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$ 4,250,000
Est. payment | /mo
2.6 Acres Lot
$ 4,250,000
Est. payment | /mo
2.6 Acres Lot
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
Listed by Joseph Silva CCG RE Investment Services Inc