3784 Villa Terrace, San Diego, California 92104, San Diego, 92104 - 2 bed, 2 bath
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3784 Villa Terrace
San Diego, California 92104
ACTIVE
CONDITION: EXCELLENT
2Beds
2Baths
1,312Sq Ft
0Lot Size
Property Price
LIST PRICE$1,895,000
EST. MARKET VALUE
$1,635,221
15% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $1,895,000—positioned above the $1,635,221 Fair Market Value. Featuring Ready-to-Issue (RTI) plans for a 13-unit expansion, this 14-unit community project offers significant scale in a prime North Park location. The site includes a fully renovated 1911 Craftsman with a Condition Rating of 2, ensuring immediate rental income while construction commences. This is a sophisticated value-add acquisition ideal for Multifamily Developers or Buy-and-Hold Investors seeking to capitalize on high-density infill demand.
Estimated Market Value
$1,635,221
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 |
|---|---|---|---|---|---|---|
★ 3784 Villa Terrace Subject | $1,895,000* List Price | 2 | 2 | 1,312 | $1,246 | - |
A 3642 Arizona Street Sold | $1,380,000 | 3 | 2 | 1,260 | $1,095 | 0.2 mi |
B 3405 Arizona Street Sold | $1,530,000 | 3 | 3 | 1,444 | $1,060 | 0.4 mi |
C 3405 Arizona St Sold | $1,530,000 | 3 | 3 | 1,444 | $1,060 | 0.4 mi |
D 3781 Alabama St Active | $1,645,000 List Price | 2 | 2 | 1,114 | $1,477 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
While originally built in 1911, the property has undergone a full high-end renovation within the last 5 years. The interior features a modern kitchen with new shaker cabinets, quartz countertops, and stainless steel appliances, along with updated flooring, recessed lighting, and fresh paint throughout, requiring no immediate maintenance.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: McKinley Elementary School (9/10).
- RTI Development Opportunity
The property features Ready-to-Issue (RTI) plans for a 13-unit apartment expansion, significantly reducing entitlement risk and allowing for immediate construction commencement.
- Prime North Park Location
Situated in a highly walkable infill location just blocks from University Avenue and Balboa Park, the property is positioned in one of San Diego's most desirable rental markets.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 3.
- High Entry Price
At a list price of $1.895M, the initial acquisition cost is substantial, requiring a developer with significant capital for both the purchase and the subsequent construction phase.
- Site Density Challenges
Developing 13 new units on a 6,250 SF lot while preserving an existing front house creates a very high-density footprint, which may complicate construction logistics and staging.
About 3784 Villa Terrace
RTI multifamily development opportunity in North Park. 6,250 SF lot with alley access, currently improved with a fully renovated Craftsman home. Approved plans call for demolition of the rear unit and construction of a new 13-unit apartment building (8,109 SF rentable) while preserving the front Craftsman, creating a unique 14-unit community. Plans deliver ready-to-issue for minimal construction delay. Prime infill location one block north of University Ave, near Balboa Park and Morley Field, with walkability to North Park's restaurants, breweries, shops, and entertainment. Easy access to transit, Downtown, Mission Valley, and major freeways.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1911
- Lot Size
- -
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
San Diego Unified Schools
Jefferson Elementary School
Grades K-5 • 0.2 mi
6/10
Garfield Elementary School
Grades K-5 • 0.8 mi
8/10
Birney Elementary School
Grades K-5 • 0.9 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.3 |
| Baths | 2.0 | 2.3 |
| Square foot | 1,312 | 1,777.941 |
| Lot Size | - | 6,474.445 |
| Price | $1.90M | $1.27M |
| Price per sq ft | $1.4K | $741 |
| Built year | 1911 | 1971 |
| HOA | $0 | $184 |
| Days on market | 20 | 40 |
Pricing History
Listed for Sale
Aug 20, 2026
$1,895,000
Initial Listing
Sold
Sep 18, 2023
$1,425,000
Public Record