
San Diego, California 92102
This High-Potential Investment Opportunity is a unique Single Family Residence listed at $575,000—positioned well below the $597,061 Fair Market Value by 3%. This valuation gap offers $22,061 in Instant Equity. Featuring a Mint Condition Rating with modern upgrades like a HALO water system and mini-split HVAC, this historic Sherman Heights cottage offers a rare, detached lifestyle with no HOA fees. It is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a turnkey, historic urban home.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2023 Market Subject | $575,000* List Price | 1 | 1 | 352 | $1,696 | - |
A 2585 J Street Sold | $699,999 | 1 | 1 | 420 | $1,667 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1920, the property shows evidence of a comprehensive renovation within the last 5 years. It features modern stainless steel appliances, recessed lighting, updated flooring, a newer mini-split HVAC system, and a whole-home water filtration system, placing it in mint, move-in condition.
The property benefits from an existing Mills Act agreement, providing significantly lower property taxes, and carries no monthly HOA dues, offering a distinct financial advantage over nearby downtown condos.
Situated in historic Sherman Heights, the home is just one mile from Downtown San Diego and within minutes of Balboa Park, Seaport Village, and the San Diego International Airport.
This unique standalone cottage offers total privacy with no shared walls and is equipped with modern essentials including air conditioning, in-home laundry, and a HALO whole-home water filtration system.
At only 352 square feet, the living space is exceptionally small, which significantly limits the buyer pool and may not accommodate most standard furniture or storage needs.
The list price of $575,000 reflects a very high price per square foot, which could pose challenges for traditional financing appraisals and value-conscious investors.
There are homes you buy for square footage, and there are homes you buy because there is simply nothing else quite like them. This charming blue cottage in historic Sherman Heights offers character, independence, and the rare opportunity to own a detached home just one mile from Downtown San Diego. With 1 bedroom and 1 bathroom, this home is for the buyer who values simplicity, location, and personality—and prefers the privacy and individuality of a historic cottage over another unit in a high-rise. Historic character meets everyday comfort with air conditioning, an in-home washer and dryer, and a HALO whole-home water filtration system. The property also benefits from an existing Mills Act agreement, which has provided historically lower property taxes while supporting the preservation of the home's architectural character. And for buyers comparing this home to a condo: there are no HOA dues. The location puts some of San Diego's best-known destinations remarkably close to home. Downtown is approximately one mile away. Balboa Park is 1.8 miles away. Seaport Village and the Coronado Ferry are approximately 1.5 miles away. San Diego International Airport is approximately four miles away, and Liberty Station is approximately six. A trolley station is roughly 0.7 miles away, bus stops are within a couple of blocks, and neighborhood restaurants and taco shops are within walking distance. Even closer, the neighborhood community center is just a five-minute walk away. Morning in Balboa Park. Dinner Downtown. An afternoon across the bay in Coronado. A quick trip to the airport when it's time to get away. So much of San Diego is within easy reach. This cottage presents a compelling alternative to condo living: no shared walls, no HOA dues, historic character, and a front door entirely your own. One bedroom. One bath. One very cool little piece of San Diego history.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.7 mi
Grades K-5 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 1.0 | 3.3 |
| Baths | 1.0 | 2.3 |
| Square foot | 352 | 1,777.941 |
| Lot Size | 845 | 6,474.445 |
| Price | $575.0K | $1.27M |
| Price per sq ft | $1.6K | $741 |
| Built year | 1920 | 1971 |
| HOA | $0 | $184 |
| Days on market | 13 | 40 |
Aug 27, 2026
$575,000
Initial Listing
Aug 28, 2019
$377,000
Public Record
Aug 22, 2017
$300,000
Public Record
Feb 9, 2017
$525,000
Public Record