325 Gloria St, San Diego, California 92113, San Diego, 92113 - 3 bed, 2 bath
ACTIVE$975,000$1,011/sqft
Est. Value: $749,046
-23%
AboveEstimate
325 Gloria St, San Diego, California 92113
3Beds
2Baths
1,011Sqft
6,591Lot
Price Vs. Estimate
The estimated value ($749,046.475) is $225,953.525 (23%) 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, offering immediate development potential for significant rental income or resale value.
Top Cons:
Capital Intensive ADU Construction: While plans are approved, the actual construction of the four ADUs will require a substantial additional capital investment and project management from the buyer.
Compared to the nearby listings
Price:$975.0K vs avg $675.0K (+$300,000)94%
Size:1,011 sqft vs avg 1,092 sqft30%
Price/sqft:$964 vs avg $57194%
More Insights
Built in 1940 (86 years old).
Condition: Despite being built in 1940, the existing 3 bed/2 bath home and attached studio are described as 'turn-key' and show evidence of recent updates. The kitchen features modern white shaker cabinets, light countertops, stainless steel appliances (refrigerator, dishwasher, microwave, range), and recessed lighting. Flooring throughout the main living areas and bedrooms is a modern wood-look LVP. Bathrooms are functional and appear updated with modern vanities and fixtures. The property also benefits from dual-pane windows and paid-off solar, indicating significant system upgrades. While not a full, extensive renovation to 'virtually new' standards, these updates make the property move-in ready with minimal wear and tear, aligning with the 'Good' condition criteria.
Year Built
1940
Close
-
List price
$975K
Original List price
$975K
Price/Sqft
$964
HOA
-
Days on market
-
Sold On
-
MLS number
2600819SD
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 the pictures. Opportunity Zone. RM-2-5.
K
Kaushal Patel
Listing Agent
Price History
Date
Event
Price
06/16/23
Sold
$753,000
12/21/22
Sold
$500,000
08/16/02
Sold
$250,000
03/15/02
Sold
$135,000
Condition Rating
Good
Despite being built in 1940, the existing 3 bed/2 bath home and attached studio are described as 'turn-key' and show evidence of recent updates. The kitchen features modern white shaker cabinets, light countertops, stainless steel appliances (refrigerator, dishwasher, microwave, range), and recessed lighting. Flooring throughout the main living areas and bedrooms is a modern wood-look LVP. Bathrooms are functional and appear updated with modern vanities and fixtures. The property also benefits from dual-pane windows and paid-off solar, indicating significant system upgrades. While not a full, extensive renovation to 'virtually new' standards, these updates make the property move-in ready with minimal wear and tear, aligning with the 'Good' condition criteria.
Pros & Cons
Pros
Shovel-Ready ADU Development: Fully approved plans, permits, and fees paid for 4 ADUs, offering immediate development potential for significant rental income or resale value.
Existing Income/Multi-Generational Potential: The current property includes a 3 bed/2 bath turn-key home plus an attached studio with a separate entrance, providing immediate rental income or flexible living arrangements.
Significant Investment Upside: Located in an Opportunity Zone with RM-2-5 zoning, combined with the ADU development, this property presents a robust investment opportunity for substantial future returns and potential tax benefits.
Energy Efficiency Upgrades: Equipped with dual-pane windows and a paid-off solar system, reducing utility costs and enhancing the property's long-term value and appeal.
Prime Location & Market Appreciation: Situated in Logan Heights, San Diego, an area showing strong market appreciation (evidenced by sales history), indicating a desirable and growing neighborhood.
Cons
Capital Intensive ADU Construction: While plans are approved, the actual construction of the four ADUs will require a substantial additional capital investment and project management from the buyer.
Age of Main Structure: Built in 1940, the primary residence is an older property, which may necessitate ongoing maintenance or updates beyond the mentioned dual-pane windows and solar.
Compact Main House Size: The main 3 bed/2 bath home is relatively small at 1011 sqft, which might be a consideration for buyers seeking a larger primary residence, although the focus is heavily on the ADU development.