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5051 63rd St, San Diego, California 92115, San Diego, 92115 - 7 bed, 5 bath

5051 63rd St, San Diego, California 92115 home-pic-0
ACTIVE$2,200,000
5051 63rd St, San Diego, California 92115
7Beds
5Baths
2,719Sqft
9,500Lot
Year Built
1954
Close
-
List price
$2.2M
Original List price
$2.2M
Price/Sqft
$809
HOA
-
Days on market
-
Sold On
-
MLS number
250045867SD
Home ConditionGood
Features
View-

About this home

Possibly Over-Priced:The estimated price is 13% below the list price. We found 3 Cons,5 Pros. Rank: price - $2.20M(97th), sqft - 2719(93th), beds - 7(96th), baths - 5(99th).

Looking for an investment property? This is the one! Located in the core of San Diego State University's College Area, steps to Montezuma Rd, campus, and is now zoned multifamily RM-2-5. This oversized 9,500 SF parcel features two dwelling units, a 2-car garage, wide driveway, and plenty of space to build additional units. This property comes leased with zero vacancy. The Large main house has room to expand, and the rare 1-story detached 1200sf ADU is very desirable to the rental market and located in the back of the parcel, leaving the middle open for development. Home is located in the AREA B Parking permit district, allowing the parcel to qualify for up to 8 on-street parking passes each year for the residents.

Price History

Date
Event
Price
12/17/25
Listing
$2,200,000
Condition Rating
Good
While the main house was built in 1954, the property benefits significantly from a newly constructed or extensively renovated 1200 sqft detached ADU, featuring a modern kitchen with white shaker cabinets, granite countertops, stainless steel appliances, and new flooring. The main house also shows evidence of updates, including a modern bathroom with new vanity, toilet, and glass shower enclosure. Other areas of the main house, though older in style, appear well-maintained with hardwood floors and neutral paint. The property is move-in ready with no immediate major renovations required, aligning with a 'Good' condition score.
Pros & Cons

Pros

Multifamily Zoning & Development Potential: Zoned RM-2-5 on an oversized 9,500 SF parcel, offering significant potential to build additional units and maximize investment returns.
Prime University Location: Strategically located in the core of San Diego State University's College Area, ensuring high rental demand and consistent occupancy.
Existing Income & Zero Vacancy: The property is currently leased with zero vacancy, providing immediate cash flow and demonstrating proven market desirability.
Detached ADU: Features a rare 1-story detached 1200 sqft ADU, highly desirable in the rental market and contributing significantly to rental income.
Parking Advantage: Located in AREA B Parking permit district, allowing qualification for up to 8 on-street parking passes, a crucial amenity in a dense university area.

Cons

Age of Property: Built in 1954, the property may require significant updates, renovations, or ongoing maintenance to meet modern standards and tenant expectations.
Required Capital for Maximized Potential: While offering development potential, realizing the full value of additional units or expanding the main house will necessitate substantial further investment.
High Entry Price: The list price of $2.2 million represents a significant initial investment, potentially limiting the pool of prospective buyers despite the strong upside.

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