5415 Mary Lane Drive, San Diego, California 92115, San Diego, 92115 - 3 bed, 2 bath
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5415 Mary Lane Drive
San Diego, California 92115
ACTIVE
CONDITION: TEAR DOWN
3Beds
2Baths
1,478Sq Ft
13,400Lot Size
Property Price
LIST PRICE$1,200,000
EST. MARKET VALUE
$1,195,169
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $1,425,000—positioned slightly above the $1,416,345 Fair Market Value. While the home carries a Condition Rating of 6, its original 1955 state and massive 13,400 sqft lot offer significant Expansion Potential for student housing near SDSU. The hillside location provides Panoramic Views, adding long-term appeal. This asset is a strategic acquisition for Buy-and-Hold Investors or Developers focused on maximizing rental yield through renovation and footprint expansion in a high-demand college market.
Estimated Market Value
$1,195,169
Based on Realkey algorithm analyzing recent comparable sales in San Diego.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5415 Mary Lane Drive Subject | $1,200,000* List Price | 3 | 2 | 1,478 | $809 | - |
A 5556 Baja Dr Active | $995,000 List Price | 3 | 2 | 1,153 | $863 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
The property was built in 1955 and the listing explicitly states it is in original condition with no upgrades performed in nearly 70 years. Per the criteria, a home over 50 years old with no renovations is classified as a tear-down, as it likely requires a total overhaul of all systems, kitchen, and baths.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13400, living area = 1478.
- Strategic Investment Location
Situated just blocks from SDSU in a 'mini-dorm' neighborhood, this property offers exceptional potential for high-yield student housing rentals.
- Significant Expansion Potential
The oversized 13,400 sqft lot and hillside positioning provide a rare opportunity to expand the footprint and add rooms to maximize rental income.
CONSRISKS & DEFICIENCIES
- Original As-Is Condition
The home is in its original 1955 state with no modern upgrades, requiring a substantial capital investment for renovations and modernization.
- Lack of Seller Improvements
The seller will not perform any repairs or upgrades, placing the full burden of deferred maintenance and necessary improvements on the buyer.
About 5415 Mary Lane Drive
Unique investment opportunity to purchase within the neighborhood of mini-dorm homes close to SDSU & only a few short walking blocks to the college, restautants, shops and conveniences. Property has potential for expansion build out to accommodate additional rooms for student housing. House is original with oak hardwood flooring. No upgrades have been done. Seller will not make any improvements and is sold in it's present condition. Backyard views and extends down the hillside to the bottom fence line.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1955
- Lot Size
- 13,400 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
San Diego Unified Schools
Hardy Elementary School
Grades K-5 • 0.1 mi
8/10
Clay Elementary School
Grades K-5 • 1.3 mi
5/10
Fay Elementary School
Grades K-5 • 1.4 mi
3/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.3 |
| Baths | 2.0 | 2.3 |
| Square foot | 1,478 | 1,777.941 |
| Lot Size | 13,400 | 6,474.445 |
| Price | $1.20M | $1.27M |
| Price per sq ft | $812 | $741 |
| Built year | 1955 | 1971 |
| HOA | $0 | $184 |
| Days on market | 40 | 40 |
Pricing History
Listed for Sale
Sep 4, 2026
$1,200,000
$1,425,000
-16% Price Drop
Initial Listing
Price Change
Jul 31, 2026
$1,425,000
Initial Listing