2834 L Street, San Diego, California 92102, San Diego, 92102 - 2 bed, 1 bath
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2834 L Street
San Diego, California 92102
ACTIVE
CONDITION: POOR
2Beds
1Baths
970Sq Ft
4,791.6Lot Size
Property Price
LIST PRICE$975,000
EST. MARKET VALUE
$891,762
9% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $975,000—positioned above the $891,762 Fair Market Value. While the current Condition Rating of 5 necessitates a full rehabilitation, the RM-2-5 Zoning provides significant upside for multi-unit development in a central location. Proximity to Kimbrough Elementary and major transit hubs ensures long-term rental demand. This asset is best suited for Buy-and-Hold Investors or Developers capable of executing a comprehensive value-add strategy to maximize the site's density potential.
Estimated Market Value
$891,762
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 |
|---|---|---|---|---|---|---|
★ 2834 L Street Subject | $975,000* List Price | 2 | 1 | 970 | $919 | - |
A 2959 B Street Sold | $920,000 | 3 | 2 | 1,080 | $852 | 0.7 mi |
B 1224 27th Active | $860,000 List Price | 2 | 1 | 984 | $874 | 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 1948 and marketed primarily as a development opportunity, the property shows significant signs of age and incomplete utility work. While some newer flooring is present, the interior features exposed electrical conduit and unfinished walls, while the exterior shows cracking on the concrete porch. The listing's focus on land value and 'present condition' confirms it requires a full rehab.
PROSSTRENGTHS & OPPORTUNITIES
- Development Potential
The RM-2-5 zoning (Residential-Multiple Unit) provides a significant opportunity for builders and investors to add density and maximize the property's value through multi-unit development.
- Strategic Central Location
Situated in the heart of Central San Diego, the property offers excellent proximity to downtown, major employment hubs, and transit, ensuring strong future appreciation and rental demand.
- Exceptional School Proximity
Located just 0.07 miles from Kimbrough Elementary School, the property offers unmatched convenience for families, which is a major selling point for future residential units.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =4791, other record lot size in square feet = 4845.
- As-Is Condition
The property is being sold in its present condition and dates back to 1948, likely requiring substantial capital investment for modernization or a complete teardown.
- High Price per Square Foot
At a list price of $975,000 for only 970 square feet of living space, the acquisition cost is high for buyers not specifically looking to leverage the development zoning.
About 2834 L Street
DEVELOPMENT & INVESTMENT OPPORTUNITY! 2834 L Street offers an exciting opportunity for builders, developers and investors in San Diego. Currently improved with a 2-bedroom, 1-bath residence of approximately 970 square feet, the property is zoned RM-2-5 (Residential-Multiple Unit), offering potential for additional residential development. This property is being sold in its present condition. Located in the heart of Central San Diego, this home offers incredible future value.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1948
- Lot Size
- 4,791.6 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
San Diego Unified Schools
Kimbrough Elementary School
Grades K-5 • 0.1 mi
3/10
Burbank Elementary School
Grades K-5 • 0.6 mi
3/10
Sherman Elementary School
Grades K-5 • 0.6 mi
5/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.3 |
| Baths | 1.0 | 2.3 |
| Square foot | 970 | 1,777.941 |
| Lot Size | 4,791.6 | 6,474.445 |
| Price | $975.0K | $1.27M |
| Price per sq ft | $1.0K | $741 |
| Built year | 1948 | 1971 |
| HOA | $0 | $184 |
| Days on market | 6 | 40 |
Pricing History
Listed for Sale
Sep 3, 2026
$975,000
Initial Listing