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218 Elvado Way, San Diego, California 92114, San Diego, 92114 - 3 bed, 2 bath

218 Elvado Way, San Diego, California 92114 home-pic-0
ACTIVE$699,000
218 Elvado Way, San Diego, California 92114
3Beds
2Baths
1,631Sqft
6,600Lot

Price Vs. Estimate

The estimated value ($669,702.95) is $29,297.05 (4%) lower than the list price ($699,000). This property may be overpriced.

Key pros and cons

Top Pros:
ADU/Rental Income Potential: The converted garage offers significant potential for an Accessory Dwelling Unit (ADU) or rental income, providing a valuable opportunity for additional cash flow or multi-generational living.
Top Cons:
Requires Significant Personalization/Updates: The property is presented as a 'perfect canvas' and 'diamond in the rough,' indicating it will require substantial investment in time and money for personalization and updates to reach its full potential.

Compared to the nearby listings

Price:$699.0K vs avg $765.0K ($-66,000)18%
Size:1,631 sqft vs avg 1,475 sqft66%
Price/sqft:$429 vs avg $52918%

More Insights

Built in 1961 (64 years old).
Condition: Built in 1961, this property is explicitly described as a 'diamond in the rough' and a 'perfect canvas' requiring significant personalization and updates. The interior images reveal extremely dated design choices, including a 1980s/90s style tiled accent wall and a 1970s/80s raised, shaggy carpeted platform. The exterior shows deferred maintenance. The absence of kitchen and bathroom photos strongly suggests these critical areas are original or very outdated and would require substantial renovation. While livable, the property needs extensive rehabilitation to meet modern standards, aligning with the 'poor' condition criteria.
Year Built
1961
Close
-
List price
$699K
Original List price
$725K
Price/Sqft
$429
HOA
-
Days on market
-
Sold On
-
MLS number
250040209SD
Home ConditionPoor
Features
Good View: None
ViewNone

About this home

Come one, come all!! Bring your dreams to life. Discover this charming 3-bedroom, 2-bathroom home, a perfect canvas for first-time buyers, investors, and FHA/VA-approved borrowers to create their dream living space. This spacious property offers ample room for the entire family and has potential for additional income with the converted garage, which is ideal for an ADU or rental unit. Enjoy breathtaking city views from the backyard and plenty of space for parking an RV or other toys. This home is a diamond in the rough, offering endless possibilities to personalize and make it your own. Key Features: 3 bedrooms, 2 bathrooms Converted garage for ADU or rental income Stunning city views Ample parking for RV or toys FHA/VA-approved financing options available Ideal for first-time buyers and investors Don't miss out on this incredible opportunity to own a home with endless potential. Schedule a viewing today! Additional Selling Points: First-time buyers: This home offers a fantastic opportunity to enter the housing market and build equity. With enough space for the entire family, it's the perfect place to start your new life. Investors: The converted garage provides an excellent opportunity for additional rental income, making this a smart investment with great potential for returns. FHA/VA-approved borrowers: This home is eligible for FHA and VA financing, making it easier for qualified buyers to achieve their dream of homeownership. Room for personalization: This home offers plenty of space to customize and make it your own. Come and get your keys.

Nearby schools

5/10
Encanto Elementary School
Public,•K-5•0.8mi
4/10
Boone Elementary School
Public,•K-5•1.1mi
6/10
Freese Elementary School
Public,•K-5•1.2mi
4/10
Fulton K-8
Public,•K-8•0.3mi
4/10
Audubon K-8
Public,•K-8•1.1mi
7/10
Bethune K-8
Public,•K-8•1.1mi
4/10
Bell Middle School
Public,•6-8•1.4mi
6/10
Morse High School
Public,•9-12•0.3mi
4/10
Lincoln High School
Public,•9-12•2.5mi
Condition Rating
Poor
Built in 1961, this property is explicitly described as a 'diamond in the rough' and a 'perfect canvas' requiring significant personalization and updates. The interior images reveal extremely dated design choices, including a 1980s/90s style tiled accent wall and a 1970s/80s raised, shaggy carpeted platform. The exterior shows deferred maintenance. The absence of kitchen and bathroom photos strongly suggests these critical areas are original or very outdated and would require substantial renovation. While livable, the property needs extensive rehabilitation to meet modern standards, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

ADU/Rental Income Potential: The converted garage offers significant potential for an Accessory Dwelling Unit (ADU) or rental income, providing a valuable opportunity for additional cash flow or multi-generational living.
Stunning City Views: Enjoy breathtaking city views from the backyard, enhancing the property's appeal and offering a desirable lifestyle feature.
Ample Parking & RV Access: The property provides plenty of space for parking an RV or other recreational vehicles, addressing a common need for many homeowners.
FHA/VA Approved Financing: Eligible for FHA and VA financing, this property broadens the potential buyer pool, making it accessible to a wider range of qualified individuals.
Customization & Value-Add Opportunity: Described as a 'diamond in the rough' and a 'perfect canvas,' the home offers endless possibilities for personalization and value creation, appealing to buyers looking to build equity.

Cons

Requires Significant Personalization/Updates: The property is presented as a 'perfect canvas' and 'diamond in the rough,' indicating it will require substantial investment in time and money for personalization and updates to reach its full potential.
Older Construction (1961): Built in 1961, the home may have aging systems (e.g., plumbing, electrical, HVAC) and dated aesthetics that could necessitate costly repairs or upgrades in the near future.
Potential Overpricing (Based on AVM): The current list price of $699,000 is slightly above the automated valuation model (AVM) estimate of $678,595.71, suggesting it might be priced at the higher end for its current condition.

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