
San Diego, California 92101
This Spanish Revival fourplex represents a Prime Investment Opportunity, listed at $2,499,900—positioned well below the $2,553,641 Fair Market Value by 2%. This valuation gap offers $53,741 in Instant Equity. With a Good Condition Rating, the property features modern kitchen updates and private balconies with City and Coastline Views. Its Bankers Hill location ensures high rental demand, making this a versatile Buy-and-Hold Investor asset or a strategic choice for Owner-Occupants seeking a house-hack in a premier urban neighborhood.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2328 2nd Avenue Subject | $2,499,900* List Price | 6 | 4 | 3,250 | $786 | - |
A 2368 2nd Ave Active | $2,849,000 List Price | 5 | 3 | 3,482 | $818 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While the structure dates to 1924, the property has undergone significant recent renovations. Select units feature modern designer kitchens, engineered hardwood, and updated HVAC (mini-splits), which meet 'Excellent' criteria. However, because other units are 'preserved' in original/dated condition and the property is a blend of new and well-maintained older elements, it averages to 'Good' overall. The inclusion of a newer roof and high-quality exterior maintenance ensures it is move-in ready.
Situated in one of San Diego’s most walkable and prestigious neighborhoods, the property offers immediate proximity to Balboa Park, Little Italy, and top-tier urban amenities, ensuring high rental demand.
The fourplex configuration provides strong immediate cash flow with significant long-term potential for ADU addition or increased density on a lot that already supports a multi-unit model.
This 1924 Spanish Revival gem blends timeless historic charm with essential modern updates, including a newer roof, remodeled kitchens, and private balconies with ocean and city views.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 4.
Given the 1924 construction date, the property may necessitate specialized upkeep or future capital expenditures for aging infrastructure typical of century-old structures.
While offering off-street parking, the compact lot size in a high-density urban area may limit parking convenience for multiple tenants and restrict the footprint for significant outdoor expansions.
Introducing a rare opportunity to own a Spanish Revival fourplex in the highly desirable neighborhood of Bankers Hill. Set in one of San Diego’s most walkable and sought-after locations, 2328 2nd Ave offers timeless character, flexible living options, strong income potential, and future upside. The property features four beautiful units, including two upstairs 2-bedroom, 1-bath residences with private balconies and two downstairs 1-bedroom, 1-bath residences. The top unit captures beautiful ocean and city views, while the building itself showcases classic Spanish Revival charm throughout. Select units have been tastefully remodeled with engineered hardwood floors, modern fixtures, designer kitchens, and updated finishes. The remaining units have been preserved in great condition, offering original character and immediate rental appeal. Each unit also includes its own dedicated washer and dryer room, adding convenience and functionality for tenants or owner-users. Additional highlights include a newer roof, a spacious driveway with ample off-street parking, and a generous backyard with room to create inviting outdoor living spaces. The lot also presents exciting long-term potential for added density, ADUs, or future development opportunities. Located moments from Balboa Park, Little Italy, the airport, and some of San Diego’s best restaurants, bars, and neighborhood amenities, this property offers an exceptional blend of lifestyle and investment value. Whether you’re looking to live in one unit and rent the others, create a private family compound, or lease the entire property for strong cash flow, this rare Bankers Hill fourplex is a standout opportunity in a premier urban location.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 3.0 |
| Baths | 4.0 | 2.0 |
| Square foot | 3,250 | 1,777 |
| Lot Size | 5,131 | 6,600 |
| Price | $2.50M | $1.24M |
| Price per sq ft | $769 | $743 |
| Built year | 1924 | 1972 |
| HOA | $0 | $200 |
| Days on market | 16 | 39 |
Jul 6, 2026
$2,499,900
Initial Listing
Dec 2, 2022
$2,100,000
Public Record