking opportunity. With strong rental demand in the area, immediate access to Highway 94, and close proximity to schools, transit, and essential services, this site offers the perfect blend of holding potential and long-term development upside. For builders targeting infill opportunities with scale, flexibility, and prime location, this asset is well-positioned in one of San Diego's most active and supply-constrained residential submarkets.

Location

State CA

County San Diego

Area 91977 - Spring Valley

Zoning Residential: Multi Family

Interior

Fireplace No

Exterior

Community Features Suburban

View Y/N Yes

View Neighborhood, Panoramic

Building

Lot Description Lot Over 40000 Sqft, Level, Value In Land

Others

Senior Community No

Tax ID 5840623700

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

Virtual Tour https://www.propertypanorama.com/instaview/crmls/NDP2506916

Listed by Jeff Kane Coldwell Banker West

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 246-7653

anna@annadickinson.com

Suite 100 25950 Acero, Mission Viejo, California, 92691, USA

969 985 Gillespie Dr Spring Valley, CA 91977