6553 Lemarand Avenue, San Diego, California 92115, San Diego, 92115 - 2 bed, 2 bath
ACTIVE$749,999
6553 Lemarand Avenue, San Diego, California 92115
2Beds
2Baths
780Sqft
6,100Lot
Price Vs. Estimate
The estimated value ($684,710.315) is $65,288.685 (8%) lower than the list price ($749,999). This property may be overpriced.
Key pros and cons
Top Pros:
Exceptional Investment Opportunity: Explicitly highlighted as an 'Outstanding investment opportunity' due to its multi-unit configuration and significant development potential.
Top Cons:
Age of Construction: Built in 1953, the property may require updates to systems, infrastructure, or aesthetics to meet modern standards and tenant expectations, potentially incurring additional costs.
Compared to the nearby listings
Price:$750.0K vs avg $919.8K ($-169,751)17%
Size:780 sqft vs avg 1,366 sqft3%
Price/sqft:$962 vs avg $69592%
More Insights
Built in 1953 (72 years old).
Condition: Built in 1953, this property shows a mix of updates and original/older features. The kitchen, while functional, features dated light wood cabinets, older laminate countertops, a tiled backsplash, and a mix of older white and newer stainless steel appliances. The flooring in the kitchen is also an older tile style. One bathroom appears to have been updated more recently with a modern vanity and light fixture, while the second bathroom has an older, more traditional vanity and light fixture. The main living areas and bedrooms have newer wood-look laminate flooring and fresh paint, and the windows appear updated. However, the overall aesthetic in key areas like the kitchen and one bathroom suggests renovations that are likely 15-25 years old, aligning with the 'fair' category where major components are functional but show signs of being outdated.
Year Built
1953
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
$962
HOA
-
Days on market
-
Sold On
-
MLS number
PTP2507612
Home ConditionFair
Features
Patio
View-
About this home
Outstanding investment opportunity! This property offers two units for the price of one. The main house features 2 bedrooms and 1 bath, while the converted garage serves as a junior ADU. Additionally, there are completed plans ready for permit review to construct two more 1-bedroom, 1-bath units (approximately 600 square feet each) in the rear *See uploaded plans in Document Tab*. Centrally located with easy freeway access, it’s just minutes from downtown and conveniently close to SDSU.
Nearby schools
7/10
Rolando Park Elementary School
Public,•K-5•0.3mi
4/10
Carver Elementary School
Public,•K-5•1.0mi
5/10
Vista La Mesa Academy
Public,•PK-8•0.7mi
4/10
Mann Middle School
Public,•6-8•1.7mi
4/10
Crawford High School
Public,•9-12•1.4mi
3/10
Mount Miguel High School
Public,•9-12•2.6mi
3/10
Idea Center
Public,•9-12•6.7mi
Condition Rating
Fair
Built in 1953, this property shows a mix of updates and original/older features. The kitchen, while functional, features dated light wood cabinets, older laminate countertops, a tiled backsplash, and a mix of older white and newer stainless steel appliances. The flooring in the kitchen is also an older tile style. One bathroom appears to have been updated more recently with a modern vanity and light fixture, while the second bathroom has an older, more traditional vanity and light fixture. The main living areas and bedrooms have newer wood-look laminate flooring and fresh paint, and the windows appear updated. However, the overall aesthetic in key areas like the kitchen and one bathroom suggests renovations that are likely 15-25 years old, aligning with the 'fair' category where major components are functional but show signs of being outdated.
Pros & Cons
Pros
Exceptional Investment Opportunity: Explicitly highlighted as an 'Outstanding investment opportunity' due to its multi-unit configuration and significant development potential.
Immediate Multi-Unit Income Potential: Property currently features a main house (2 bed/1 bath) and a converted garage as a junior ADU, offering immediate dual rental income streams or flexible living arrangements.
Significant Development Upside: Comes with completed plans ready for permit review to add two more 1-bedroom, 1-bath units, substantially increasing future revenue and property value.
Prime Central Location: Strategically located with easy freeway access, minutes from downtown San Diego, and close proximity to SDSU, enhancing its appeal to renters and future tenants.
Generous Lot Size for Expansion: A 6100 sqft lot provides ample space to accommodate the planned additional units, supporting the property's development potential.
Cons
Age of Construction: Built in 1953, the property may require updates to systems, infrastructure, or aesthetics to meet modern standards and tenant expectations, potentially incurring additional costs.
Development Approval Pending: While plans are complete, they are 'ready for permit review,' indicating that the approval process for the additional units is not finalized, introducing a potential timeline and approval risk.
Lack of Desirable Views: The property description explicitly states 'view: None,' which could be a drawback in a market where properties with scenic views often command higher prices.