4581 Georgia Street, San Diego, California 92116, San Diego, 92116 - 5 bed, 4 bath
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San Diego, California 92116
This property presents a Prime Investment Opportunity with a List Price of $1,570,000—positioned well below the $1,605,201 Fair Market Value by 2%. This valuation gap offers $35,201 in Instant Equity. Featuring a 5-bedroom, 4-bath multi-unit configuration on a 5,249 SF lot, the property has a Condition Rating of 5, indicating significant renovation needs. With 4 parking spaces and high walkability in University Heights, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking income-generating assets.
University Heights multi-unit property for sale. 5BD/4BA investment opportunity with 3 units, 4 parking spaces, and instant equity potential in San Diego.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4581 Georgia Street Subject | $1,570,000* List Price | 5 | 4 | 3,258 | $493 | - |
A 4655 Campus Ave Active | $1,449,500 List Price | 5 | 3 | 2,688 | $539 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1977 and nearly 50 years old, the property requires significant rehab. While the description highlights investment potential, the provided images show a room with exposed plumbing, missing drywall, and exposed insulation, indicating major system repairs or unfinished renovations. The lack of interior photos for the main living areas, combined with the visible state of the utility/bathroom area, suggests the property does not meet 'Fair' move-in standards and has safety/maintenance defects.
The property features three separate dwellings on one lot, allowing an owner-occupant to live in the main 3BD home while generating substantial rental income from the two additional 1BD units.
Situated in the heart of University Heights, the property boasts an exceptional walk score with immediate access to Park Boulevard’s trendy restaurants, craft breweries, and proximity to Balboa Park.
Unlike most properties in this dense neighborhood, this lot provides four parking spaces, including a three-car covered carport and 615 square feet of dedicated storage space.
The reliance on floor plans instead of interior photos due to tenant privacy may hinder initial buyer interest and makes it difficult to assess the current aesthetic condition without a physical tour.
With three separate units occupying a 5,249 SF lot, private outdoor yard space is limited, which may be a drawback for buyers seeking traditional single-family residential privacy.
3 homes for the price of 1! Live in one and use the income of the other two to offset your mortgage. Set on a 5,249 SF lot in one of San Diego's most walkable, sought-after urban neighborhoods, the charming 3BD/2BA main home offers the character, space, and location you have been searching for, with two additional income-producing units that make this property a smart investment now and into the future. The main residence lives like a classic University Heights gem: 1,334 SF with a bonus office/flex space, enclosed sunroom, in-unit laundry, full kitchen, large porch, and unique finishes throughout. What sets this property apart is the ability to generate income. Two additional units on the lot, a 529 SF 1BD/1BA and a 546 SF 1BD/1BA, both with full kitchens, quality appliances, and light-filled interiors, offer a rare opportunity to live in one unit or the main house while offsetting your mortgage with rental income, house a family member nearby, or create a dedicated guest or work space. Floor plans are provided in lieu of photography to respect current tenant privacy. Additional amenities include on-site laundry, 615 SF of storage, and 4 parking spaces (3 covered carport with storage and alley access) very rare and valuable finds in this part of the city. Location is everything here: walkable Park Boulevard living with independent restaurants, craft breweries, coffee shops, and live music just steps away. Old Trolley Barn Park nearby. Kensington, Normal Heights, Hillcrest, and North Park all within easy reach, with Balboa Park moments away. Downtown is 15–25 minutes via CA-163/I-8, and San Diego International Airport is under 5 miles out. Whether you're a buyer looking to live in a character-filled University Heights home with income potential, or you want extra space for multigenerational living, 4581 Georgia Street offers a rare combination of lifestyle and long-term value in a neighborhood where unique income asset generating properties are becoming harder to find!
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.6 mi
Grades K-5 • 1.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 3.0 |
| Baths | 4.0 | 2.0 |
| Square foot | 3,258 | 1,777 |
| Lot Size | 5,249 | 6,600 |
| Price | $1.57M | $1.24M |
| Price per sq ft | $482 | $743 |
| Built year | 1977 | 1972 |
| HOA | $0 | $200 |
| Days on market | 23 | 39 |
Jun 29, 2026
$1,570,000
Initial Listing