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2351 53 Modesto Street

San Diego, CA 92105

$1,200,000 $5,059/Mo

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Overview

Bed

Bath

1,700

Sqft

5,178

Sqft(Lot)

Description

CITY HEIGHTS DUPLEX | R-2 ZONED | IMMEDIATE INCOME + EXTRAORDINARY DEVELOPMENT UPSIDE Few opportunities arrive with this much aligned in your favor. A fully remodeled, income-producing R-2 zoned duplex on a 5,178 square foot lot, positioned in the heart of one of San Diego's most powerfully appreciating urban corridors, this is the kind of generational asset that sophisticated investors recognize immediately and move on decisively. City Heights is not emerging. It has emerged. The Mid-City submarket is experiencing a transformation that is redefining land values, reshaping the streetscape, and rewarding those who had the vision to act early. This property does not sit on the sidelines of that story. It sits at the center of it. Both units were comprehensively remodeled in 2022 to a standar d that today's discerning residents expect and deserve. The upper level unfolds across approximately 950 square feet of beautifully appointed living space, offering 2 bedrooms, 1 bathroom, a sweeping open concept layout, custom quartz countertops, a stylish breakfast bar, stainless steel appliances, and the coveted convenience of in-unit laundry. The lower unit presents approximately 850 square feet of equally refined living, with 2 bedrooms, 1 bathroom, a private fenced yard that creates a genuine sense of arrival, and a dedicated laundry closet. Both residences feature individually fenced outdoor retreats and climate controlled comfort through wall and window air conditioning. These are not afterthought finishes. They are the details that attract quality long term residents and keep them. The leases in place and the income figures speak for themselves. The investment opportunity extends well beyond today's cash flow. The R-2 designation, layered with the City of San Diego's landmark ADU ordinance and its aggressive multi-family densification framework, transforms this lot into a genuine development platform. The paths forward are multiple and meaningful. Add accessory dwelling units and multiply your income streams. Maximize the allowable density envelope and reposition the asset for the next decade. The Mid-City Community Plan places this site squarely within the city's highest priority transit-oriented infill zones, which means policy, infrastructure, and capital are all moving in the same direction you are. The risk profile is equally compelling. Flood, fire, and wind exposure each score a remarkable 1 out of 10, supporting clean underwriting and favorable insurance economics. Hamilton Elementary, rated 8 out of 10, anchors the neighborhood's family appeal. Major freeways, thriving employment centers, and robust public transit connections are all within easy reach, fundamentals that sustain demand, validate comparable sales, and strengthen every exit strategy on your model. Whether you are a 1031 exchange buyer seeking a pristine capital preservation vehicle, a value-add investor ready to build on a turnkey foundation, or a developer strategically assembling a land position in one of Southern California's most supply-constrained and policy-favored urban infill markets, this is the opportunity that belongs at the top of your underwriting queue. Assets that unite immediate income, institutional quality finishes, zoning optionality, and locational irreplaceability at this price point are extraordinarily rare. When they appear, the window is brief. The numbers are exceptional. The upside is undeniable. The time to act is now.

Property Details

Property Type : ResidentialIncome

Price : $1,200,000

AD Id : 76651281

MLS Id : NDP2603053

Beds : 4

Lot Size : 5,178 Sqft

Living Area Size : 1,700

Year Built : 1963

County : San Diego

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Features

Interior Features

Appliances: Dryer, Washer

Laundry Features: Inside

Building Information

Year Built: 1963

Building Area Total: 1700

Pool Features: None

Private Pool: No

Lot Information

Main Square Feet: 5178 Lot Size Acres: 0.1189 Lot Size Source: Assessor Lot Size Square Feet: 5,178 Lot Description: 2-5 Units/Acre

Listing Price Information

Listing Price: $1200000

Cash, Conventional, FHA, Owner Will Carry, VA Loan

Tax Information

Parcel Number: 4765603000 Tax Lot: 08241

Location Information

Direction: GPS WaterSource: See Remarks

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
4728 4730 Myrtle Avenue, San Diego, CA, 92105	$775,000	4	3	1,045	1,045 SqFt
4728 4730 Myrtle Avenue, San Diego, CA, 92105	$775,000	4	3	--
3211 Menlo, San Diego, CA, 92105	$749,999	--	--	1,185	1,185 SqFt

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2351 53 Modesto Street

Property Details

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