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$ 1,200,000
Est. payment | /mo
5,179 Sqft Lot
$ 1,200,000
Est. payment | /mo
5,179 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID NDP2603053
HOA Y/N No
Year Built 1963
Lot Size 5,179 Sqft
Property Sub-Type Duplex
Property Description
CITY HEIGHTS DUPLEX | R-2 ZONED | IMMEDIATE INCOME + EXTRAORDINARY DEVELOPMENT UPSIDE Few opportunities arrive with this much aligned in your favor. A fully remodeled, income-producing R-2 zoned duplex on a 5,178 square foot lot, positioned in the heart of one of San Diego's most powerfully appreciating urban corridors, this is the kind of generational asset that sophisticated investors recognize immediately and move on decisively. City Heights is not emerging. It has emerged. The Mid-City submarket is experiencing a transformation that is redefining land values, reshaping the streetscape, and rewarding those who had the vision to act early. This property does not sit on the sidelines of that story. It sits at the center of it. Both units were comprehensively remodeled in 2022 to a standard that today's discerning residents expect and deserve. The upper level unfolds across approximately 950 square feet of beautifully appointed living space, offering 2 bedrooms, 1 bathroom, a sweeping open concept layout, custom quartz countertops, a stylish breakfast bar, stainless steel appliances, and the coveted convenience of in-unit laundry. The lower unit presents approximately 850 square feet of equally refined living, with 2 bedrooms, 1 bathroom, a private fenced yard that creates a genuine sense of arrival, and a dedicated laundry closet. Both residences feature individually fenced outdoor retreats and climate controlled comfort through wall and window air conditioning. These are not afterthought finishes. They are the details that attract quality long term residents and keep them. The leases in place and the income figures speak for themselves. The investment opportunity extends well beyond today's cash flow. The R-2 designation, layered with the City of San Diego's landmark ADU ordinance and its aggressive multi-family densification framework, transforms this lot into a genuine development platform. The paths forward are multiple and meaningful. Add accessory dwelling units and multiply your income streams. Maximize the allowable density envelope and reposition the asset for the next decade. The Mid-City Community Plan places this site squarely within the city's highest priority transit-oriented infill zones, which means policy, infrastructure, and capital are all moving in the same direction you are. The risk profile is equally compelling. Flood, fire, and wind exposure each score a remarkable 1 out of 10, supporting clean underwriting and favorable insurance economics. Hamilton Elementary, rated 8 out of 10, anchors the neighborhood's family appeal. Major freeways, thriving employment centers, and robust public transit connections are all within easy reach, fundamentals that sustain demand, validate comparable sales, and strengthen every exit strategy on your model. Whether you are a 1031 exchange buyer seeking a pristine capital preservation vehicle, a value-add investor ready to build on a turnkey foundation, or a developer strategically assembling a land position in one of Southern California's most supply-constrained and policy-favored urban infill markets, this is the opportunity that belongs at the top of your underwriting queue. Assets that unite immediate income, institutional quality finishes, zoning optionality, and locational irreplaceability at this price point are extraordinarily rare. When they appear, the window is brief. The numbers are exceptional. The upside is undeniable. The time to act is now.
Location
State CA
County San Diego
Area 92105 - East San Diego
Zoning R-2:MINOR MULTIPLE
Interior
Fireplace No
Appliance Dryer, Washer
Laundry Inside
Exterior
Pool None
Community Features Sidewalks
View Y/N No
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Sewer Other
Water See Remarks
New Construction No
Others
Senior Community No
Tax ID 4765603000
Acceptable Financing Cash, Conventional, FHA, Owner Will Carry, VA Loan
Listing Terms Cash, Conventional, FHA, Owner Will Carry, VA Loan
Special Listing Condition Standard
Virtual Tour https://www.propertypanorama.com/instaview/crmls/NDP2603053
Listed by Ava Khamooshi Rise Realty info@avakbroker.com, DRE #02061463
NEARBY SCHOOLS & PROPERTIES
5631 Palmer Way Suite K, Carlsbad, CA 92010, United States