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5635 Mildred Street is a rare dual-opportunity asset in Bay Park "” a fully renovated, income-producing home on an R-4 zoned lot with a nearly approved 8-unit multifamily development already. The next owner builds "” they don't start over. The location is irreplaceable. A few blocks from USD in one of San Diego's most centrally positioned and supply-constrained rental corridors. Minutes to Mission Valley, Fashion Valley, Riverwalk, and the transformative Riverwalk Transit Village. Direct access to the I-8 and SR-163. Student and professional rental demand here is very strong. The existing home is fully renovated and tenant-occupied, generating income while entitlements finalize. Luxury vinyl plank floors, updated kitchen with stainless appliances, and spa-quality bathrooms with navy shaker vanities, quartz countertops, and large-format tile. Drought-tolerant landscaping, large flat fully fenced rear yard, and detached garage. Hold it. Lease it. Build 8 units.
Property Type(s):
Single Family
| Last Updated | 5/4/2026 | Year Built | 1954 |
|---|---|---|---|
| Community | 92110 - Old Town Sd | Garage Spaces | 1.0 |
| County | San Diego |
Additional Details
| AIR | None |
|---|---|
| AREA | 92110 - Old Town Sd |
| GARAGE | Attached Garage, Yes |
| HEAT | None |
| LOT | 4944 sq ft |
| LOT DIMENSIONS | 4946 |
| PARKING | Attached |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| VIEW | Yes |
| VIEW DESCRIPTION | Neighborhood |
Location
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Listed with Gene Bowman Realty
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.
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