
San Diego, California 92116
This High-Density Development Opportunity is listed at $639,999, positioned with stability relative to its $607,609 Fair Market Value. Marketed as a "CASH ONLY" fixer-upper with a Condition Rating of 6, the property’s primary value is its RM-3-9 zoning and location within a Transit Priority Area (TPA) and Complete Communities Plan. These designations provide powerful incentives for a modern multi-unit project in a high-demand urban corridor. This scalable asset is perfectly suited for Multi-Unit Developers or Cash Investors looking to maximize density in San Diego.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4531 Ohio St Subject | $639,999* List Price | 2 | 1 | 660 | $921 | - |
A 2120 Madison Ave Sold | $700,000 | 2 | 1 | 806 | $868 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1928 (96 years old) with no evidence of recent renovations; explicitly marketed as a 'FIXER UPPER' and 'CASH ONLY' development opportunity. Images show significant debris and structural exposure at the rear, indicating the property is likely unlivable and valued primarily for its RM-3-9 zoning and land potential.
Zoned RM-3-9 and situated within a Transit Priority Area (TPA) and Complete Communities Plan, this property offers significant density bonuses and incentives for multi-unit redevelopment.
Located in the highly sought-after University Heights/Normal Heights area, the property enjoys exceptional walkability to top-rated dining, retail, and major transit corridors.
The site is perfectly positioned for a high-yield rental project or a modern multi-unit development, capitalizing on San Diego’s progressive planning overlays and strong rental demand.
Marketed as a 'Fixer Upper' with a 'Cash Only' requirement, the property excludes traditional mortgage buyers, significantly limiting the pool of potential purchasers.
With only 660 square feet of living space on a very small 1,663 square foot lot, the current structure provides little value without a complete and costly redevelopment.
FIXER UPPER! CASH ONLY Development Opportunity nestled in one of San Diego’s most sought-after neighborhoods, this property offers an unbeatable location with close proximity to parks, top-rated restaurants, local shops, and major transit routes making it highly desirable for both homeowners and future tenants alike. Positioned within a Transit Priority Area (TPA), Complete Communities Plan area, and a Sustainable Development Area, this property benefits from some of the City’s most progressive planning overlays aimed at increasing housing supply and encouraging smart, transit-oriented growth. Combined with the RM-3-9 zoning, this creates a powerful opportunity for investors and developers to unlock additional density and maximize the site’s full potential. Whether you’re envisioning a **modern multi-unit development, income-producing rental units, or a strategic value-add renovation**, the flexibility here is real. These designations are specifically intended to support higher-density housing, and walkability, making this an ideal long-term hold or redevelopment play in a growth-focused corridor. With strong rental demand, continued urban infill, and limited opportunities in high-demand areas like this, properties with this combination of zoning and overlays are becoming increasingly rare. This is more than just a property, it’s a scalable investment aligned with the future of San Diego development. Don’t miss your chance to capitalize on the upside. Buyer to verify all zoning, development standards, density allowances, and applicable incentives with the City of San Diego.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 45% |
| Baths | 1.0 | 2.0 | 38% |
| Square foot | 660 | 1,497 | 12% |
| Lot Size | 1,663 | 4,998.5 | 17% |
| Price | $640.0K | $1.35M | 3% |
| Price per sq ft | $970 | $975 | 48% |
| Built year | 1928 | 1930 | 42% |
| HOA | $0 | $0 | 50% |
| Days on market | 5 | 158 | 6% |
Apr 17, 2026
$639,999
Initial Listing
Feb 22, 2019
$565,000
Public Record
Oct 14, 2015
$430,000
Public Record
May 14, 2015
$310,000
Public Record
Mar 11, 1994
$55,000
Public Record