3009 Madison Ave, San Diego, California 92116, San Diego, 92116 - 1 bed, 1 bath
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San Diego, California 92116
This property presents a High-Potential Investment Opportunity with a List Price of $795,000—positioned well below the $814,280 Fair Market Value by 2%. This valuation gap offers $19,280 in Instant Equity. Featuring CN 1-5 Zoning and a Condition Rating of 6, the asset is primed for redevelopment or creative live-work conversion. Its central location in University Heights offers high walkability and long-term upside. This is an ideal acquisition for Buy-and-Hold Investors or Residential Developers seeking a versatile urban footprint.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3009 Madison Ave Subject | $744,800* List Price | 1 | 1 | 550 | $1,267 | - |
A 3015 Madison Ave. Sold | $526,500 | 1 | 1 | 396 | $1,330 | 0.0 mi |
B 1831 Meade Ave Active | $659,000 List Price | 1 | 1 | 528 | $1,248 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1955 (>70 years old) with no mention of renovations, this 550 sqft structure is marketed primarily for its CN 1-5 zoning and development potential. The listing emphasizes land value and 'residential development' opportunities rather than the condition of the existing dwelling, fitting the criteria for a tear-down.
The CN 1-5 zoning provides exceptional flexibility for residential use, short-term rentals, or commercial development, making it a prime target for investors and entrepreneurs.
Situated in the heart of University Heights and steps from North Park, the property boasts high walkability to premier dining, nightlife, and cultural attractions.
Given the central location and zoning, the property offers significant long-term upside for residential redevelopment or a unique live-work configuration.
At a list price of $795,000 for only 550 square feet, the property commands a premium price point that may challenge traditional residential appraisals.
The small 1-bedroom, 1-bathroom footprint and compact lot size may limit appeal for owner-occupants seeking more space or traditional yard area.
Rare opportunity to own a single-family home in the heart of University Heights, just steps from the dining, nightlife, and culture of North Park. Offering exceptional flexibility, the property's CN 1-5 zoning opens the door to a variety of potential uses, including a primary residence, short or mid-term rental, residential development, or select retail and personal service businesses. Whether you're looking for a place to call home, an investment with long-term upside, or a unique live-work opportunity, this property presents a range of possibilities in one of San Diego's most sought-after urban neighborhoods. With strong walkability, a central location, and valuable zoning flexibility, opportunities like this are rarely available. range of possibilities in one of San Diego's most sought-after urban neighborhoods. With strong walkability, a central location, and valuable zoning flexibility, opportunities like this are rarely available.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 1.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 550 | 1,777 |
| Lot Size | 1,399 | 6,600 |
| Price | $744.8K | $1.24M |
| Price per sq ft | $1.4K | $743 |
| Built year | 1955 | 1972 |
| HOA | $0 | $200 |
| Days on market | 43 | 39 |
Jul 11, 2026
$744,800
$795,000
-6% Price Drop
Initial Listing
Jun 9, 2026
$795,000
Initial Listing
Apr 12, 1999
$80,000
Public Record