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220 Southlook Avenue, San Diego, California 92113, San Diego, 92113 - 3 bed, 2 bath

220 Southlook Avenue, San Diego, California 92113 home-pic-0
ACTIVE$1,250,000$1,388/sqft
Est. Value: $1,205,572
-3%
AboveEstimate
220 Southlook Avenue, San Diego, California 92113
3Beds
2Baths
1,388Sqft
6,098.4Lot

Price Vs. Estimate

The estimated value ($1,205,572.305) is $44,427.695 (3%) lower than the list price ($1,250,000). This property may be overpriced.

Key pros and cons

Top Pros:
Shovel-Ready Development Opportunity: The property comes with fully approved plans, paid city fees, and all necessary documentation to immediately commence construction of four additional 2-bedroom, 1-bath units, significantly de-risking and accelerating the development process.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6098, other record lot size in square feet = 6272.

Compared to the nearby listings

Price:$1.25M vs avg $675.0K (+$575,000)98%
Size:1,388 sqft vs avg 1,092 sqft74%
Price/sqft:$901 vs avg $57192%

More Insights

Built in 2023 (3 years old).
Condition: The property was built in 2023 and has undergone a comprehensive, full remodel. All major components, including the kitchen (new cabinets, countertops, stainless steel appliances), bathrooms (new vanities, fixtures, subway tile), LVP flooring, electrical, roof, windows, and tankless water heater, are brand new or virtually new, meeting current quality standards with no deferred maintenance.
Year Built
2023
Close
-
List price
$1.25M
Original List price
$1.25M
Price/Sqft
$901
HOA
-
Days on market
-
Sold On
-
MLS number
PTP2600263
Home ConditionExcellent
Features
ViewNeighborhood

About this home

This property is more than a home—it’s a massive development opportunity. Already fully remodeled, the existing 3-bedroom, 2-bath detached home is currently rented, generating income. But the real value lies in the approved plans to build four additional 2-bedroom, 1-bath units—all city approvals are complete, fees paid, and the sale comes with everything you need to start construction immediately. It’s truly shovel-ready. Upgrades to the existing home include a new roof, upgraded electrical panel and meters, brand-new kitchen cabinets and bathroom vanities, new countertops, LVP flooring, updated doors, fresh interior/exterior paint, retrofit windows, new light fixtures and ceiling fans, new tankless water heater, and more. The exterior has been refreshed with new stucco, gates, landscaping, and exterior lighting. Located in Logan Heights, one of San Diego’s most historic and culturally rich neighborhoods, the property is just minutes from the Gaslamp Quarter, East Village, Petco Park, and all that downtown San Diego has to offer. This is a rare opportunity to own a fully renovated income property with immediate expansion potential—all approvals in place, all fees paid, and all plans included. Construction can start tomorrow.

R
Richard Montano
Listing Agent

Nearby schools

3/10
Emerson/Bandini Elementary School
Public,•K-6•0.7mi
3/10
Memorial Scholars & Athletes School
Public,•6-8•1.1mi

Price History

Date
Event
Price
04/25/25
Sold
$835,000
08/13/24
Sold
$585,000
Condition Rating
Excellent
The property was built in 2023 and has undergone a comprehensive, full remodel. All major components, including the kitchen (new cabinets, countertops, stainless steel appliances), bathrooms (new vanities, fixtures, subway tile), LVP flooring, electrical, roof, windows, and tankless water heater, are brand new or virtually new, meeting current quality standards with no deferred maintenance.
Pros & Cons

Pros

Shovel-Ready Development Opportunity: The property comes with fully approved plans, paid city fees, and all necessary documentation to immediately commence construction of four additional 2-bedroom, 1-bath units, significantly de-risking and accelerating the development process.
Immediate Income Generation: The existing 3-bedroom, 2-bath detached home is fully remodeled and currently rented, providing instant cash flow and a stable foundation for the investment.
Extensive Recent Renovation: The current home has undergone a comprehensive, high-quality remodel including a new roof, upgraded electrical, new kitchen/bath, LVP flooring, retrofit windows, and tankless water heater, minimizing immediate maintenance and capital expenditures.
Prime Urban Location: Located in Logan Heights, the property offers excellent proximity to downtown San Diego's major attractions such as the Gaslamp Quarter, East Village, and Petco Park, enhancing rental demand and long-term appreciation potential.
High-Density Potential: The approved plans to add four units maximize the property's income potential and capitalize on the strong demand for housing in the San Diego market.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6098, other record lot size in square feet = 6272.
Recently Sold Property: The property was recently sold within the past year on 2025-04-25. The sold price is $835,000.00.
Substantial Additional Capital Required: While development plans are approved and fees paid, the actual construction of the four new units will necessitate a significant financial investment beyond the initial purchase price.
Potential for Construction Impact: The active development of four new units will involve a period of construction, which could lead to noise, disruption, and temporary inconvenience for the existing tenant and immediate neighbors.
Average Local School Ratings: The elementary and middle schools serving the area have a rating of 3, which might be a consideration for some prospective tenants or future buyers prioritizing higher-rated educational institutions.
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