
San Diego, California 92117
This Development-Ready Income Asset is listed at $1,200,000, reflecting a stable valuation relative to its $1,179,499 Fair Market Value. While the existing residence boasts an Excellent Condition Rating following a high-end renovation, the primary investment driver is the 8,800 SF Lot featuring Four-Unit ADU Plans currently in the approval pipeline. Located in Clairemont Mesa near the 9/10-rated Holmes Elementary, the property is optimized for high rental demand and long-term appreciation. This is a premier opportunity for Seasoned Developers or Growth-Focused Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4597 Acoma Avenue Subject | $1,075,000* List Price | 4 | 2 | 1,317 | $876 | - |
A 4822 Mount La Palma Drive Sold | $1,255,000 | 4 | 2 | 1,600 | $784 | 0.4 mi |
B 4813 Boise Avenue Sold | $1,170,000 | 3 | 2 | 1,356 | $863 | 0.1 mi |
C 5137 Derrick Court Sold | $960,000 | 3 | 1 | 1,008 | $952 | 0.7 mi |
D 4862 Kings Sold | $987,000 | 3 | 1 | 1,008 | $979 | 0.3 mi |
E 5266 Diane Avenue Sold | $1,249,000 | 3 | 2 | 1,395 | $895 | 0.8 mi |
F 4725 Conrad Sold | $920,000 | 3 | 2 | 1,008 | $913 | 0.4 mi |
G 5372 Barstow Street Active | $1,125,000 List Price | 4 | 2 | 1,279 | $880 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property has undergone a complete high-end renovation within the last few years, featuring a modern open-concept kitchen with white shaker cabinets, quartz countertops, and stainless steel appliances. The interior boasts new luxury vinyl plank flooring, recessed lighting, vaulted ceilings with exposed beams, and updated bathrooms with contemporary vanities and fixtures. Additionally, the home includes new ductless mini-split HVAC systems and updated windows, meeting the highest standards for move-in readiness.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8800, living area = 1317.
Elementary School: Holmes Elementary School (9/10).
Plans for four brand-new ADUs are already well into the approval process, significantly reducing the typical multi-year lead time for permitting and pre-construction groundwork.
Beyond the acquisition cost, the buyer must secure substantial financing for the construction of two detached duplexes, posing a financial hurdle for less-capitalized investors.
Realizing the property's full potential requires navigating a major construction phase, which limits immediate rental stability and eliminates appeal for traditional owner-occupants.
This property presents a rare chance to capitalize on San Diego's thriving rental market. Plans for four brand-new ADUs — two 430 SF and two 650 SF units across two detached duplexes — are well into the approval process, giving an incoming buyer a significant head start toward five total income-producing units on a single 8,800 SF lot, without the years of groundwork typically required to get here. The design is thoughtful and built to attract quality tenants from day one — modern finishes, private entries, in-unit laundry, and efficient ductless HVAC in every unit. Once stabilized, the project is positioned to generate strong monthly cash flow in a neighborhood where rental demand is consistent, vacancy is low, and new construction commands a premium. Clairemont Mesa's central location puts tenants minutes from USD, UCSD, Mission Bay, Fashion Valley, and every major employment corridor in the county via the I-5 and I-805 — the kind of location that makes units easy to fill and easy to keep filled. Whether you're a seasoned developer ready to carry the plans across the finish line or a growing investor looking to build a high-performing multi-unit asset, the hard work here is already well underway. The plans are in place, the market is strong, and the upside is real.
No exterior & parking available.
Grades K-6 • 0.4 mi
Grades K-6 • 0.6 mi
Grades K-6 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 56% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,317 | 1,493.5 | 29% |
| Lot Size | 8,800 | 6,300 | 80% |
| Price | $1.07M | $1.20M | 35% |
| Price per sq ft | $816 | $792 | 56% |
| Built year | 1975 | 1961 | 87% |
| HOA | $0 | $0 | 50% |
| Days on market | 34 | 153 | 7% |
Apr 17, 2026
$1,075,000
$1,200,000
-10% Price Drop
Initial Listing
Mar 19, 2026
$1,200,000
Initial Listing
Aug 17, 2023
$935,000
Public Record
Jul 25, 2023
$775,000
Public Record
Nov 16, 2012
$425,000
Public Record