
San Diego, California 92111
This High-Potential Investment Opportunity is listed at $1,190,000, positioned above the $1,094,033 Fair Market Value. While priced for its future development potential, the property features a 2022 Remodel and Excellent Condition Rating. With RM-3-7 Zoning and Complete Communities FAR Tier 4 status, this asset allows for up to 25+ units. The inclusion of Paid-off Solar and Ocean Views enhances current rental appeal. This is a strategic acquisition for Buy-and-Hold Investors or Developers seeking long-term density growth in a transit-priority corridor.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2101 3 Drescher Street Subject 0 bd · 0 ba · 1,248 sqft · $877 | $1,190,000* List Price | 0 | 0 | 1,248 | $877 | - |
A 6337 Caminito Del Pastel Active 3 bd · 3 ba · 1,431 sqft · $697 · 0.5 mi | $997,700 List Price | 3 | 3 | 1,431 | $697 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property underwent a comprehensive remodel in 2022, including kitchens, bathrooms, flooring, and windows. Critical systems are nearly new, featuring 2022 mini-split HVAC and updated electrical, plus a 2024 plumbing retrofit and sewer lateral replacement, placing it well within the under-5-year renovation window for excellent condition.
Elementary School: Bay Park Elementary School (9/10).
Zoned RM-3-7 and located within the City's Sustainable Development Area and Complete Communities FAR Tier 4, this lot offers massive potential for up to 25+ units and a 4.0 FAR.
The property features fully remodeled units (2022) and retrofitted plumbing (2024), including mini-split HVAC and paid-off solar grandfathered on the highly favorable NEM 2.0 rate structure.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =9583, other record lot size in square feet = 9514.
The assigned middle school is located over 15 miles away and carries a lower rating, which may be a concern for families or long-term residential tenants.
The list price reflects the significant future development potential rather than the current square footage, which may result in a lower immediate cap rate for traditional buy-and-hold investors.
Rare Linda Vista duplex in a highly convenient location, offering remodeled, income-producing units today and exceptional development potential tomorrow. 2022: both 2BR/1BA units fully remodeled with updated kitchens and baths, new flooring, dual-pane windows, mini-split heating/AC (six heads total), instant electric water heaters and updated electrical. 2024: all plumbing retrofitted, including 4" ABS sewer lateral to the main. Paid-off solar grandfathered on SDG&E Net Energy Metering 2 with approx. 15+ years remaining, a valuable rate structure new solar no longer qualifies for, helping keep utility costs low. Sizable driveway for off-street parking, shared washer/dryer on site, and notable ocean views. Development upside: the approx. 9,514 sf lot is zoned RM-3-7 (base density approx. 9 units) and sits within the City's Sustainable Development Area, Transit Priority Area and Complete Communities Housing Solutions FAR Tier 4. Under the Housing Solutions program, qualifying projects that deed-restrict 40% of base units as affordable may build up to 4.0 FAR (roughly 38,000 sf of floor area), with height governed by FAR, no required parking near transit, and potential for 25+ units. Collect rent now, build later. All this, just a short stroll to the Linda Vista Plaza Shopping Center, nearly a mile to USD, minutes to Fashion Valley, Mission Valley and the I-8/163 corridors, and steps to the bus line. Buyer to verify zoning, density and development potential with the City of San Diego. Renderings are conceptual and not approved plans.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.9 mi
Grades K-5 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 3.9 |
| Baths | 0.0 | 3.1 |
| Square foot | 1,248 | 1,907.722 |
| Lot Size | 9,583.2 | 6,135.853 |
| Price | $1.19M | $1.09M |
| Price per sq ft | $954 | $597 |
| Built year | 1942 | 1971 |
| HOA | $0 | $365 |
| Days on market | 3 | 62 |
Oct 22, 2026
$1,190,000
Initial Listing
May 6, 2022
$820,000
Public Record
Feb 2, 2006
$451,500
Public Record
May 18, 2005
$445,000
Public Record