2126 San Clemente Street, Point Loma, California 92107, Point Loma, 92107 - bed, bath
ACTIVE UNDER CONTRACT$1,100,000
2126 San Clemente Street, Point Loma, California 92107
0Bed
0Bath
968Sqft
6,729Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Development Opportunity: This property presents a rare and significant opportunity for a 4-unit condo development in a highly desirable area.
Top Cons:
Development Complexity & Cost: The project requires substantial capital investment, time, and management for demolition of the existing duplex and new construction of four condo units.
Compared to the nearby listings
Price:$1.10M vs avg $1.60M ($-500,000)20%
Size:968 sqft vs avg 2,112 sqft20%
Price/sqft:$1.1K vs avg $92860%
More Insights
Built in 1950 (75 years old).
Condition: The property, built in 1950, is described as an 'unoccupied 1950's duplex' and is being marketed as a '4 unit condo development opportunity.' The provided images of the existing structure show it in a severe state of disrepair, with exterior siding removed, exposed framing, and debris, indicating it is unlivable and likely beyond repair. The value is clearly in the land and the approved development plans, not the current structure.
Year Built
1950
Close
-
List price
$1.1M
Original List price
$1.1M
Price/Sqft
$1,136
HOA
-
Days on market
-
Sold On
-
MLS number
NDP2210593
Home ConditionTear down
Features
Good View:
View-
About this home
This property is a 4 unit condo development opportunity in the heart of Pt Loma! Currently an unoccupied 1950's duplex sits on the property. Architectural and engineering plans have been submitted to the city with comments returned to the engineer after the first plan check. The submitted plans are for four spacious condominiums ranging from 1,624 square feet to 2,052 square feet each including 4 and 5 bedrooms (4 bath) units. The current layout embraces a student housing concept that has worked well for the seller. The interior design can currently be reworked to accommodate the buyers own concept for the layout of each unit. All architectural and engineering plans transfer to buyer at close of escrow. This is a rare opportunity. Call broker for further details.
Condition Rating
Tear down
The property, built in 1950, is described as an 'unoccupied 1950's duplex' and is being marketed as a '4 unit condo development opportunity.' The provided images of the existing structure show it in a severe state of disrepair, with exterior siding removed, exposed framing, and debris, indicating it is unlivable and likely beyond repair. The value is clearly in the land and the approved development plans, not the current structure.
Pros & Cons
Pros
Development Opportunity: This property presents a rare and significant opportunity for a 4-unit condo development in a highly desirable area.
Prime Location: Situated in the heart of Point Loma, the location offers strong market appeal and potential for high demand for future condo units.
Advanced Planning Stage: Architectural and engineering plans for four spacious condos have already been submitted to the city and reviewed, significantly reducing initial development time and risk.
Design Flexibility: The interior design can be reworked to accommodate a buyer's own concept, allowing for customization beyond the current student housing layout.
Transferable Assets: All existing architectural and engineering plans transfer to the buyer at close of escrow, saving considerable time and expense in the planning phase.
Cons
Development Complexity & Cost: The project requires substantial capital investment, time, and management for demolition of the existing duplex and new construction of four condo units.
Pending Plan Revisions: Plans have received comments from the city after the first plan check, indicating further revisions and resubmission will be required before final approval.
Existing Structure Condition: The property currently features an unoccupied 1950s duplex, which will likely require demolition, incurring additional costs and potential environmental considerations.