2023 Market, San Diego, California 92102, San Diego, 92102 - 1 bed, 1 bath
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2023 Market
San Diego, California 92102
ACTIVE
CONDITION: EXCELLENT
1Beds
1Baths
352Sq Ft
845Lot Size
Property Price
LIST PRICE$524,900
EST. MARKET VALUE
$575,000
SUMMARY
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.
Estimated Market Value
$575,000
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 |
|---|---|---|---|---|---|---|
★ 2023 Market Subject 1 bd · 1 ba · 352 sqft · $1,634 | $524,900* List Price | 1 | 1 | 352 | $1,634 | - |
A 2585 J Street Sold 1 bd · 1 ba · 420 sqft · $1,667 · 0.4 mi | $699,999 | 1 | 1 | 420 | $1,667 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
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.
PROSSTRENGTHS & OPPORTUNITIES
- Financial Incentives
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.
- Prime Urban Location
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.
- Detached Privacy & Modern Upgrades
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.
CONSRISKS & DEFICIENCIES
- Extremely Limited Square Footage
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.
- High Price Per Square Foot
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.
About 2023 Market
Charming Detached Historic Cottage | No HOA | Mills Act Tax Savings Welcome to this charming, historically designated cottage in Sherman Heights. This stand-alone 1-bedroom, 1-bath home offers a rare alternative to condo living, with no shared walls, no HOA dues, and easy access to Downtown and some of San Diego's most popular destinations. Property Highlights: Remodeled Interior: Updated interior with mini-split heating and air conditioning, in-home washer and dryer, new dishwasher, included appliances, and a HALO whole-home water filtration system. Private Outdoor Space: Enjoy your own private back patio, perfect for relaxing, dining, or entertaining. Mills Act: An active Mills Act agreement has provided historically lower property taxes while helping preserve the home's historic character. No HOA: Enjoy the privacy of a detached home without any HOA dues, or condo fees. Great Location: Approximately one mile from Downtown, 1.8 miles from Balboa Park, and 1.5 miles from Seaport Village and the Coronado Ferry, with convenient access to freeways, public transportation, dining, and more. Investment Potential: A unique opportunity for a primary residence or investment property, or Short Term Rental – new owner to get proper licensing.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1920
- Lot Size
- 845 Sq. Ft.
Interior
- Total Bedrooms
- 1
- 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
Sherman Elementary School
Grades K-5 • 0.2 mi
5/10
Kimbrough Elementary School
Grades K-5 • 0.7 mi
3/10
Burbank Elementary School
Grades K-5 • 0.8 mi
3/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 1.0 | 3.2 |
| Baths | 1.0 | 2.2 |
| Square foot | 352 | 1,752.269 |
| Lot Size | 845 | 6,446.159 |
| Price | $524.9K | $1.27M |
| Price per sq ft | $1.5K | $736 |
| Built year | 1920 | 1971 |
| HOA | $0 | $186 |
| Days on market | 59 | 41 |
Pricing History
Listed for Sale
Oct 6, 2026
$524,900
$560,000
-6% Price Drop
Initial Listing
Price Change
Sep 16, 2026
$560,000
$575,000
-3% Price Drop
Initial Listing
Price Change
Aug 27, 2026
$575,000
Initial Listing
Sold
Aug 28, 2019
$377,000
Public Record
Sold
Aug 22, 2017
$300,000
Public Record
Sold
Feb 9, 2017
$525,000
Public Record