2901 2921 Columbia Street,San Diego, CA 92110
San Diego, CA 92110
Description
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.
Details
| MLS # | PTP2603001 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1957 |
| Days On Site | 131 |
| Listing Provided By | JP Equity Real Estate Corp | Jan Sachs |
Features
| SQ Feet | 7,800 |
|---|---|
| Car Port | Yes |
| Story(s) | 2 |
| Units | 11 |
| Building(s) | 1 |
| Zoning | RM 2-5 |
| Acreage | 0.29 |
Interior
| Heating | Electric |
|---|---|
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
| Appliances | Dryer, Washer |
Exterior
| Roof | Composition, Common Roof |
|---|---|
| Security Features | Carbon Monoxide Detectors, Smoke Detectors |
| Construction Materials | Frame |
| Lot Features | Sloped Down, Front Yard, Garden, Landscaped, Near Public Transit, Steep Slope, Walkstreet |
Utilities
| Utilities | Cable Connected, Electricity Available, See Remarks, Underground Utilities, Overhead Utilities |
|---|
Area Information
| State | CA |
|---|---|
| County | San Diego |
| City | San Diego |
| Zip Code | 92110 |
| Area | 92103 Mission Hills |
| Listing VS Median (in 92110) | |
Price: $3,695,000 low | high Med: $1,572,500 sqft: 7,800 low | high Med: 3,207 $ / sqft: $474 low | high Med: $492 On site: 131 low | high Med: 123.5 | |
Market Activity 92110
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Learn More About This Property
| State | CA |
|---|---|
| County | San Diego |
| City | San Diego |
| Zip Code | 92110 |
| Area | 92103 Mission Hills |
| Listing VS Median (in 92110) | |
Price: $3,695,000 low | high Med: $1,572,500 sqft: 7,800 low | high Med: 3,207 $ / sqft: $474 low | high Med: $492 On site: 131 low | high Med: 123.5 | |
 | $1,975,0003065 Reynard WaySan Diego, CA 92103 |