
San Diego, California 92110
This Shovel-Ready Development Asset is listed at $1,450,000, representing a strategic acquisition in the Bay Park corridor. While the price exceeds the $1,354,208 Fair Market Value, the valuation accounts for the significant value-add of fully entitled, permit-ready plans for an 8-unit multifamily building. Boasting an Excellent Condition Rating for the existing home within the San Diego Unified School District, the site offers immediate income potential directly across from the University of San Diego. With panoramic water views, this is a premier opportunity for Multifamily Developers and Institutional Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1330 Goshen Street Subject | $1,450,000* List Price | 2 | 1 | 1,176 | $1,152 | - |
A 4993 February St Sold | $1,515,000 | 3 | 2 | 1,304 | $1,162 | 0.7 mi |
B 5011 Gardena Ave Sold | $1,525,000 | 4 | 3 | 1,600 | $953 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While the property was originally built in 1950, the interior has undergone an extensive recent renovation within the last few years. The home features brand-new luxury vinyl plank flooring throughout, fresh neutral paint, and recessed lighting. The kitchen is fully updated with modern white shaker cabinets, solid surface countertops, and stainless steel appliances. The bathroom has also been modernized with a new vanity and fixtures. Despite being marketed as a development site, the existing structure is in top-tier, move-in-ready condition.
The property is sold with fully approved, permit-ready plans for an 8-unit multifamily development, significantly reducing the risk and time-intensive entitlement process for investors.
Located directly across from the University of San Diego, the site offers a built-in and consistent rental demand from faculty, staff, and graduate students.
The approved three-story design is positioned to capture panoramic water views, allowing for premium rental rates and increased long-term asset valuation.
Beyond the $1.45M acquisition cost, the project requires significant additional capital for the demolition of the existing structure and the construction of a 7,030 SF complex.
Developing 8 units on a 5,140 SF corner lot may lead to tight construction staging and limited on-site amenities or parking, which could impact tenant lifestyle appeal.
Shovel-ready. Water views. Bay Park. This is the development opportunity San Diego investors have been waiting for. 1330 Goshen Street sits on a 5,140 SF corner lot in the heart of Bay Park — directly across from the University of San Diego — with fully approved, permit-ready plans for an 8-unit multifamily building (4 units + 4 ADUs | 7,030 SF total). The entitlement work is done. You are stepping into a fully approved project ready to break ground the day escrow closes. At three stories, the finished development will capture panoramic water views, positioning every unit as a premium rental in one of San Diego's most in-demand corridors. Corner lot exposure on Goshen & Ruby maximizes visibility and curb appeal. USD directly across the street means built-in, consistent rental demand from faculty, graduate students, and staff — year after year. Bay Park is centrally located between Mission Bay, Old Town, Fashion Valley, and direct freeway access to the 8 and 5 — a location that tenants and appraisers both love. The existing home is move-in ready if you need to occupy or generate income while financing comes together. But the value here is in the land and the approved plans sitting on top of it. Entitled. Permitted. Views. Corner. Bay Park. This one is ready to go.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 23% |
| Baths | 1.0 | 2.0 | 18% |
| Square foot | 1,176 | 1,644 | 23% |
| Lot Size | 5,140 | 6,250 | 38% |
| Price | $1.45M | $1.51M | 44% |
| Price per sq ft | $1.2K | $953 | 87% |
| Built year | 1950 | 1958 | 26% |
| HOA | $0 | $0 | 50% |
| Days on market | 13 | 99 | 8% |
Apr 9, 2026
$1,450,000
Initial Listing
Dec 23, 2024
$1,175,000
Public Record
Nov 30, 2022
$980,000
Public Record