
San Diego, California 92101
This Spanish Revival fourplex represents a Strong Value Opportunity, listed at $2,449,900—positioned well below the $2,581,206 Fair Market Value by 5%. This valuation gap offers $131,306 in Instant Equity. Featuring a Mint Condition Rating with high-end renovations and Ocean and City Views, this asset provides immediate rental appeal. The property’s zoning and lot size offer significant long-term upside. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a premium, income-producing Bankers Hill residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2328 2nd Avenue Subject 6 bd · 4 ba · 3,250 sqft · $754 | $2,399,900* List Price | 6 | 4 | 3,250 | $754 | - |
A 2368 2nd Ave Active 5 bd · 3 ba · 3,482 sqft · $767 · 0.0 mi | $2,669,000 List Price | 5 | 3 | 3,482 | $767 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1924, the property has undergone significant high-end renovations within the last 5 years. Photos show designer kitchens with modern flat-panel cabinetry and stainless steel appliances, engineered hardwood flooring, and updated fixtures. The listing notes a newer roof and visible mini-split HVAC systems, indicating the property is in mint condition with no immediate maintenance required.
Situated in the heart of Bankers Hill, the property offers exceptional walkability to Balboa Park, Little Italy, and downtown San Diego, ensuring high tenant demand and long-term appreciation.
The generous lot size and zoning provide significant upside through potential ADU additions or increased density, allowing a new owner to maximize the site's income-producing capacity.
This 1924 Spanish Revival fourplex blends historic charm with modern upgrades, including designer kitchens and private balconies with ocean views, appealing to high-end renters.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 4.
Built in 1924, the property may require more frequent maintenance and specialized repairs to preserve its historic integrity compared to newer multi-family developments.
With half of the building comprised of 1-bedroom units, the property may face limitations in rental growth compared to larger multi-bedroom residences in the competitive San Diego market.
A rare Spanish Revival fourplex in the heart of Bankers Hill, 2328 2nd Ave combines timeless architectural character, an exceptional central location, and compelling long-term investment potential. The property consists of four residences: two spacious 2-bedroom, 1-bath units upstairs with private balconies and two 1-bedroom, 1-bath units downstairs. One of the upper residences enjoys beautiful ocean and city views, adding to the property’s unique appeal. Classic Spanish details are complemented by thoughtful updates throughout the building. Select units have been tastefully remodeled with engineered hardwood flooring, designer kitchens, modern fixtures, and updated finishes, while the remaining residences have been well maintained and retain their original charm. Each unit also benefits from its own dedicated washer and dryer room, providing added convenience for residents. Additional highlights include a newer roof, a large driveway with ample off-street parking, and a generous backyard offering excellent potential for outdoor living and entertaining. The property may also provide future upside through additional density, ADUs, or redevelopment possibilities, allowing a new owner to explore ways to further enhance the site. Positioned just moments from Balboa Park, Little Italy, Downtown, the airport, and many of San Diego’s best restaurants, cafés, and neighborhood destinations, the location offers an outstanding urban lifestyle with exceptional accessibility. Whether envisioned as an owner-occupied investment, multi-residence property, or fully leased income-producing asset, 2328 2nd Ave presents a unique opportunity to own a distinctive piece of Bankers Hill.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 3.2 |
| Baths | 4.0 | 2.2 |
| Square foot | 3,250 | 1,752.269 |
| Lot Size | 5,131 | 6,446.159 |
| Price | $2.40M | $1.27M |
| Price per sq ft | $738 | $736 |
| Built year | 1924 | 1971 |
| HOA | $0 | $186 |
| Days on market | 45 | 41 |
Sep 25, 2026
$2,399,900
$2,449,900
-2% Price Drop
Initial Listing
Sep 10, 2026
$2,449,900
Initial Listing
Dec 2, 2022
$2,100,000
Public Record