
San Diego, California 92120
This 2-bedroom condominium represents a High-Potential Investment Opportunity, listed at $379,000—positioned slightly above the $371,873 Fair Market Value. Despite the minor premium, the property’s Fair Condition Rating and proximity to SDSU make it a prime candidate for rental income. Featuring vaulted ceilings, dual-pane windows, and community pool/spa access, this unit offers significant utility for tenants. With its central location and VA-approved status, this asset is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a stable, high-demand San Diego location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5473 Adobe Falls Rd- 16 Subject 2 bd · 2 ba · 884 sqft · $421 | $379,000* List Price | 2 | 2 | 884 | $421 | - |
A 5553 Adobe Falls Road Sold 2 bd · 2 ba · 1,144 sqft · $334 · 0.1 mi | $382,500 | 2 | 2 | 1,144 | $334 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1973, this property is over 50 years old but has been maintained with some updates, including newer dual-pane windows, laminate kitchen flooring, and tiled bathrooms. While functional and move-in ready for tenants or first-time buyers, the overall interior aesthetic remains dated with older carpeting and fixtures, fitting the Fair condition criteria.
Located minutes from SDSU and VA-approved, this property is perfectly positioned for high rental demand or first-time buyers, offering excellent potential for equity growth in a central San Diego hub.
As a top-floor end-unit featuring soaring vaulted ceilings, the home offers enhanced privacy, increased natural light, and a more spacious architectural feel than standard units in the complex.
The HOA fee covers essential utilities like water and trash along with exterior maintenance, while community features like the pool, spa, and clubhouse enhance the overall lifestyle value.
With only one deeded parking space, the reliance on a transferable rented space for a second vehicle may be a deterrent for multi-car households or long-term stability.
Built in 1973, the property and complex may face higher long-term maintenance requirements or potential special assessments compared to newer developments in the Mission Valley area.
One of the best locations in the complex! VA Approved condos. Nestled among mature landscaping in the highly desirable Adobe Falls community, this light and bright upstairs end-unit features soaring vaulted ceilings. An excellent opportunity for first-time homebuyers, investors, or those looking to complete a 1031 exchange. Located just minutes from SDSU, this 2-bedroom condo offers outstanding potential as a student rental or long-term investment. The condo includes one deeded parking space (#3) plus an additional rented parking space that may be transferred to the new owner. Newer dual-pane windows, laminate flooring in the kitchen and dining area, tiled bathrooms, and a convenient in-unit laundry closet with washer and dryer included. Enjoy your private balcony with an attached storage closet, perfect for relaxing outdoors. Adobe Falls is a beautifully maintained community featuring a sparkling pool, spa, clubhouse, lush landscaping, and a responsive HOA. HOA dues include water, trash, common area maintenance, roof maintenance, and exterior building maintenance. Ideally located near Mission Valley shopping, countless restaurants, and SDSU, this home is adjacent to the highly desirable Del Cerro and San Carlos communities, known for their established neighborhoods, scenic hiking and biking trails, and exceptional central location. Enjoy convenient access to Interstate 8, Highways 15 and 125, making commuting throughout San Diego a breeze. You'll also be approximately 15 to 20 minutes from Mission Beach, Pacific Beach, and many of San Diego's world-famous beaches (traffic permitting), as well as close to downtown, Qualcomm Stadium redevelopment (Mission Valley), shopping, entertainment, and major employers. Whether you're a first-time buyer, investor, or completing a 1031 exchange, this home offers an unbeatable combination of affordability, convenience, lifestyle, and future upside. Don't miss this opportunity to build equity in one of San Diego's most desirable central locations!
No exterior & parking available.
Grades K-5 • 0.8 mi
Grades 6-8 • 1.0 mi
Grades 9-12 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 884 | 1,018.142 |
| Lot Size | - | 75,257.211 |
| Price | $379.0K | $598.4K |
| Price per sq ft | $429 | $607 |
| Built year | 1973 | 1986 |
| HOA | $510.0 | $536 |
| Days on market | 80 | 58 |
Aug 19, 2026
$379,000
$399,000
-5% Price Drop
Initial Listing
Aug 6, 2026
$399,000
Initial Listing
Jun 22, 2021
$340,000
Public Record
Mar 3, 2009
$106,500
Public Record
May 5, 2005
$270,000
Public Record