Request More Info
Schedule a Showing
Share
Print
|
Discover a compelling value-add investment opportunity at 2901-2921 Columbia Street "” an 11-unit multifamily perfectly positioned in the heart of Middletown, one of Metro San Diego's most sought-after and consistently resilient neighborhoods. This is your chance to acquire a well-located asset in a submarket that continues to attract strong renter demand and long-term appreciation potential. Offered exclusively by JP Equity Real Estate, this RM-2-5 zoned corner lot offers significant upside potential for investors looking to increase current rents and even higher through unit upgrades or explore future development possibilities. Middleton is surrounded by Mission Hills, Hillcrest, Bankers Hill and Little Italy and is a 4-minute walk from the trolley stop. The property itself is well-maintained, providing stable in-place income while an investor executes their value-add strategy. Key features include a desirable unit mix with many units enjoying panoramic views of the bay and downtown skyline, most units with balconies and/or patios, mature landscaping, 12 parking spaces, triple-pane windows, a pitch composition roof, a carport with attached storage, and common laundry facilities "” all set on an elevated lot that enhances privacy and street presence. The current owners have been generous stewards of their tenants, holding rents conservatively below market across all unit types "”averaging 40% below prevailing market rates. One-bed units running $1,335-$1,550 against a market of $2,200-$2,600 and two-bed units at $2,400-$2,500 against a market of $2,800-$3,400. The crown jewel is a 1,418 SF three-bed/two-bath unit currently at $2,550 "” well below its market potential of $3,800-$4,500 "” which could also be positioned as a stunning owner-occupant residence.
Property Type(s):
Commercial
| Last Updated | 4/22/2026 | Year Built | 1957 |
|---|---|---|---|
| Community | 92103 - Mission Hills | County | San Diego |
Additional Details
| APPLIANCES | Dryer, Washer |
|---|---|
| AREA | 92103 - Mission Hills |
| CONSTRUCTION | Frame |
| EXTERIOR | Garden |
| HEAT | Electric |
| LOT | 12681 acre(s) |
| LOT DESCRIPTION | Front Yard, Garden, Landscaped, Near Public Transit, Sloped Down, Steep Slope |
| LOT DIMENSIONS | 12681 |
| STORIES | 2 |
| UTILITIES | Cable Connected, Electricity Available, See Remarks, Underground Utilities |
Location
Contact us about this Property
| / | |
| We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for Carie Webber to contact you even if your name is on a Federal or State "Do not call List". | |
Listed with JP Equity Real Estate Corp
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
Twitter
Facebook
Email