As we outlined back in the fourth quarter of 2021:
Having been in and out of contract a handful of times over the past couple of years, a sale of the former used car lot turned Firepie site on the northeast corner of Valencia and Cesar Chavez, which is currently leased for $7,800 a month, is once again contingent having been relisted for $1.998 million two weeks ago.
And yes, plans for a six-story building to rise up to 65 feet in height on the skinny infill site, with 23 residential units over 5,000 square feet of ground floor commercial/retail space, have been drawn, which is the full height for which the 6,620-square-foot parcel is zoned, not accounting for any bonuses.
But once again, the infill plans as envisioned have yet to be approved, much less submitted to the City for a preliminary review. And in fact, plans to simply reorient the existing trailers on the site and legitimize the setup as a “limited restaurant” have been drafted. We’ll keep you posted and plugged-in.
Having failed to close escrow in 2021, the infill site has just returned to the market with a reduced list price of $1.75 million. Keep in mind that the site was briefly optioned by the Prado Group in 2020 but the market has changed. We’ll keep you posted and plugged-in.