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362 Palm Avenue, Chula Vista, California 91911, Chula Vista, 91911 - 3 bed, 2 bath

362 Palm Avenue, Chula Vista, California 91911 home-pic-0
ACTIVE$1,250,000
362 Palm Avenue, Chula Vista, California 91911
3Beds
2Baths
1,519Sqft
11,591Lot
Year Built
1932
Close
-
List price
$1.25M
Original List price
$1.25M
Price/Sqft
$823
HOA
-
Days on market
-
Sold On
-
MLS number
PTP2508798
Home ConditionGood
Features
View-

About this home

Possibly Over-Priced:The estimated price is 13% below the list price. We found 3 Cons,6 Pros. Rank: price - $1.25M(98th), sqft - 1519(54th), beds - 3(50th), baths - 2(50th).

5 BEDROOMS 3 BATHS, 2,277 SQ FT FOR BOTH UNITS, PLEASE OPEN THE ICON ASSOCIATED DOCS FOR A FULL DESCRIPTION AND IMPROVEMENTS OF BOTH UNITS, IT HAS EVERY DETAIL OF IMPROVEMENTS. A Three bedroom, two bath 1519 sq ft single-family home with a two Bedroom 1 bath 750 sq ft ADU. SIDE-BY-SIDE! . No need to go through someone else's front and side yard to the ADU. These units presents as two single family homes next-door to each other. Each has its own frontage and adjacent parking, three and four parking spots respectively. And all this on a quarter acre lot! An extended Multi generational family compound. Senate bill 9 from 2023 allows lots like this to be split and sold separately. Loads of possibilities. Buyer to investigate and verify for Themselves. This home comes with a FHA, Assumable

Nearby schools

6/10
Otay Elementary School
Public,•K-6•0.8mi
6/10
Castle Park Middle School
Public,•7-8•1.3mi
5/10
Castle Park Senior High School
Public,•9-12•1.2mi

Price History

Date
Event
Price
11/26/25
Listing
$1,250,000
02/09/22
Sold
$650,000
Condition Rating
Good
Despite being built in 1932, the property appears to have undergone significant and relatively recent renovations, particularly in the ADU and main living areas. The hardwood floors are refinished, walls are freshly painted, and the kitchen features newer stainless steel appliances and white shaker cabinets. While the kitchen's terracotta tile floor and some light fixtures are not ultra-modern, they are clean and well-maintained. The property is move-in ready with no immediate major renovations required, aligning with the 'Good' condition criteria for properties extensively renovated within the last 5-15 years.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11591, living area = 1519.
Exceptional Income/Multi-Generational Potential: Features a distinct, side-by-side ADU (2 bed, 1 bath) with separate frontage and parking, ideal for rental income, multi-generational living, or a dedicated home office.
Significant Development Opportunity: The large quarter-acre lot, combined with eligibility for lot splitting under Senate Bill 9, offers substantial future development or investment potential.
Generous Lot Size: A substantial 11,591 sq ft lot provides ample space for outdoor amenities, potential expansion, or future subdivision.
Assumable FHA Loan: The availability of an assumable FHA loan can be a significant financial advantage for qualified buyers, potentially offering a lower interest rate and more favorable terms.
Unique Dual-Unit Configuration: The side-by-side layout of the main house and ADU, each with independent access and parking, provides superior privacy and functionality compared to typical ADU setups.

Cons

Advanced Age of Construction: Built in 1932, the property is nearly a century old, which may imply higher ongoing maintenance costs and potential for outdated systems despite mentioned improvements.
Lack of Scenic Views: The property does not offer any notable scenic views, which could be a consideration for buyers prioritizing such amenities.
Rapid Price Appreciation: The current list price of $1.25M represents a substantial increase from its $650,000 sale price in early 2022, potentially raising questions about market value justification.

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