720 W Montecito Way, San Diego, California 92103, San Diego, 92103 - 2 bed, 2 bath
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San Diego, California 92103
This Architectural Development Asset is listed at $2,500,000, positioned below the $2,521,888 Fair Market Value by 1%. This valuation provides $21,888 in Instant Equity for an acquisition targeting forced appreciation. With a Condition Rating of 5, the property demands deferred modernization but offers unparalleled upside via six contiguous parcels totaling 15,000 sq ft with canyon views. Located in walkable Mission Hills near Grant K-8 (8/10), this is a premier Value-Add project for Luxury Developers or Restoration Specialists.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 720 W Montecito Way Subject | $2,500,000* List Price | 2 | 2 | 2,730 | $924 | - |
A 1860 Montecito W Sold | $2,629,000 | 3 | 3 | 2,446 | $1,075 | 0.7 mi |
B 4040 Alameda Active | $2,599,888 List Price | 4 | 4 | 3,260 | $798 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1974, the property shows significant deferred modernization and wear. The kitchen features original, heavily stained and water-damaged cabinetry with outdated appliances. The exterior cedar shingles are weathered, and the listing explicitly frames the property as a development opportunity requiring substantial interior renovations to meet contemporary standards.
Designed by architect Robert Bowlus, the Malcolm Nichols Residence is a unique architectural gem that masterfully blends late 20th-century modernism with classic Cape Cod aesthetics.
The property encompasses six contiguous parcels totaling 15,000 square feet adjacent to canyon open space, offering rare and significant opportunities for expansion or multi-unit development.
Located in the heart of Mission Hills, the residence boasts an exceptional walk score with immediate proximity to top-tier dining, boutique coffee shops, and highly-rated schools like Grant K-8.
The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 2298, living area = 2730.
Despite the generous 2,730 square footage and $2.5M price point, the current two-bedroom configuration may limit appeal for larger families or those requiring more dedicated office spaces.
Built in 1974, the property is marketed with the expectation of updates, implying that a buyer will need to budget for significant interior renovations to bring the home up to contemporary luxury standards.
The cedar shingle siding of the Malcolm Nichols Residence, by architect Robert Bowlus, connects California's late 20th-century modernism (as popularized by Sunset Magazine) to longstanding Cape Cod style. The property encompasses 6-contiguous parcels totaling 15,000 sq ft adjacent to canyon open space. The property offers significant development opportunities beyond just updating and enjoying the property in its current format. Situated in a perfect Mission Hills location, walking distance to a number of restaurants (Fort Oak, La Puerta, Farmer's Bottega, etc.), coffee shops, and grocery stores..
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 1.3 mi
Grades K-5 • 1.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 19% |
| Baths | 2.0 | 3.0 | 49% |
| Square foot | 2,730 | 1,946 | 72% |
| Lot Size | - | 5,213 | 19% |
| Price | $2.50M | $1.78M | 78% |
| Price per sq ft | $916 | $956 | 45% |
| Built year | 1974 | 1930 | 81% |
| HOA | $0 | $0 | 50% |
| Days on market | 13 | 153 | 6% |
Apr 9, 2026
$2,500,000
Initial Listing
Mar 22, 2018
$235,000
Public Record
Mar 22, 2018
$1,030,000
Public Record
Feb 10, 2017
$1,200,000
Public Record