3905 Ibis St, San Diego, California 92103, San Diego, 92103 - 3 bed, 2 bath
ACTIVE$995,000$1,452/sqft
Est. Value: $986,398
%
FairlyEstimate
3905 Ibis St, San Diego, California 92103
3Beds
2Baths
1,452Sqft
5,600Lot
Price Vs. Estimate
The estimated value ($986,398.25) is $8,601.75 (0%) lower than the list price ($995,000). This property may be overpriced.
Key pros and cons
Top Pros:
High-Density Development Potential: Exceptional opportunity due to high-density zoning (6 units base, 10,000 SF buildable) and 'Complete Communities' incentives (8.0 FAR, no maximum unit count), offering significant upside for multi-unit residential projects.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =5600, other record lot size in square feet = 4492. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
Compared to the nearby listings
Price:$995.0K vs avg $1.79M ($-794,950)3%
Size:1,452 sqft vs avg 1,854.5 sqft23%
Price/sqft:$685 vs avg $9527%
More Insights
Built in 1950 (76 years old).
Condition: Built in 1950, this property shows extensive signs of severe disrepair and neglect, with no apparent major renovations in decades. The kitchen is extremely outdated with original 1950s cabinets, damaged countertops, and no visible appliances, suggesting it's non-functional. Interior walls have peeling paint and wallpaper, ceilings are damaged, and flooring is worn and peeling throughout. The exterior is also in poor condition. The listing itself markets it as a 'Developer Opportunity' and states it 'likely requires significant renovation or demolition,' indicating the value is primarily in the land for redevelopment, consistent with a tear-down classification.
Year Built
1950
Close
-
List price
$995K
Original List price
$995K
Price/Sqft
$685
HOA
-
Days on market
-
Sold On
-
MLS number
2600235SD
Home ConditionTear down
Features
Good View:
Deck
Patio
View
About this home
Developer Opportunity | High-Density Zoning | Complete Communities 3905 Ibis St is a 3 BD/2 BA house with 1,452 SF situated on an approximately 5,600 SF lot. An ideal house flip or ADU play, located in highly desirable Mission Hills! Base zoning allows 1 unit per 1,000 SF, providing a base density of 6 units, along with a 1.8 FAR, supporting roughly 10,000 SF of buildable area. The site is also within Complete Communities which allows an 8.0 FAR. This flexibility creates meaningful upside for developers pursuing multi-unit residential with no maximum unit count. The combination of a large existing home on a flat lot, strong baseline zoning, Complete Communities incentives, and a well-located infill parcel makes 3905 Ibis St an exceptional candidate for investors focused on long-term appreciation.
M
Mike Cady
Listing Agent
Nearby schools
8/10
Florence Elementary School
Public,•K-5•0.5mi
8/10
Birney Elementary School
Public,•K-5•1.5mi
5/10
Washington Elementary School
Public,•K-5•1.7mi
4/10
Carson Elementary School
Public,•K-5•2.0mi
8/10
Dewey Elementary School
Public,•K-4•2.0mi
8/10
Grant K-8
Public,•K-8•0.2mi
5/10
Roosevelt International Middle School
Public,•6-8•1.6mi
6/10
Correia Middle School
Public,•7-8•3.4mi
6/10
Dana
Public,•5-6•3.7mi
4/10
Montgomery Middle School
Public,•7-8•13.7mi
7/10
Point Loma High School
Public,•9-12•3.2mi
8/10
Kearny Construction Tech School
Public,•9-12•3.6mi
Price History
Date
Event
Price
05/30/19
Sold
$697,000
04/05/19
Sold
$575,000
Condition Rating
Tear down
Built in 1950, this property shows extensive signs of severe disrepair and neglect, with no apparent major renovations in decades. The kitchen is extremely outdated with original 1950s cabinets, damaged countertops, and no visible appliances, suggesting it's non-functional. Interior walls have peeling paint and wallpaper, ceilings are damaged, and flooring is worn and peeling throughout. The exterior is also in poor condition. The listing itself markets it as a 'Developer Opportunity' and states it 'likely requires significant renovation or demolition,' indicating the value is primarily in the land for redevelopment, consistent with a tear-down classification.
Pros & Cons
Pros
High-Density Development Potential: Exceptional opportunity due to high-density zoning (6 units base, 10,000 SF buildable) and 'Complete Communities' incentives (8.0 FAR, no maximum unit count), offering significant upside for multi-unit residential projects.
Prime Mission Hills Location: Situated in a highly desirable and well-located infill parcel within the sought-after Mission Hills neighborhood, ensuring strong market demand and long-term appreciation.
Versatile Investment Profile: Ideal for various investment strategies, including a profitable house flip, ADU development, or a substantial multi-unit residential redevelopment.
Generous & Flat Lot: The approximately 5,600 SF flat lot provides an optimal and easily buildable foundation for extensive development or expansion.
Desirable Amenities & Views: Benefits from proximity to highly-rated schools (e.g., Grant K-8, Florence Elementary) and the added appeal of having a view.
Cons
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =5600, other record lot size in square feet = 4492. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
Age of Existing Structure: Built in 1950, the current 74-year-old home likely requires significant renovation or demolition, adding substantial initial costs to any development plan.
Substantial Capital Outlay: The list price of $995,000, coupled with the extensive costs associated with high-density development or major renovation, necessitates a significant initial investment.
Development Complexity: While offering high potential, maximizing the zoning and 'Complete Communities' benefits involves navigating complex planning, permitting, and construction processes, which may require specialized expertise.