4042 1st Avenue, San Diego, California 92103, San Diego, 92103 - 3 bed, 1 bath
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4042 1st Avenue
San Diego, California 92103
ACTIVE
CONDITION: TEAR DOWN
3Beds
1Baths
1,129Sq Ft
5,198Lot Size
Property Price
LIST PRICE$1,550,000
EST. MARKET VALUE
$1,457,447
6% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $1,550,000—positioned above the $1,457,448 Fair Market Value. While the current structure provides immediate holding income of $3,000/month, the true value lies in its RM-3-9 Zoning and Complete Communities Tier 2 designation. With a Condition Rating of 6, this site is a prime candidate for redevelopment rather than renovation. This is an ideal acquisition for Urban Infill Developers or Buy-and-Hold Investors seeking to maximize density in a high-demand transit priority area.
Estimated Market Value
$1,457,447
Based on Realkey algorithm analyzing recent comparable sales in San Diego.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
Although the metadata lists a 2020 build date, the property is marketed exclusively as an 'urban infill development opportunity' with RM-3-9 zoning. The 'drive-by only' restriction and focus on FAR, density, and transit priority incentives indicate the existing structure is a tear-down intended for redevelopment.
PROSSTRENGTHS & OPPORTUNITIES
- High-Density Development Potential
Zoned RM-3-9 and situated within the Complete Communities Tier 2 and Transit Priority Area, the property offers significant density and FAR bonuses for a lucrative urban infill project.
- Strategic Hillcrest Location
The site boasts exceptional walkability to neighborhood dining, shopping, and major medical facilities, with rapid access to Balboa Park and Downtown San Diego.
- Immediate Holding Income
The existing residence generates approximately $3,000 per month in rental income, providing a steady cash flow to offset carrying costs during the entitlement and planning phases.
CONSRISKS & DEFICIENCIES
- Restricted Physical Due Diligence
The 'drive-by only' restriction and instruction not to disturb occupants prevent a thorough interior inspection, increasing the initial risk for the buyer.
- Regulatory Confirmation Required
Development potential, including density, parking requirements, and incentive eligibility, is not guaranteed and requires extensive verification with the City of San Diego.
About 4042 1st Avenue
4042 First Avenue presents an urban infill development opportunity in San Diego’s Hillcrest neighborhood. The approximately 5,198-square-foot lot is improved with an existing single-family residence generating approximately $3,000 per month in rental income, providing potential income during the planning process. The property is zoned RM-3-9 and is identified within the Complete Communities Housing Solutions Tier 2 area, Sustainable Development Area and Transit Priority Area. The site offers convenient access to neighborhood dining, shopping, medical facilities, Balboa Park, Downtown San Diego and regional transportation corridors. Development potential, density, FAR, height, parking requirements and eligibility for incentive programs are subject to confirmation by the buyer with the City of San Diego and applicable consultants. Do not disturb the occupant. Drive by only.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 2020
- Lot Size
- 5,198 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
San Diego Unified Schools
Florence Elementary School
Grades K-5 • 0.1 mi
8/10
Birney Elementary School
Grades K-5 • 1.0 mi
8/10
Washington Elementary School
Grades K-5 • 1.8 mi
5/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.3 |
| Baths | 1.0 | 2.3 |
| Square foot | 1,129 | 1,777.941 |
| Lot Size | 5,198 | 6,474.445 |
| Price | $1.55M | $1.27M |
| Price per sq ft | $1.4K | $741 |
| Built year | 2020 | 1971 |
| HOA | $0 | $184 |
| Days on market | 8 | 40 |
Pricing History
Listed for Sale
Sep 1, 2026
$1,550,000
Initial Listing
Sold
Jul 10, 2024
$1,560,000
Public Record
Sold
Jul 17, 2019
$1,200,000
Public Record