4286 51st St, San Diego, California 92115, San Diego, 92115 - 8 bed, 8 bath
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San Diego, California 92115
Analysis of 4286 51st St, San Diego, California 92115 is currently available with a list price of $875,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the San Diego Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
The property was built in 1929 (>50 years old) and is being marketed as a 'shovel-ready' development opportunity for a 6-unit project. This indicates the existing structure has no contributory value and the listing is priced for land value and entitlements.
The project is positioned for immediate execution with plans already in place, significantly reducing the entitlement risk and lead time typically associated with San Diego multifamily permits.
With a projected 9.42% cap rate, the development offers an exceptionally strong return on investment for the San Diego market, supported by an efficient unit mix and high rental demand.
Located in a centrally positioned infill market just south of Talmadge and steps from Colina Park, the property ensures long-term tenant demand and excellent proximity to local amenities.
The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 3125, living area = 3194.
The inclusion of one designated affordable unit limits the maximum potential gross income, as the rent for that unit is restricted below market rates.
As a ground-up development, the project remains subject to fluctuating material costs and labor availability, requiring significant capital and oversight to reach stabilization.
4286 51st Street is a shovel-ready 6-unit multifamily development opportunity positioned for immediate execution in a centrally located San Diego infill market. Just south of Talmadge and steps to Colina Park. With plans centered around an efficient mix of two-bedroom and one-bedroom residences with in unit laundry, the project is designed to deliver strong rentability, durable income, and multiple exit strategies for the next owner. The design is distinctive: a stepped roofline and high ceilings that gives each unit architectural identity. For builders, developers, and private investors seeking yield, basis control, and a defined path to stabilization, this project represents a compelling shovel-ready opportunity with economics that are easy to underwrite and a location positioned for long-term tenant demand. 9.42% project cap rate UNIT MIX 2 2bed 2 bath units and 3 1 bed 1 bath units 1 1 bed 1 bath affordable
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 8.0 | 3.0 |
| Baths | 8.0 | 2.0 |
| Square foot | 3,194 | 1,777 |
| Lot Size | - | 6,600 |
| Price | $875.0K | $1.24M |
| Price per sq ft | $274 | $743 |
| Built year | 1929 | 1972 |
| HOA | $0 | $200 |
| Days on market | 14 | 39 |
Jul 8, 2026
$875,000
Initial Listing
Dec 12, 2024
$429,000
Public Record