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Prime value-add + development opportunity in highly desirable Talmadge. This 6,600 SF RM-1-1 zoned lot currently features three units: a front duplex with two 1bd/1ba units, plus a detached 2bd/1ba house in the rear. Seller has fully approved permits in hand to demolish the rear house and construct 9 new units, while retaining and renovating the existing duplex—bringing the total to 11 rentable units. New ownership can begin renovations and lease-up immediately. Projected pro forma cap rate of 7.5%. Located in a low-density, high-demand rental market with limited multifamily supply. Excellent access to I-8 and I-15 puts you minutes from Downtown, Mission Valley, Kensington, and the College Area. Rare opportunity to develop in one of San Diego’s most stable, appreciating infill neighborhoods.
Property Type(s):
Residential Income
| Last Updated | 4/11/2025 | Year Built | 1940 |
|---|---|---|---|
| Community | San Diego | County | San Diego |
Additional Details
| AIR | See Remarks |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | San Diego |
| HOA DUES | 0 |
| LOT | 6514 sq ft |
| STORIES | 1 |
| ZONING | RM-1-1 |
Location
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Listed with JLM Real Estate Inc
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