
San Diego, California 92113
This detached duplex in Shelltown represents a Strong Value Opportunity, listed at $765,000—positioned well below the $813,210 Fair Market Value by 5%. This valuation gap provides $48,210 in Instant Equity. With a Condition Rating of 4, the property offers significant rental upside through modernization. The CN-1-3 Zoning allows for potential density expansion, while the panoramic skyline and ocean views enhance long-term appeal. This asset is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers seeking a strategic, transit-oriented multifamily project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1525 27 S 42nd Street Subject | $765,000* List Price | 0 | 0 | 1,254 | $648 | - |
A 818 820 San Pasqual Street Sold | $630,000 | 2 | 2 | 880 | $716 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1940 and marketed as a 'value-add' opportunity, the property is functional but dated. The age and description suggest older systems and interiors that require modernization to achieve market rents, though it remains livable and income-producing.
Current rents are positioned well below market value, offering a clear value-add opportunity for investors to increase cash flow through strategic rent growth.
The CN-1-3 zoning on a nearly 6,000 SF lot provides rare flexibility for a potential third unit or small-scale neighborhood commercial use, maximizing the site's density.
Situated less than five miles from Downtown San Diego with immediate access to I-5 and the Blue Line Trolley, the property is ideally located for high-demand commuter occupancy.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =5297, other record lot size in square feet = 5927.
Originally built in 1940, the property likely requires significant capital expenditure for modern upgrades and maintenance typical of a 'value-add' vintage asset.
The local school district ratings range from 2 to 5, which may limit the property's appeal to families and impact long-term residential tenant stability.
Detached two-unit duplex in San Diego's Shelltown neighborhood, offering a straightforward value-add opportunity for the right buyer. The property includes a 2 bedroom, 1 bath unit and a 1 bedroom, 1 bath unit on a 5,927 SF lot, zoned CN-1-3. Current income sits well below market rent, giving a new owner meaningful upside through rent growth alone, with no rezoning or redevelopment required. The site's zoning also suggests potential capacity for a third unit, subject to City verification of parking, setbacks, and other development standards, along with flexibility for small-scale, neighborhood-serving commercial use. Located less than five miles from Downtown San Diego, with easy access to I-5, the San Diego Trolley Blue Line, and the Route 929 bus. Detached two-unit product like this is increasingly hard to find in this corridor. A full video and photography marketing package, including additional photos, rent roll detail, and property information, is available for interested parties. Contact Ivan Del Muro-Garcia at 619.623.2132 or idmg@lee-associates.com for offering details, or to see what else is currently available in San Diego multifamily. Buyer to independently verify all information including square footage, zoning, year built, and development potential.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.3 mi
Grades K-5 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 3.4 |
| Baths | 0.0 | 3.0 |
| Square foot | 1,254 | 1,837.516 |
| Lot Size | 5,297 | 6,134.732 |
| Price | $765.0K | $1.07M |
| Price per sq ft | $610 | $623 |
| Built year | 1940 | 1975 |
| HOA | $0 | $365 |
| Days on market | 35 | 55 |
Aug 5, 2026
$765,000
Initial Listing
Jun 20, 2008
$190,000
Public Record