1240 Golden Gate Dr., San Diego, California 92116, San Diego, 92116 - 3 bed, 2 bath
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1240 Golden Gate Dr.
San Diego, California 92116
ACTIVE
CONDITION: POOR
3Beds
2Baths
1,508Sq Ft
4,707Lot Size
Property Price
LIST PRICE$1,495,000
EST. MARKET VALUE
$1,378,724
8% AboveMARKET VALUE
SUMMARY
This 1930s residence represents a High-Potential Investment Opportunity, listed at a List Price of $1,495,000—positioned well above the $1,378,724 Fair Market Value by 8%. While the property requires significant capital expenditure due to its Condition Rating of 5, it retains rare architectural integrity. Located in University Heights near the highly-rated Birney Elementary, the home offers a unique canvas for restoration. This asset is best suited for Value-Add Investors or Owner-Occupants seeking a historic project with long-term appreciation potential in a prime metro location.
Estimated Market Value
$1,378,724
Based on Realkey algorithm analyzing recent comparable sales in San Diego.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1930 with 'original character intact,' this property lacks modern updates. The bathroom features extremely dated tiling and fixtures, hardwood floors show significant wear and staining, and the original wood windows and likely aged systems (HVAC/Electric) indicate the home needs a comprehensive rehab to meet current standards.
PROSSTRENGTHS & OPPORTUNITIES
- Historic Architectural Character
This 1930s 'American Treasure' retains its original vintage charm with coved ceilings, authentic sconces, Spanish roof tiles, and original hardwood inlays, offering rare aesthetic integrity.
- Prime University Heights Location
Situated in a highly walkable and historic pocket of Metro San Diego, the property is in close proximity to the iconic Trolley Barn Park and Mission Cliff Gardens.
- Excellent School Proximity
The home is located just 0.5 miles from Birney Elementary, a highly-rated (8/10) school, providing significant value for families prioritizing education.
CONSRISKS & DEFICIENCIES
- Potential Modernization Requirements
With 'original character intact' from 1930, the property likely requires updates to major systems like electrical, plumbing, or HVAC to meet modern efficiency and comfort standards.
- Market Pricing Sensitivity
A recent price reduction from the original $1.555M suggests the initial valuation was aggressive relative to the 1,508 square footage and current market demand.
About 1240 Golden Gate Dr.
Built in an era of distinctive architectural design, this 1930s jewel takes you back in time with the original character fully intact. Impressive curb appeal welcomes you into a grand living room and formal dining room, featuring coved ceilings, original hardwood floors, original built-ins, and original inlays. A classic fireplace, canvas awnings, authentic sconces, and Spanish roof tiles complete this rare, timeless offering. Enjoy private outdoor space, plus a 2-car garage.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1930
- Lot Size
- 4,707 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
Birney Elementary School
Grades K-5 • 0.5 mi
8/10
Garfield Elementary School
Grades K-5 • 1.0 mi
8/10
Florence Elementary School
Grades K-5 • 1.1 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.3 |
| Baths | 2.0 | 2.3 |
| Square foot | 1,508 | 1,777.941 |
| Lot Size | 4,707 | 6,474.445 |
| Price | $1.50M | $1.27M |
| Price per sq ft | $991 | $741 |
| Built year | 1930 | 1971 |
| HOA | $0 | $184 |
| Days on market | 11 | 40 |
Pricing History
Price Change
Aug 29, 2026
$1,555,000
Initial Listing
Listed for Sale
Aug 29, 2026
$1,495,000
Initial Listing