
San Diego, California 92101
This property presents a Strong Value Opportunity with a List Price of $959,000—positioned well below the $1,037,938 Fair Market Value by 7%. This valuation gap offers $78,938 in Instant Equity for buyers. Featuring a Good Condition Rating and a unique Dual-APN structure, the residence offers significant upside for those capable of restoring the original two-unit configuration. With assigned underground parking and low HOA fees, this is a high-potential asset ideal for Buy-and-Hold Investors or Contractors seeking a strategic value-add project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2442 Union Street 2n 2s Subject | $959,000* List Price | 3 | 3 | 1,785 | $589 | - |
A 1780 Kettner 513 Sold | $945,000 | 2 | 2 | 1,692 | $559 | 0.5 mi |
B 1501 India Street 205 Sold | $1,050,000 | 2 | 3 | 1,800 | $583 | 0.6 mi |
C 2414 Front St 31 Sold | $835,000 | 2 | 2 | 1,435 | $582 | 0.2 mi |
D 230 W Laurel Street 502 Sold | $750,000 | 2 | 2 | 1,648 | $455 | 0.2 mi |
E 1431 Pacific Hwy 315 Sold | $1,220,000 | 2 | 2 | 1,999 | $610 | 0.7 mi |
F 1501 Front St 523 Sold | $975,000 | 3 | 2 | 1,568 | $622 | 0.7 mi |
G 2414 Front St 11c Sold | $740,000 | 2 | 2 | 1,435 | $516 | 0.2 mi |
H 425 W Beech St 1706 Sold | $959,000 | 2 | 3 | 1,379 | $695 | 0.7 mi |
I 230 W Laurel Street 506 Active | $949,000 List Price | 3 | 2 | 1,775 | $535 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 2005, the property is 19 years old, placing it within the 10-20 year 'Good' range. The interior photos show well-maintained tile flooring, functional bathrooms with modern-style vanities, and move-in ready living spaces. Although marketed as a 'value-add' project to separate combined units, the core systems and finishes appear functional and do not show signs of neglect or major defects.
The property consists of two separate APNs, providing a rare 'value-add' opportunity to restore the residence into two individual units for maximized rental income or separate resale.
Each unit includes its own assigned tandem underground gated garage parking, a highly desirable and valuable asset in the competitive Downtown San Diego market.
The combination of relatively low HOA fees and the absence of Mello Roos taxes enhances long-term profitability and appeal for both investors and owner-occupants.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1785, other record living area = 979. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
The property is currently configured as a single residence and requires significant construction and investment to restore it to its original two-unit layout.
The unit is noted as having no view, which may be a competitive disadvantage in a downtown market where city or bay vistas often command a premium price.
Dual – APN condo investment/Prime value – Add opportunity A stand out opportunity for the savvy investor or seasoned contractor. This 1800 square-foot residence currently encompasses two combined condominium units under a single ownership, each carrying its own APN – setting the stage for a compelling value – add project. The vision is straightforward: restore the property to its original two – unit configuration, creating two separately, rentable condos with strong income potential. With the dual – APN structure already in place, the groundwork for the strategy is built right into the deal. Adding to the appeal, each unit comes with its own assigned tandem underground gated garage parking-a highly desirable amenity that strengthens rental demand and long - term value in any market For the right buyer with the skills and foresight to execute, this is a rare chance to acquire a single asset with two exit strategies – rent both units, sell them individually, or hold as a multi – unit income property. Properties of this kind of built – in upside, don’t come along often. Low HOA no Mello Roos
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 2.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,785 | 999 |
| Lot Size | - | 84,697.5 |
| Price | $959.0K | $604.2K |
| Price per sq ft | $537 | $618 |
| Built year | 2005 | 1985 |
| HOA | $400.0 | $500 |
| Days on market | 37 | 53 |
Jun 15, 2026
$959,000
Initial Listing
Apr 7, 2000
$225,000
Public Record
Jan 13, 1999
$180,000
Public Record