3532 34 Jemez Drive, San Diego, California 92117, San Diego, 92117 - 3 bed, 2 bath
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San Diego, California 92117
This Bay Ho duplex presents a High-Potential Investment Opportunity with a List Price of $1,085,000—positioned slightly above the $1,076,601 Fair Market Value. While the property requires a comprehensive renovation due to its Condition Rating of 5, the Zoning R-2 Minor Multiple and 6,561 sqft lot provide significant upside for repositioning. Located near top-rated schools like Holmes Elementary (9/10), this asset offers excellent rental demand. It is an ideal acquisition for Buy-and-Hold Investors or Contractors seeking to maximize value through a full-scale interior and systems modernization.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3532 34 Jemez Drive Subject | $1,085,000* List Price | 3 | 2 | 1,232 | $874 | - |
A 3563 65 Clairemont Mesa Blvd Sold | $1,025,000 | 0 | 0 | 1,200 | $854 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1954 and on the market for the first time in 50 years, this property shows significant deferred maintenance. The exterior exhibits peeling paint and weathered fascia, while the interior features dated flooring and an obsolete wall heating unit. The listing's call for a 'visionary to bring it back to life' confirms it requires a full rehab of all major systems and finishes.
Elementary School: Holmes Elementary School (9/10).
Zoned R-2 Minor Multiple on a 6,561 sqft lot, this duplex offers significant value-add potential for investors or developers looking to renovate, reposition, or expand in a high-demand San Diego submarket.
Ideally situated in the desirable Bay Ho neighborhood, the property provides quick access to major freeways and retail centers, while remaining just minutes away from San Diego’s premier beaches and Mission Bay.
Offered for the first time in over 50 years, the property is in mostly original condition and requires a comprehensive 'back to life' renovation to meet modern market standards and maximize rental yields.
Given the 1954 construction and long-term tenure, the property likely contains dated mechanical, electrical, and plumbing systems that may necessitate substantial capital expenditure during the remodeling process.
First time on the market in over 50 years! This charming Bay Ho duplex holds a ton of potential and is ready for the next visionary to bring it back to life. This 2-unit, single story duplex consists of one, 2 bed 1 bath unit (approx 712sf), and another 1 bed 1 bath unit (approx 520sf), side by side. Each has its own private backyard with alley access, and there's a detached 2-car garage with alley access. There are 2 additional parking spaces next to the garage (off-street). Zoned R-2 Minor Multiple, this property is close to retail, freeway access, schools, shopping and just minutes to the beach and bay!
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.7 mi
Grades K-6 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 1,232 | 1,962 |
| Lot Size | 6,561 | 7,200.5 |
| Price | $1.08M | $984.4K |
| Price per sq ft | $881 | $614 |
| Built year | 1954 | 1979 |
| HOA | $0 | $374 |
| Days on market | 8 | 43 |
Jul 14, 2026
$1,085,000
Initial Listing