420 S 45th St, San Diego, California 92113, San Diego, 92113 - 2 bed, 2 bath
ACTIVE$770,000
420 S 45th St, San Diego, California 92113
2Beds
2Baths
884Sqft
6,795Lot
Price Vs. Estimate
The estimated value ($490,071.785) is $279,928.215 (36%) lower than the list price ($770,000). This property may be overpriced.
Key pros and cons
Top Pros:
Development Potential: The R-4 zoning is a significant asset, allowing for the construction of multiple units, which is highly desirable in the San Diego market.
Top Cons:
Significant Price Discrepancy: The listing price of $770,000 is substantially higher than the estimated property value of $490,071.78, indicating a premium for development potential that may require strong justification.
Compared to the nearby listings
Price:$770.0K vs avg $683.5K (+$86,500)83%
Size:884 sqft vs avg 1,092 sqft21%
Price/sqft:$871 vs avg $58988%
More Insights
Built in 1945 (80 years old).
Condition: The property, built in 1945, features a recently updated kitchen with modern white shaker cabinets, light countertops, and LVP flooring, which is a significant positive. However, the bathroom is notably outdated with pink tiled walls and older fixtures, requiring substantial renovation to meet current standards. Other areas show signs of age, such as older carpeting in the bedroom and a utilitarian laundry area. While the kitchen update is good, the overall condition, particularly the bathroom, prevents it from being rated 'Good' as it requires more than minor updates in key areas. The property is functional and livable, but not extensively renovated throughout.
Year Built
1945
Close
-
List price
$770K
Original List price
$770K
Price/Sqft
$871
HOA
-
Days on market
-
Sold On
-
MLS number
250023509SD
Home ConditionFair
Features
Patio
View-
About this home
Discover an exceptional property opportunity with R-4 zoning, ideal for those looking to build multiple units. This spacious lot offers great potential and is conveniently located with easy access to the freeway, making it a prime location for future development. The charming two-bedroom, one-bath home on the property features a recently updated kitchen, enhancing its appeal for renters or potential buyers. This super cute residence is ready for you to move in or use while you explore your development options. Don’t miss out on this must-see property!
Condition Rating
Fair
The property, built in 1945, features a recently updated kitchen with modern white shaker cabinets, light countertops, and LVP flooring, which is a significant positive. However, the bathroom is notably outdated with pink tiled walls and older fixtures, requiring substantial renovation to meet current standards. Other areas show signs of age, such as older carpeting in the bedroom and a utilitarian laundry area. While the kitchen update is good, the overall condition, particularly the bathroom, prevents it from being rated 'Good' as it requires more than minor updates in key areas. The property is functional and livable, but not extensively renovated throughout.
Pros & Cons
Pros
Development Potential: The R-4 zoning is a significant asset, allowing for the construction of multiple units, which is highly desirable in the San Diego market.
Spacious Lot: The generous 6,795 sqft lot provides ample space for substantial redevelopment or expansion, maximizing the R-4 zoning benefits.
Strategic Location: Conveniently located with easy freeway access, enhancing its appeal for future residents, tenants, and overall investment value.
Updated Kitchen: The existing two-bedroom home features a recently updated kitchen, adding immediate appeal and value for renters or temporary occupancy.
Immediate Usability: The current 'super cute' residence is move-in ready, offering flexibility for the buyer to live in, rent out, or use while planning future development.
Cons
Significant Price Discrepancy: The listing price of $770,000 is substantially higher than the estimated property value of $490,071.78, indicating a premium for development potential that may require strong justification.
Small Existing Structure: The current 2-bedroom, 1-bath home is only 884 sqft, which is relatively small and may not appeal to buyers seeking a larger primary residence without immediate redevelopment plans.
Age-Related Maintenance: Built in 1945, the property's age could lead to unforeseen maintenance costs or require extensive renovations beyond the kitchen update to meet modern standards or preferences.