2603 Figueroa, San Diego, California 92109, San Diego, 92109 - 6 bed, 4 bath
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2603 Figueroa
San Diego, California 92109
ACTIVE
CONDITION: FAIR
6Beds
4Baths
2,155Sq Ft
4,000Lot Size
Property Price
LIST PRICE$1,595,000
EST. MARKET VALUE
$1,593,819
SUMMARY
This 6-bedroom multifamily-zoned asset represents a High-Potential Investment Opportunity, listed at $1,595,000—positioned well below the $1,593,819 Fair Market Value (effectively at market). With a Fair Condition Rating and RM-3-8 zoning, the property currently generates $10,000/month in rental income. Key features include a rooftop deck with 360-degree views and approved renderings for a 3-bedroom ADU. Located near top-rated schools like Bird Rock Elementary, this versatile property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to leverage significant development upside.
Estimated Market Value
$1,593,819
Based on Realkey algorithm analyzing recent comparable sales in San Diego.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2603 Figueroa Subject 6 bd · 4 ba · 2,155 sqft · $740 | $1,595,000* List Price | 6 | 4 | 2,155 | $740 | - |
A 2410 Geranium St Sold 5 bd · 4 ba · 2,532 sqft · $761 · 0.5 mi | $1,927,600 | 5 | 4 | 2,532 | $761 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1993 (31 years old), the property falls into the 'Fair' category as it is over 20 years old with dated interior finishes. While functional and currently generating rental income, the visible bathroom features older cabinetry and glass block windows typical of a 15-20+ year old renovation. The listing emphasizes development potential and ADU renderings rather than recent high-end interior updates.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Bird Rock Elementary School (10/10).
- Exceptional Investment & Development Potential
The property boasts a strong 5.07% cap rate with $10,000/month in current rental income, complemented by RM-3-8 multifamily zoning and plans for a potential 3-bedroom ADU.
- Prime Coastal Location & Views
Situated at the end of a quiet cul-de-sac, the home offers a rooftop deck with 360-degree panoramic views and direct access to the Rose Creek trail for easy biking to Mission Bay and the beach.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2155, other record living area = 1872. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 3.
- High Bedroom Density
With six bedrooms distributed across only 2,155 square feet, individual room sizes and common areas may feel constrained for a household of that capacity.
- Limited Lot Utility
The 4,000 square foot lot is relatively small for a large 6-bedroom home, and the addition of a two-story ADU would significantly reduce the available private yard space.
About 2603 Figueroa
Tucked at the end of a quiet Pacific Beach cul-de-sac with Rose Creek out back, this 6-bedroom, 3.5-bath home offers room to spread out and a rooftop deck with 360-degree views north to Mount Soledad. Currently leased at $10,000/month (est. 5.07% cap rate at list price), with RM-3-8 multifamily zoning and renderings for a potential two-story, 3-bedroom ADU, subject to City of San Diego approval. The flexible three-story layout includes an open-concept living room and kitchen, a bright dining area, and a separate family room with an adjacent full bath. The primary suite has a kitchenette, a spacious ensuite bath and a private balcony overlooking Rose Creek. The fully fenced yard features flowering plants and fruit trees, with space to make it your own. Step out to the Rose Creek trail for a walk or ride to Mission Bay, with the beach minutes away and quick access to I-5. A home to live in, rent out or grow into in one of San Diego’s most desirable coastal neighborhoods.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1993
- Lot Size
- 4,000 Sq. Ft.
Interior
- Total Bedrooms
- 6
- Total Bathrooms
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
San Diego Unified Schools
Sessions Elementary School
Grades K-5 • 0.6 mi
9/10
Toler Elementary School
Grades K-5 • 0.8 mi
7/10
Crown Point Jr Music Academy
Grades K-5 • 1.2 mi
7/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 3.2 |
| Baths | 4.0 | 2.2 |
| Square foot | 2,155 | 1,752.269 |
| Lot Size | 4,000 | 6,446.159 |
| Price | $1.59M | $1.27M |
| Price per sq ft | $740 | $736 |
| Built year | 1993 | 1971 |
| HOA | $0 | $186 |
| Days on market | 17 | 41 |
Pricing History
Listed for Sale
Oct 8, 2026
$1,595,000
Initial Listing
Sold
Jun 2, 2025
$1,455,000
Public Record
Sold
Apr 29, 2013
$630,000
Public Record
Sold
Sep 17, 2004
$475,000
Public Record