3046 Nimitz Blvd, Point Loma, California 92106, Point Loma, 92106 - 3 bed, 1 bath
ACTIVE$1,250,000
3046 Nimitz Blvd, Point Loma, California 92106
3Beds
1Bath
1,218Sqft
Lot
Price Vs. Estimate
The estimated value ($1,241,440) is $8,560 (0%) lower than the list price ($1,250,000). This property may be overpriced.
Key pros and cons
Top Pros:
Exceptional Development Potential: The property is explicitly marketed as a 'Great DEVELOPMENT OPPORTUNITY' in the heart of Point Loma, indicating significant upside for investors or developers.
Top Cons:
Advanced Age of Structure: Built in 1928, the existing single-family residence is significantly aged, suggesting it would likely require extensive renovation or demolition for modern use or redevelopment.
Compared to the nearby listings
Price:$1.25M vs avg $1.99M ($-735,000)9%
Size:1,218 sqft vs avg 2,305 sqft10%
Price/sqft:$1.0K vs avg $90271%
More Insights
Built in 1928 (97 years old).
Condition: The property was built in 1928, making it 96 years old. The listing explicitly markets it as a 'DEVELOPMENT OPPORTUNITY' with 'High density zoning,' which strongly indicates that the value lies in the land for redevelopment rather than the existing structure. There are no interior or exterior photos of the house, nor any mention of renovations, updates, or the condition of key areas like the kitchen or bathrooms. This complete lack of information about the house's livability, coupled with its age and the 'development opportunity' framing, suggests the structure is likely beyond repair or not worth preserving, aligning with the criteria for a 'tear-down' property.
Year Built
1928
Close
-
List price
$1.25M
Original List price
$1.35M
Price/Sqft
$1,026
HOA
-
Days on market
-
Sold On
-
MLS number
250032801SD
Home ConditionTear down
Features
Excellent View:
View-
About this home
Price Improvement. Great DEVELOPMENT OPPORTUNITY in the heart of Point Loma. High density zoning, close to airport, shopping and restaurants.
Condition Rating
Tear down
The property was built in 1928, making it 96 years old. The listing explicitly markets it as a 'DEVELOPMENT OPPORTUNITY' with 'High density zoning,' which strongly indicates that the value lies in the land for redevelopment rather than the existing structure. There are no interior or exterior photos of the house, nor any mention of renovations, updates, or the condition of key areas like the kitchen or bathrooms. This complete lack of information about the house's livability, coupled with its age and the 'development opportunity' framing, suggests the structure is likely beyond repair or not worth preserving, aligning with the criteria for a 'tear-down' property.
Pros & Cons
Pros
Exceptional Development Potential: The property is explicitly marketed as a 'Great DEVELOPMENT OPPORTUNITY' in the heart of Point Loma, indicating significant upside for investors or developers.
High-Density Zoning: Benefiting from high-density zoning, this property offers flexibility for various development projects, maximizing land use and potential return on investment.
Prime Point Loma Location: Situated in the highly desirable Point Loma area, the location itself adds substantial value and appeal, known for its quality of life and strong market.
Strategic Accessibility: Its proximity to the airport, shopping, and restaurants provides excellent convenience and enhances its attractiveness for future residents or commercial tenants.
Recent Price Improvement: A recent price reduction from $1.35M to $1.25M indicates a more competitive offering or a motivated seller, potentially presenting a better value proposition.
Cons
Advanced Age of Structure: Built in 1928, the existing single-family residence is significantly aged, suggesting it would likely require extensive renovation or demolition for modern use or redevelopment.
Inadequate Bathroom Count: With only one bathroom for three bedrooms, the current dwelling's layout is highly impractical for contemporary living standards and would necessitate major modifications if the existing structure were to be retained.
Modest Square Footage: The 1218 sqft living space is relatively small for a 3-bedroom property, especially at this price point, reinforcing that the primary value lies in the land and its development potential rather than the current dwelling.