
San Diego, California 92105
This Turnkey R-2 Zoned Duplex represents a High-Potential Investment Opportunity, listed at $1,200,000—positioned well below the $1,351,176 Fair Market Value by 11%. This valuation gap provides $151,176 in Instant Equity. Comprehensively remodeled in 2022, the asset features quartz countertops, stainless appliances, and private fenced patios, maintaining a Superior Condition Rating. With R-2 Zoning and San Diego’s ADU incentives, the property offers significant densification upside near the 8/10 rated Hamilton Elementary. It is an ideal acquisition for 1031 Exchange Investors or Owner-Occupants seeking a high-yield house-hack.
Property is new construction or fully renovated.
The property underwent a comprehensive renovation in 2022, placing it well within the 5-year window for extensive updates. The interiors feature modern kitchens with quartz countertops and stainless steel appliances, updated bathrooms with contemporary tile surrounds and fixtures, and new luxury vinyl plank flooring throughout. The presence of mini-split climate control and updated recessed lighting further confirms that all major components meet current quality standards with no deferred maintenance.
Comprehensively remodeled in 2022, both units feature high-end finishes including quartz countertops, stainless steel appliances, and in-unit laundry, ensuring immediate rental income with minimal initial capital expenditure.
The R-2 zoning, combined with San Diego's aggressive ADU ordinances and transit-oriented infill positioning, allows for significant densification and the potential to multiply existing income streams.
Boasting a rare 1/10 risk score for flood, fire, and wind, the property offers favorable insurance economics, while proximity to the highly-rated Hamilton Elementary (8/10) sustains long-term family tenant demand.
The property relies on wall and window air conditioning units rather than a centralized HVAC system, which may be perceived as a drawback for tenants seeking premium climate comfort.
Located in a high-density urban corridor, the property may face challenges common to the area, such as limited street parking and higher noise levels compared to more secluded residential neighborhoods.
CITY HEIGHTS DUPLEX | R-2 ZONED | IMMEDIATE INCOME + EXTRAORDINARY DEVELOPMENT UPSIDE Few opportunities arrive with this much aligned in your favor. A fully remodeled, income-producing R-2 zoned duplex on a 5,178 square foot lot, positioned in the heart of one of San Diego's most powerfully appreciating urban corridors, this is the kind of generational asset that sophisticated investors recognize immediately and move on decisively. City Heights is not emerging. It has emerged. The Mid-City submarket is experiencing a transformation that is redefining land values, reshaping the streetscape, and rewarding those who had the vision to act early. This property does not sit on the sidelines of that story. It sits at the center of it. Both units were comprehensively remodeled in 2022 to a standard that today's discerning residents expect and deserve. The upper level unfolds across approximately 950 square feet of beautifully appointed living space, offering 2 bedrooms, 1 bathroom, a sweeping open concept layout, custom quartz countertops, a stylish breakfast bar, stainless steel appliances, and the coveted convenience of in-unit laundry. The lower unit presents approximately 850 square feet of equally refined living, with 2 bedrooms, 1 bathroom, a private fenced yard that creates a genuine sense of arrival, and a dedicated laundry closet. Both residences feature individually fenced outdoor retreats and climate controlled comfort through wall and window air conditioning. These are not afterthought finishes. They are the details that attract quality long term residents and keep them. The leases in place and the income figures speak for themselves. The investment opportunity extends well beyond today's cash flow. The R-2 designation, layered with the City of San Diego's landmark ADU ordinance and its aggressive multi-family densification framework, transforms this lot into a genuine development platform. The paths forward are multiple and meaningful. Add accessory dwelling units and multiply your income streams. Maximize the allowable density envelope and reposition the asset for the next decade. The Mid-City Community Plan places this site squarely within the city's highest priority transit-oriented infill zones, which means policy, infrastructure, and capital are all moving in the same direction you are. The risk profile is equally compelling. Flood, fire, and wind exposure each score a remarkable 1 out of 10, supporting clean underwriting and favorable insurance economics. Hamilton Elementary, rated 8 out of 10, anchors the neighborhood's family appeal. Major freeways, thriving employment centers, and robust public transit connections are all within easy reach, fundamentals that sustain demand, validate comparable sales, and strengthen every exit strategy on your model. Whether you are a 1031 exchange buyer seeking a pristine capital preservation vehicle, a value-add investor ready to build on a turnkey foundation, or a developer strategically assembling a land position in one of Southern California's most supply-constrained and policy-favored urban infill markets, this is the opportunity that belongs at the top of your underwriting queue. Assets that unite immediate income, institutional quality finishes, zoning optionality, and locational irreplaceability at this price point are extraordinarily rare. When they appear, the window is brief. The numbers are exceptional. The upside is undeniable. The time to act is now.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-6 • 0.7 mi
Grades K-5 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,700 | 1,698 | 56% |
| Lot Size | 5,178 | 5,178 | 50% |
| Price | $1.20M | $820.0K | 78% |
| Price per sq ft | $706 | $518 | 56% |
| Built year | 1963 | 1952 | 67% |
| HOA | $0 | $0 | 50% |
| Days on market | 21 | 135 | 11% |
Apr 1, 2026
$1,200,000
Initial Listing
Apr 28, 2025
$925,000
Public Record
May 6, 2022
$879,000
Public Record
Jan 12, 2022
$600,000
Public Record
Apr 9, 1996
$17,000
Public Record