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$4,250,000
Est. payment /mo
10 Beds
10 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision University Heights
MLS Listing ID 250033776
Bedrooms 10
Year Built 1942
Property Sub-Type Res Income 2-4 Units
Property Description
Rarely available 2.6-acre infill site in the heart of University Heights — fully occupied and income-producing with major development potential. Located at 2436 Adams Ave, this oversized parcel sits along one of San Diego's most walkable, amenity-rich corridors, making it an ideal candidate for townhome or multifamily development. The property is currently improved with a remodeled 4-unit configuration: a detached 4BD/4BA home and a three-unit, two-story building of 2BD/2BA units — generating $15,900/month in rental income. All units are updated and leased, providing immediate cash flow during entitlement or planning. Plans for 16 two-story townhomes have already been submitted to the City, saving valuable time in the development process. RM-2-5 zoning under the Complete Communities Overlay increases FAR, density, and reduces parking constraints. Additional land zoned RM-1-1 provides flexibility for future concepts. Developers and investors may purchase this property on its own or combine it with adjacent Arizona Street parcels (also available) to create a 3.14-acre multi-phase project totaling 41 proposed units. This is a rare opportunity to control scale, collect income, and unlock long-term value in one of San Diego's most sought-after urban neighborhoods.
Location
State CA
County San Diego
Area Metro Uptown
Zoning RM1-1
Interior
Cooling Wall/Window
Fireplace No
Exterior
Fence Partial
Utilities Available Sewer Connected
View Y/N Yes
Water Access Desc Meter on Property
View Valley/Canyon
Roof Type Composition
Building
Story 2
Water Meter on Property
Level or Stories 2
Others
Tax ID 438-320-08-00
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Listed by Joseph D Silva CCG RE Investment Services Inc
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Glen Henderson
Broker Associate | CA BRE #01384181
Broker Associate CA BRE #01384181
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