2720 Olive Street, Lemon Grove, California 91945, Lemon Grove, 91945 - 3 bed, 2 bath
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2720 Olive Street
Lemon Grove, California 91945
ACTIVE
CONDITION: POOR
3Beds
2Baths
1,079Sq Ft
7,335Lot Size
Property Price
LIST PRICE$649,000
EST. MARKET VALUE
$632,296
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $649,000—positioned well above the $632,297 Fair Market Value by -2%. Featuring a Condition Rating of 5, this asset requires significant rehabilitation to unlock its full potential. The 7,335 sq. ft. lot and RLM Zoning provide excellent flexibility for expansion or ADU development. This is a strategic acquisition for Fix-and-Flip Investors or Contractors seeking a value-add project with multi-unit income potential in a well-connected Lemon Grove location.
Estimated Market Value
$632,296
Based on Realkey algorithm analyzing recent comparable sales in Lemon Grove.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2720 Olive Street Subject 3 bd · 2 ba · 1,079 sqft · $586 | $649,000* List Price | 3 | 2 | 1,079 | $586 | - |
A 2019 Fairhaven St Sold 3 bd · 2 ba · 1,216 sqft · $547 · 0.5 mi | $665,000 | 3 | 2 | 1,216 | $547 | 0.5 mi |
B 2656 Grange Street Sold 2 bd · 1 ba · 914 sqft · $711 · 0.1 mi | $650,000 | 2 | 1 | 914 | $711 | 0.1 mi |
C 7595 Roosevelt Ave. Sold 3 bd · 2 ba · 1,332 sqft · $541 · 0.2 mi | $720,000 | 3 | 2 | 1,332 | $541 | 0.2 mi |
D 2503 Mulder St Sold 3 bd · 2 ba · 1,206 sqft · $614 · 0.5 mi | $740,000 | 3 | 2 | 1,206 | $614 | 0.5 mi |
E 7570 Cuyamaca Avenue Sold 2 bd · 1 ba · 745 sqft · $701 · 0.2 mi | $522,500 | 2 | 1 | 745 | $701 | 0.2 mi |
F 7931 Barton Dr Sold 2 bd · 2 ba · 1,035 sqft · $643 · 0.7 mi | $665,000 | 2 | 2 | 1,035 | $643 | 0.7 mi |
G 8224 Mount Vernon Sold 3 bd · 2 ba · 1,477 sqft · $508 · 0.6 mi | $750,000 | 3 | 2 | 1,477 | $508 | 0.6 mi |
H 8129 Lemon Grove Pending 3 bd · 2 ba · 976 sqft · $563 · 0.8 mi | $549,900 List Price | 3 | 2 | 976 | $563 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1950, this property is explicitly marketed to investors and contractors as a renovation or redevelopment project. While the kitchen and bathroom show some budget-friendly cosmetic updates, the exterior stucco is deteriorating, and the listing agent's requirement for buyers to review reports and estimates prior to showings indicates significant underlying system or structural issues requiring a full rehab.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7335, living area = 1079.
- Multi-Unit Potential
The property features an attached, permitted 1BR/1BA unit with a separate entrance, offering immediate flexibility for rental income or multi-generational living arrangements.
- Development Flexibility
A generously sized 7,335 sq. ft. flat lot combined with RLM zoning provides significant potential for expansion, redevelopment, or the addition of an ADU/JADU.
CONSRISKS & DEFICIENCIES
- Extensive Renovation Needed
Marketed specifically to investors and contractors, the property requires substantial repairs and modernization to address its original 1950s condition.
- Dated Infrastructure
Given the year built, the home likely possesses aging systems and structural elements that may require significant capital investment to meet current building standards.
About 2720 Olive Street
Opportunity awaits! Calling all investors, contractors and renovation enthusiasts! You have a single-level 2BR, 1BA, living/dining, kitchen/breakfast area in the main house and an ATTACHED permitted 1BR,1BA with a separate entrance. Perfect for extended family. This property provides many possibilities to transform this home on a generously sized 7,335sq.ft. flat lot. You have so many options – expand, build up, or you can add an ADU/JADU in addition to the main dwelling. Whether you're looking to create your perfect home, next investment project or potential redevelopment, Olive Street offers a unique opportunity for your real estate ambitions. This location is nearby local eateries, shopping centers, trolley, schools and more. Note: Any redevelopment or expansion possibilities are subject to applicable zoning (RLM zone), permits, and city approval – buyer to verify all information. **Agents please look in documents section of the MLS and send all the reports and estimates to your client for review prior to scheduling a showing.**
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1950
- Lot Size
- 7,335 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Lemon Grove Unified Schools
San Miguel Elementary School
Grades PK-6 • 0.8 mi
5/10
Lemon Grove Academy For The Sciences And Humanities
Grades PK-8 • 0.3 mi
6/10
Mount Miguel High School
Grades 9-12 • 1.1 mi
3/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,079 | 1,364.171 |
| Lot Size | 7,335 | 7,694.526 |
| Price | $649.0K | $774.0K |
| Price per sq ft | $601 | $554 |
| Built year | 1950 | 1957 |
| HOA | $0 | $0 |
| Days on market | 5 | 41 |
Pricing History
Listed for Sale
Oct 20, 2026
$649,000
Initial Listing