2624 Comstock Street, San Diego, California 92111, San Diego, 92111 - 4 bed, 3 bath
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San Diego, California 92111
This Shovel-Ready 5-Unit Development Opportunity is listed at $1,199,000, representing a high-yield play in a prime San Diego submarket. While priced above the $1,075,127 Fair Market Value, the valuation is driven by RTI Permits for four ADUs and a Mint Condition front home generating $4,095/month. Upon stabilization, the property projects a $15,000 Total Gross Rent, offering a superior ROI. Proximity to top-rated Bay Park and Holmes Elementary (9/10) adds significant tenant appeal. This is a premier acquisition for Buy-and-Hold Investors or Developers seeking a risk-mitigated, cash-flowing asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2624 Comstock Street Subject | $1,199,000* List Price | 4 | 3 | 1,314 | $818 | - |
A 1892 Westinghouse Street Sold | $900,000 | 3 | 2 | 1,159 | $777 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1946, the property has undergone a complete studs-up remodel including a new roof, new HVAC, and all-new windows. The interior features a modern kitchen with stainless steel appliances, updated bathrooms with contemporary tile work, and new flooring throughout, placing it in mint condition with no maintenance required.
Elementary School: Bay Park Elementary School (9/10).
The property is sold with RTI (Ready to Issue) permits for four ADUs, eliminating the significant time, cost, and risk associated with the City of San Diego's permitting process.
The front home is fully remodeled from the studs up and currently tenant-occupied at $4,095/month, providing immediate income to cover carrying costs during construction.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
To realize the full value, the buyer must have the capital and expertise to manage the construction of four new units across two 2-story buildings.
Fitting five total units onto a 4,900-square-foot lot results in high density, which may limit private outdoor space and create parking challenges for future tenants.
2624 Comstock Street is a fully permitted 5-unit development opportunity in Linda Vista — ADU permits approved and RTI by the City of San Diego. The hard work is done. No permitting risk. No design delays. No waiting on the city. The back-of-lot build consists of four brand-new ADUs across two 2-story buildings (2,160 SF total): two 1BD/1BA units at 430 SF and two 2BD/1BA units at 650 SF — each with in-unit laundry, ductless mini-split HVAC, and private decks on upper units. At market rents, the four ADUs project to $9,400–$10,400/month in gross income upon stabilization. Combined with the front home's current lease at $4,095/month, this property pencils to up to $15,000/month in total gross rents — all on a single APN. While you build, the front home carries you. Completely remodeled from the studs up — new roof, new HVAC, new windows, new doors, new kitchen, new bathrooms, and new flooring throughout. Currently tenant-occupied at $4,095/month with immediate cash flow from day one. Shovel-ready permits, a fully remodeled front home generating $4,095/month in current rent, and a clear path to $15,000/month in gross income upon ADU completion — all on a single APN in Linda Vista. For a developer or investor looking for a turnkey entry into a high-demand San Diego submarket, 2624 Comstock is a straightforward opportunity at an attractive price point.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.8 mi
Grades K-5 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 63% |
| Baths | 3.0 | 2.0 | 83% |
| Square foot | 1,314 | 1,381.5 | 46% |
| Lot Size | 4,900 | 5,900 | 20% |
| Price | $1.20M | $1.05M | 78% |
| Price per sq ft | $912 | $748 | 83% |
| Built year | 1946 | 1960 | 4% |
| HOA | $0 | $0 | 50% |
| Days on market | 2 | 133 | 7% |
Apr 20, 2026
$1,199,000
Initial Listing
Mar 8, 2024
$885,000
Public Record
Sep 30, 2005
$490,000
Public Record