4941 Gary St., San Diego, California 92115, San Diego, 92115 - 8 bed, 4 bath
ACTIVE$1,725,000$2,770/sqft
Est. Value: $1,650,084
-4%
AboveEstimate
4941 Gary St., San Diego, California 92115
8Beds
4Baths
2,770Sqft
Lot
Price Vs. Estimate
The estimated value ($1,650,084.07) is $74,915.93 (4%) lower than the list price ($1,725,000). This property may be overpriced.
Key pros and cons
Top Pros:
Great Schools: Elementary School: Hearst Elementary School (10/10).
Top Cons:
Age of Property & Potential for Deferred Maintenance: Built in 1955, the property is nearly 70 years old. Without explicit mention of recent major renovations or system updates, there's a higher likelihood of needing future investments in plumbing, electrical, roofing, or other structural components.
Compared to the nearby listings
Price:$1.73M vs avg $937.5K (+$787,500)94%
Size:2,770 sqft vs avg 1,344.5 sqft93%
Price/sqft:$623 vs avg $69533%
More Insights
Built in 1955 (71 years old).
Condition: The property, built in 1955, features two distinct units. The main house (4941 Gary) has been extensively renovated with updated kitchens (dark wood cabinets, granite countertops, stainless steel appliances) and bathrooms (travertine-style tiling, modern vanities), recessed lighting, and good quality flooring (tile and laminate). While the style of these renovations might be 5-15 years old, they are well-maintained and move-in ready. The ADU (6485 Montezuma) appears to be a much more recent construction or renovation, boasting a very modern aesthetic with white shaker cabinets, light countertops, subway tile backsplash, black stainless steel appliances, and contemporary bathrooms with walk-in showers. The ADU's condition is excellent, elevating the overall property quality. Considering both units, the property is move-in ready with no immediate renovations required, fitting the 'Good' category, with the ADU pushing it towards the higher end of this score.
Year Built
1955
Close
-
List price
$1.73M
Original List price
$1.73M
Price/Sqft
$623
HOA
-
Days on market
-
Sold On
-
MLS number
2600802SD
Home ConditionGood
Features
Patio
View-
About this home
College Area stabilized cash flow! 4941 Gary (main house) leased to June 2026 $6800/mo. 6485 Montezuma (ADU) leased to June 2026 $5450/mo total rent: $12,250/mo. Professional property management specializing in College Area in place if desired. Main house is single level and spacious 4bed/2Bath 1570sqft. ADU has a completely separate entrance from Montezuma with private driveway and parking. Each unit has its own dedicated yard space.
J
Joel Berman
Listing Agent
Nearby schools
5/10
Clay Elementary School
Public,•K-5•0.4mi
4/10
Rolando Elementary School
Public,•K-6•0.8mi
10/10
Hearst Elementary School
Public,•K-5•1.0mi
8/10
Hardy Elementary School
Public,•K-5•1.2mi
3/10
Fay Elementary School
Public,•K-5•1.9mi
5/10
Foster Elementary School
Public,•K-5•2.1mi
4/10
Franklin Elementary School
Public,•K-5•2.7mi
4/10
Mann Middle School
Public,•6-8•1.4mi
/10
La Mesa Middle School
Public,•7-8•2.0mi
8/10
La Mesa Arts Academy
Public,•4-8•2.0mi
8/10
Lewis Middle School
Public,•6-8•2.2mi
/10
La Mesa-Spring Valley Home School/Independent Study
Public,•K-8•3.0mi
4/10
Wilson Middle School
Public,•6-8•3.2mi
6/10
Science, Technology, Engineering, Arts, And Math Academy At La Presa
Public,•4-8•5.0mi
4/10
Crawford High School
Public,•9-12•1.6mi
8/10
Patrick Henry High School
Public,•9-12•1.9mi
5/10
Hoover High School
Public,•9-12•2.4mi
7/10
Grossmont High School
Public,•9-12•4.4mi
3/10
Idea Center
Public,•9-12•5.7mi
Price History
Date
Event
Price
06/12/19
Sold
$650,000
Condition Rating
Good
The property, built in 1955, features two distinct units. The main house (4941 Gary) has been extensively renovated with updated kitchens (dark wood cabinets, granite countertops, stainless steel appliances) and bathrooms (travertine-style tiling, modern vanities), recessed lighting, and good quality flooring (tile and laminate). While the style of these renovations might be 5-15 years old, they are well-maintained and move-in ready. The ADU (6485 Montezuma) appears to be a much more recent construction or renovation, boasting a very modern aesthetic with white shaker cabinets, light countertops, subway tile backsplash, black stainless steel appliances, and contemporary bathrooms with walk-in showers. The ADU's condition is excellent, elevating the overall property quality. Considering both units, the property is move-in ready with no immediate renovations required, fitting the 'Good' category, with the ADU pushing it towards the higher end of this score.
Pros & Cons
Pros
Great Schools: Elementary School: Hearst Elementary School (10/10).
Exceptional Rental Income & Cash Flow: The property generates a substantial total rent of $12,250 per month, providing a strong and stabilized cash flow, making it an attractive investment opportunity.
Stabilized Occupancy with Long-Term Leases: Both the main house and the ADU are leased until June 2026, ensuring immediate and consistent revenue for the buyer without the immediate need for tenant placement.
Dedicated ADU with Private Amenities: The Accessory Dwelling Unit (ADU) features a completely separate entrance, private driveway, parking, and its own dedicated yard space, maximizing its independence and rental appeal.
Strategic College Area Location: Located in San Diego's desirable College Area, the property benefits from a strong rental market, likely due to its proximity to educational institutions and local amenities, contributing to high demand.
Turnkey Investment with Management Option: The availability of professional property management specializing in the College Area offers a convenient, hands-off investment solution for buyers seeking passive income.
Cons
Age of Property & Potential for Deferred Maintenance: Built in 1955, the property is nearly 70 years old. Without explicit mention of recent major renovations or system updates, there's a higher likelihood of needing future investments in plumbing, electrical, roofing, or other structural components.
Significant Price Increase Since Last Sale: The current list price of $1.725M represents a substantial increase from its $650,000 sale price in 2019, which may warrant a thorough review of recent comparable sales and the property's current condition to justify the valuation.
Limited Information on Interior Condition/Upgrades: The property description emphasizes rental income and ADU features but lacks details regarding the interior condition, finishes, or any recent upgrades to either the main house or the ADU, potentially indicating dated aesthetics or systems.