325 Gloria St, San Diego, California 92113, San Diego, 92113 - 3 bed, 2 bath
ACTIVE$975,000
325 Gloria St, San Diego, California 92113
3Beds
2Baths
1,011Sqft
6,591Lot
Price Vs. Estimate
The estimated value ($801,619.91) is $173,380.09 (17%) lower than the list price ($975,000). This property may be overpriced.
Key pros and cons
Top Pros:
Shovel-Ready ADU Development: Fully approved plans, permits, and fees paid for 4 ADUs, significantly de-risking and accelerating the development process for investors.
Top Cons:
Significant Price Discrepancy: The current listing price of $975,000 is considerably higher than the estimated property value of $804,067.79, potentially indicating an overvaluation relative to its current state.
Compared to the nearby listings
Price:$975.0K vs avg $683.5K (+$291,500)94%
Size:1,011 sqft vs avg 1,092 sqft31%
Price/sqft:$964 vs avg $58996%
More Insights
Built in 1940 (85 years old).
Condition: While the property was built in 1940, the interior, particularly the kitchen and bathrooms, has undergone significant and tasteful modern renovations. The kitchen features white shaker cabinets, light-colored countertops, stainless steel appliances, and modern black fixtures. Bathrooms also show updated vanities and fixtures. The property benefits from updated flooring (LVP/laminate), recessed lighting, dual-pane windows, and solar panels, making it move-in ready as described. The exterior and overall structure show some age, preventing an 'Excellent' score, but the extensive interior updates elevate it beyond 'Fair'.
Year Built
1940
Close
-
List price
$975K
Original List price
$1.13M
Price/Sqft
$964
HOA
-
Days on market
-
Sold On
-
MLS number
250035970SD
Home ConditionGood
Features
Patio
View-
About this home
FULLY APPROVED PLANS, PERMITS & FEES PAID FOR 4 ADUs! Shovel-ready Investment Opportunity! Turn-key home 3 bed/ 2 bath plus attached studio with kitchen, bath, and separate entrance. Dual pane windows and the owner will pay off solar at COE. Approved plans, permits, and fees paid for 4 ADUs. Plans are approved for the construction of 4 ADUs, allowing for rental income or opting to take advantage of SB 1033. The permits are for 4 units total, consisting of 2 bed/ 1 bath, 674 sq. ft. Renderings of the interior of the proposed units are included in pictures. Opportunity Zone. RM-2-5.
Condition Rating
Good
While the property was built in 1940, the interior, particularly the kitchen and bathrooms, has undergone significant and tasteful modern renovations. The kitchen features white shaker cabinets, light-colored countertops, stainless steel appliances, and modern black fixtures. Bathrooms also show updated vanities and fixtures. The property benefits from updated flooring (LVP/laminate), recessed lighting, dual-pane windows, and solar panels, making it move-in ready as described. The exterior and overall structure show some age, preventing an 'Excellent' score, but the extensive interior updates elevate it beyond 'Fair'.
Pros & Cons
Pros
Shovel-Ready ADU Development: Fully approved plans, permits, and fees paid for 4 ADUs, significantly de-risking and accelerating the development process for investors.
High Income Potential: The ability to add 4 rental units (2 bed/1 bath each) to the existing 3 bed/2 bath home plus attached studio offers substantial rental income generation.
Opportunity Zone Benefits: Located in an Opportunity Zone, providing significant tax advantages for investors, enhancing the property's long-term financial appeal.
Existing Income & Flexibility: The current property includes a 3 bed/2 bath home with an attached studio featuring a separate entrance, offering immediate rental income or flexible living arrangements.
Energy Efficiency Upgrades: Equipped with dual-pane windows and solar panels (to be paid off by owner at COE), contributing to lower utility costs and increased property value.
Cons
Significant Price Discrepancy: The current listing price of $975,000 is considerably higher than the estimated property value of $804,067.79, potentially indicating an overvaluation relative to its current state.
Age of Original Structure: Built in 1940, the main house is an older property, which may entail higher maintenance costs or the need for additional renovations beyond the planned ADU construction.
Niche Buyer Pool: The property's primary value proposition is its ADU development potential, which may limit its appeal to a specific segment of investors or developers, rather than a broader market of traditional homebuyers.