1021 Reed, San Diego, California 92109, San Diego, 92109 - 3 bed, 2 bath
1021 Reed
San Diego, California 92109
Property Price
SUMMARY
Analysis of 1021 Reed, San Diego, California 92109 reveals a property with a current list price of $1,999,000, which is 4% above the estimated $1,908,703 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the San Diego Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1021 Reed Subject | $1,999,000* List Price | 3 | 2 | 1,408 | $1,356 | - |
A 3627 Buena Vista Pending | $2,175,000 List Price | 4 | 3 | 1,576 | $1,380 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is extensive renovation needed.
Built in 1955 and largely in original condition, this property requires substantial rehabilitation and modernization. The listing explicitly targets investors and builders, noting the home is 'ready for renovation' and requires significant capital expenditure. While it retains some original features like hardwood floors and has added solar panels, the kitchen, bathrooms, and overall interior systems are dated and show significant wear consistent with a 70-year-old structure that has not undergone major recent updates.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Bird Rock Elementary School (10/10).
- Prime Coastal Location
Situated just two blocks from both the Pacific Ocean and Sail Bay, this property offers an exceptional lifestyle location in the heart of Pacific Beach, directly across from the local library.
- Significant Development Potential
The oversized 6,400 sqft lot with dual street frontage and alley access provides rare flexibility for builders and investors to explore redevelopment, expansion, or a high-end custom build.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6400, other record lot size in square feet = 6300. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 4.
- Extensive Renovation Required
The existing home is in original condition and requires significant capital expenditure for modernization and repairs to meet current market standards.
- High Entry Price for Condition
At a list price of nearly $2 million for a dated 1,400 sqft structure, the acquisition cost is high, which may tighten profit margins for speculative investors.
About 1021 Reed
Investors, builders, and visionary buyers rare opportunity on a 50’ x 128’ lot in the heart of Pacific Beach. Located just two blocks from the Pacific Ocean and two blocks from Sail Bay, this house sits on an approximately 6,400 sqft lot with streets on two sides in one of Pacific Beach’s most desirable neighborhoods. Opportunities with this lot width and positioning are increasingly hard to find. The existing 3-bedroom, 2-bath home offers approximately 1,400 sq ft of living space and is ready for renovation, presenting clear value-add potential. Whether you’re looking to remodel into your own coastal retreat, take on a fix-and-flip project, hold as a long-term rental, or explore redevelopment possibilities, this property provides flexibility and upside. This original Pacific Beach home retains charming details including hardwood floors and a fireplace in the rear bedroom, which features a slider opening to the spacious backyard. The generous yard offers ample space to entertain, expand, or design your ideal outdoor setting. Solar panels are already installed on the roof, adding energy efficiency and long-term savings. Additional highlights include a detached two-car garage with alley access and a prime location directly across from the Pacific Beach Library. Enjoy easy access to the beach, bay, local restaurants, shops, and the vibrant PB lifestyle. With its location, lot size, and potential, 1021 Reed Avenue represents a rare chance to create something special in one of San Diego’s most sought-after coastal communities.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1955
- Lot Size
- 6,400 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
San Diego Unified Schools
Crown Point Jr Music Academy
Grades K-5 • 0.6 mi
Pacific Beach Elementary School
Grades K-5 • 1.1 mi
Sessions Elementary School
Grades K-5 • 1.5 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 3.0 | 34% |
| Square foot | 1,408 | 2,006 | 30% |
| Lot Size | 6,400 | 4,000 | 76% |
| Price | $2.00M | $2.25M | 36% |
| Price per sq ft | $1.4K | $1.2K | 69% |
| Built year | 1955 | 1975 | 27% |
| HOA | $0 | $0 | 50% |
| Days on market | 11 | 157 | 6% |
Pricing History
Listed for Sale
Feb 24, 2026
$1,999,000
Initial Listing
Sold
Feb 25, 1997
$253,000
Public Record