5523 Adobe Falls #3 Road, San Diego, California 92120, San Diego, 92120 - 2 bed, 2 bath
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5523 Adobe Falls #3 Road
San Diego, California 92120
ACTIVE
CONDITION: EXCELLENT
2Beds
2Baths
1,144Sq Ft
164,221.203Lot Size
Property Price
LIST PRICE$474,000
EST. MARKET VALUE
$494,000
4% BelowMARKET VALUE
SUMMARY
This Turnkey Condominium is a Strong Value Opportunity, listed at $494,000—positioned well below the $540,000 Fair Market Value by 8.5%. This valuation gap offers $46,000 in Instant Equity for qualified buyers. Featuring a Mint Condition Rating with modern quartz counters, LVP flooring, and new dual-pane windows, this home is move-in ready. Located in the desirable Del Cerro area near top-rated schools and SDSU, it is an ideal choice for first-time buyers or investors seeking a low-maintenance, high-potential asset.
Estimated Market Value
$494,000+$20,000 Equity Potential
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 |
|---|---|---|---|---|---|---|
★ 5523 Adobe Falls #3 Road Subject | $474,000* List Price | 2 | 2 | 1,144 | $432 | - |
A 5422 Adobe Falls 10 Sold | $490,000 | 2 | 2 | 1,144 | $428 | 0.2 mi |
B 5493 Adobe Falls Rd 10 Sold | $533,000 | 2 | 2 | 1,144 | $466 | 0.1 mi |
C 5462 Adobe Falls Rd 11 Active | $468,800 List Price | 2 | 2 | 1,144 | $410 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
The property has undergone a full recent renovation (less than 5 years) featuring a modern kitchen with quartz countertops and stainless steel appliances, updated bathrooms, new LVP flooring, and new dual-pane windows. Despite the 1973 build date, the interior is in mint condition and move-in ready.
PROSSTRENGTHS & OPPORTUNITIES
- Instant Equity & Financing
Listed at $494,000 despite a $540,000 appraisal, this property offers immediate equity alongside VA approval and seller-funded rate buy-down incentives.
- Turn-Key Renovations
The unit features a complete modern overhaul including new dual-pane windows, luxury vinyl plank flooring, quartz countertops, and stainless steel appliances.
- Prime Del Cerro Location
Centrally located with high desirability, the home offers excellent proximity to San Diego State University, top-rated schools, and major freeway access.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =164221, other record lot size in square feet = 164112.
- Recently Sold Property
The property was recently sold within the past year on 2026-02-18. The sold price is $375,000.00.
- High Association Fees
The monthly HOA fee of $510 is relatively high, which may impact the debt-to-income ratio for some buyers and increase overall carrying costs.
About 5523 Adobe Falls #3 Road
Opportunity is knocking are you going to answer? This is the fully renovated VA APPROVED condo is for you but other financing options too! Seller is willing to entertain a credit for a rate buy down! Appraised at $540,000. Instant Value! VA approved with a potential 5.5 30 yr fixed for qualified buyers with seller's preferred lender. Situated in the centrally located highly desired Del Cerro area of San Diego, 5523 Adobe Falls #3, offers comfort, convenience, and easy access to everything that makes San Diego living so special. Step inside to discover a bright and inviting layout featuring spacious living areas and an open flow perfect for both relaxing and entertaining. All New Dual Pane windows, LVP Flooring! The living room seamlessly connects to a serene quiet private patio, creating the ideal indoor-outdoor lifestyle Southern California is known for. The kitchen offers ample cabinetry and counter space with quartz counters and S/S appliances. Generously sized bedrooms provide comfort and flexibility for guests, a home office or a personal retreat. Enjoy the convenience of community amenities and a prime location just mins from shopping, hiking trails, SDSU and major freeways - making commuting and exploring the city simple and convenient. Whether you are a first time buyer, investor, or looking for a low-maintenance home in a fantastic location, this charming condo is a must-see, COME FALL IN LOVE today!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1973
- Lot Size
- 164,221.203 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $510.0 / Month
Neighborhood Insights
San Diego Unified Schools
Foster Elementary School
Grades K-5 • 0.8 mi
5/10
Lewis Middle School
Grades 6-8 • 1.0 mi
8/10
Patrick Henry High School
Grades 9-12 • 1.9 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,144 | 1,002.307 |
| Lot Size | 164,221.203 | 75,574.68 |
| Price | $474.0K | $596.0K |
| Price per sq ft | $414 | $612 |
| Built year | 1973 | 1985 |
| HOA | $510.0 | $529 |
| Days on market | 37 | 55 |
Pricing History
Listed for Sale
Aug 22, 2026
$474,000
$494,000
-4% Price Drop
Initial Listing
Price Change
Aug 3, 2026
$494,000
Initial Listing
Sold
Feb 18, 2026
$375,000
Public Record
Sold
Mar 29, 2004
$150,000
Public Record