5205 Tipton St, San Diego, California 92115, San Diego, 92115 - 2 bed, 1 bath
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San Diego, California 92115
Analysis of 5205 Tipton St, San Diego, California 92115 is currently available with a list price of $1,199,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the San Diego Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
The property is over 70 years old (built 1951) and is being marketed primarily as a development opportunity for its land value and approved entitlements. While the exterior appears maintained, the listing focuses on approved plans to convert the existing 936 sqft structure into a large ADU and build an additional SFD, indicating the current interior and systems are obsolete for the property's highest and best use.
Permits are ready to issue with fully approved plans and entitlements in hand, eliminating the entitlement risk and lengthy wait times typically associated with San Diego development.
Located in the prime SDSU rental corridor, the 11-bedroom project is projected to generate $15,050 in gross monthly income, offering an exceptional potential return for student housing investors.
The property includes a clear path to add a third unit by-right in Phase 2, allowing for additional density and income growth beyond the currently approved two-unit plans.
The property was recently sold within the past year on 2025-09-15. The sold price is $935,000.00.
The existing 936 sqft home requires a full-scale conversion and expansion to realize the projected returns, necessitating substantial additional capital and construction management.
At nearly $1.2M for the current 2-bedroom structure, the acquisition cost is heavily weighted toward the land and permits, which may limit the pool of traditional residential buyers.
Permits ready to issue on an approved 2-unit project in the heart of SDSU's rental corridor — plans are approved and entitlements are in hand,zoned RS-1-7 within the SDA, TPA, and College Community Plan. No entitlement risk, no waiting; approved plans convert the existing SFR intoa 5BD/3BA ADU and 6BD/2.5BA SFD totaling 3,048 SF across two large-format units purpose-built for the student rental market. Oncestabilized, the project is projected to generate $15,050/month in gross rental income. Phase 2 presents a clear path to adding a 3rd unit by-right in the rear, unlocking additional density and income upside beyond what's already approved. Plans in Documents tab.
No exterior & parking available.
Grades K-5 • 0.7 mi
Grades K-5 • 1.0 mi
Grades 6-8 • 1.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 27% |
| Baths | 1.0 | 2.0 | 27% |
| Square foot | 936 | 1,327 | 15% |
| Lot Size | - | 6,098.2 | 20% |
| Price | $1.20M | $950.0K | 75% |
| Price per sq ft | $1.3K | $732 | 99% |
| Built year | 1951 | 1951 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 16 | 129 | 14% |
May 28, 2026
$1,199,000
Initial Listing
Sep 15, 2025
$935,000
Public Record