, San Diego, California 92122, San Diego, 92122 - 4 bed, 2 bath
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San Diego, California 92122
This Development-Ready Residential Asset presents a unique opportunity in University City, listed at $1,699,000 against a $1,606,636 Fair Market Value. While currently holding a Condition Rating of 4 due to its previous use as a nursery school, the value-add potential is immense. The expansive 1-acre lot allows for subdivision into multiple units or an additional single-family home. Featuring a permitted ADU conversion and a private patio near top-tier amenities, this property is a high-utility acquisition for Real Estate Developers and Value-Add Investors seeking long-term ROI.
Property is moderate renovation needed.
Built in 1971, the property is well-maintained but shows signs of its age and previous use as a nursery school. While the kitchen has been updated with stone countertops and stainless steel appliances, and at least one bathroom features modern finishes, the overall interior requires cosmetic and layout transitions to feel like a traditional residence. Major systems like the HVAC (10 years old) and roof (7 years old) are functional but mid-life, and the garage conversion necessitates further work for standard residential utility.
The expansive nearly 1-acre lot offers rare subdivision possibilities in University City, providing a unique opportunity to split the lot or add multiple units and an additional single-family home.
Centrally located with excellent access to major freeways, shopping, and dining, this property combines urban convenience with the privacy of a large, secluded lot.
The garage has already been permitted and converted, offering a head start for a guest suite or ADU, complemented by a 7-year-old roof and 10-year-old HVAC system.
Due to the garage conversion, the property currently lacks a traditional garage for vehicle storage, which may necessitate additional construction costs for buyers requiring covered parking.
Having previously functioned as a nursery school, the interior may require significant cosmetic or structural updates to transition the layout back to a traditional residential feel.
Price improvement! LOCATION, LOCATION & LAND! Almost 1 acre where lot can be split into lots. Potential multiple units and another single family home. Garage has been converted and permitted. Previously a nursery school. Conversion would make a great ADU. Ideal area on side of home to put a garage. Plenty of room for parking RVs, boats and all your toys. HVAC 10 yrs old & roof 7 years old.If you like privacy and endless opportunities with the large lot, this 4 bd/2ba home may be for you! Centrally located to freeways, shopping and restaurants in University City!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 2.0 | 3.0 | 41% |
| Square foot | 2,050 | 1,920 | 61% |
| Lot Size | 41,800 | 7,150 | 94% |
| Price | $1.40M | $1.61M | 30% |
| Price per sq ft | $683 | $860 | 13% |
| Built year | 1971 | 1970 | 59% |
| HOA | $0 | $0 | 50% |
| Days on market | 106 | 113 | 46% |
Feb 3, 2026
$1,699,000
$1,749,000
-3% Price Drop
Initial Listing
Jan 6, 2026
$1,749,000
Initial Listing