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$4,250,000
Est. payment /mo
2.6 Acres Lot
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision University Heights
MLS Listing ID 250033776SD
HOA Y/N No
Year Built 1942
Lot Size 2.600 Acres
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 92116 - Normal Heights
Building/Complex Name NA
Zoning RM1-1
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Fence Partial
View Y/N Yes
Roof Type Composition
Building
Story 2
Entry Level Two
Level or Stories Two
Others
Senior Community No
Tax ID 4383200800
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
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Listed by Joseph Silva CCG RE Investment Services Inc