351 Milbrae St, San Diego, California 92113, San Diego, 92113 - 4 bed, 3 bath
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351 Milbrae St
San Diego, California 92113
ACTIVE
CONDITION: GOOD
4Beds
3Baths
1,263Sq Ft
0Lot Size
Property Price
LIST PRICE$599,999
EST. MARKET VALUE
$646,801
7% BelowMARKET VALUE
SUMMARY
This property presents a Strong Value Opportunity with a List Price of $649,000—positioned well below the $683,655 Fair Market Value by 5%. This valuation gap offers $34,655 in Instant Equity for developers. Featuring San Diego City Approved Plans for a 7-unit conversion, this Condition Rating 3 asset includes a patio and valuable alley access. It is a high-density development project ideal for Buy-and-Hold Investors or Professional Developers seeking a shovel-ready, income-producing infill housing project.
Estimated Market Value
$646,801+$46,802 Equity Potential
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 |
|---|---|---|---|---|---|---|
★ 351 Milbrae St Subject | $599,999* List Price | 4 | 3 | 1,263 | $512 | - |
A 3891 Superba St Sold | $610,000 | 2 | 1 | 1,048 | $582 | 0.2 mi |
B 430 S 33rd St Sold | $693,000 | 3 | 2 | 1,310 | $529 | 0.6 mi |
C 4449 Logan Avenue Sold | $678,000 | 3 | 2 | 1,115 | $608 | 0.9 mi |
D 827 S 39th Street Sold | $729,000 | 3 | 2 | 1,407 | $518 | 0.4 mi |
E 8 S Francis Street Active | $599,000 List Price | 4 | 2 | 1,200 | $499 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Despite the 1911 build date, the interior shows a recent renovation (likely <5 years) featuring modern grey shaker cabinets, stainless steel appliances, and updated laminate flooring. While the property is marketed as a 'value-add' development project, the existing kitchen and living areas appear well-maintained and move-in ready.
PROSSTRENGTHS & OPPORTUNITIES
- Shovel-Ready Development
The property includes San Diego City Approved Plans for a 7-unit project, significantly reducing pre-development timelines and permitting risks for investors.
- High-Density Income Potential
The approved conversion and construction of 7 total units on a single lot offers a rare opportunity to maximize rental yield and long-term asset value.
- Strategic Alley Access
Valuable alley access provides excellent functionality for construction logistics and enhances the future layout and accessibility of the multi-unit development.
CONSRISKS & DEFICIENCIES
- Financing Restrictions
The requirement for cash or private money only limits the potential buyer pool and excludes those relying on traditional conventional financing.
- Aging Infrastructure
Built in 1911, the existing structure may present unforeseen structural challenges or high renovation costs during the conversion process.
About 351 Milbrae St
Fixer with development potential for 7 units! Short Sale, Lender approved at $600k, cannot entertain offers below $600k. Cash or Hard Money only. This value-add property includes City San Diego submitted plans to convert the existing single-family residence into 2 residential units, constructing 4 new detached ADUs, and completing 1 garage conversion ADU for a total of 7 units. Save months of planning and pre-development time with plans already prepared for a project designed for today's high-demand infill housing market. The property features valuable alley access; providing excellent functionality for construction, access, and future unit layout. Whether you're looking to build a long-term rental portfolio, create a high-performing income-producing asset, or capitalize on the strong demand for new housing, this project offers a rare opportunity to acquire a development that's ready for its next phase.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1911
- Lot Size
- -
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.3 |
| Baths | 3.0 | 2.3 |
| Square foot | 1,263 | 1,777.941 |
| Lot Size | - | 6,474.445 |
| Price | $600.0K | $1.27M |
| Price per sq ft | $475 | $741 |
| Built year | 1911 | 1971 |
| HOA | $0 | $184 |
| Days on market | 42 | 40 |
Pricing History
Listed for Sale
Aug 21, 2026
$599,999
$649,000
-8% Price Drop
Initial Listing
Price Change
Jul 29, 2026
$649,000
Initial Listing
Sold
Feb 23, 2024
$580,000
Public Record
Sold
Feb 23, 2024
$557,000
Public Record
Sold
Apr 10, 2009
$100,000
Public Record
Sold
Aug 12, 2004
$365,000
Public Record