1224 27th, San Diego, California 92102, San Diego, 92102 - 2 bed, 1 bath
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1224 27th
San Diego, California 92102
ACTIVE
CONDITION: TEAR DOWN
2Beds
1Baths
984Sq Ft
0Lot Size
Property Price
LIST PRICE$860,000
EST. MARKET VALUE
$905,553
5% BelowMARKET VALUE
SUMMARY
This shovel-ready development site represents a Strong Value Opportunity, listed at $860,000—positioned well below the $905,553 Fair Market Value by 5%. This valuation gap offers $45,553 in Instant Equity for the buyer. Featuring a Condition Rating of 6 (cleared lot), the property includes stamped permits for two townhomes, offering panoramic skyline and bay views. This is an ideal acquisition for Savvy Investors or Owner-Occupants seeking a turnkey house-hack project in a prime, walkable Golden Hill location.
Estimated Market Value
$905,553+$45,553 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in San Diego.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1224 27th Subject 2 bd · 1 ba · 984 sqft · $920 | $860,000* List Price | 2 | 1 | 984 | $920 | - |
A 2834 L Street Active 2 bd · 1 ba · 970 sqft · $1,005 · 0.8 mi | $975,000 List Price | 2 | 1 | 970 | $1,005 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
Built in 1930, the property is being sold for land and development value with stamped permits to build new townhomes. The actual site images show a cleared lot/construction zone with no livable structure, kitchens, baths, or active systems.
PROSSTRENGTHS & OPPORTUNITIES
- Shovel-Ready Development
The property includes stamped permits for two 1,000 SF townhomes, allowing a buyer to bypass lengthy municipal approval processes and begin construction immediately.
- Prime Walkable Location
Situated within a 5-10 minute walk of Balboa Park and the vibrant Golden Hill dining scene, the location offers high desirability for future tenants and homeowners.
- Turnkey Investment Potential
With the option for seller-managed construction and a clear path to a dual-unit 'house hack,' this property offers a streamlined entry for investors or savvy owner-occupants.
CONSRISKS & DEFICIENCIES
- Underperforming Local Schools
The assigned elementary and middle schools have lower ratings (3/10 and 4/10), which may limit the property's appeal to families prioritizing high-performing school districts.
- High Capital Requirement
The $860,000 list price represents a significant premium over recent sales history, requiring substantial additional liquidity to fund the permitted construction project.
About 1224 27th
Who is looking for their own easy ADU project?! This is perfect for first time ADU builders, savvy investors, as well as buyers looking to build their own house hacked 2 unit to live in! The property will come with stamped permits to build TWO side by side ~1000 SF 2BR 2BA townhome style units, fully amenitized with washer/dryer in unit, AC, balconies and patio space, and parking on site! Location doesn't get better: 5-10 minute WALK to beautiful Balboa Park and some of the best restaurants in Golden Hill! Construction can even be lined up by the Seller for a turnkey experience - reach out to Florian for more info, plans, valuation etc (or agents click D in MLS). Take advantage of NOT having to wait for long permitting timelines, grab your tools and let the fun begin!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1930
- Lot Size
- -
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
San Diego Unified Schools
Kimbrough Elementary School
Grades K-5 • 0.7 mi
3/10
Golden Hill K-8
Grades K-8 • 0.8 mi
4/10
Memorial Scholars & Athletes School
Grades 6-8 • 1.5 mi
3/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.2 |
| Baths | 1.0 | 2.2 |
| Square foot | 984 | 1,752.269 |
| Lot Size | - | 6,446.159 |
| Price | $860.0K | $1.27M |
| Price per sq ft | $874 | $736 |
| Built year | 1930 | 1971 |
| HOA | $0 | $186 |
| Days on market | 79 | 41 |
Pricing History
Listed for Sale
Aug 7, 2026
$860,000
Initial Listing
Sold
Nov 5, 2024
$675,000
Public Record
Sold
Mar 13, 2024
$600,000
Public Record