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    930 21St St San Diego, CA 92102

    Sponsored
    For Sale
    $1,550,000

    Prime San Diego location, value-add potential.

    Property size:
    2,535 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 4-unit apartment building in San Diego's desirable Golden Hill neighborhood presents a compelling value-add investment opportunity. The property, built in 1880 with renovations in 1940, comprises approximately 2,535 square feet across four units: two 2-bedroom/2-bathroom units (approximately 750 sq ft each), one 1-bedroom/1-bathroom unit (approximately 500 sq ft), and one studio unit (approximately 400 sq ft). A 135 sq ft basement offers additional storage. The property sits on a 5,284 sq ft lot and includes 4 parking spaces. Currently boasting 100% occupancy, the property generates a NOI of $44,720, with a pro-forma NOI of $84,511 projected after renovations. The asking price is $1,550,000 ($611.44/sq ft and $387,500/unit). Significant upside potential exists through rent increases and further interior improvements. The property is zoned RM-2-5 and benefits from Complete Communities (Tier 3), Transit Priority Area, and Transit Area overlay zones, allowing for substantial development potential, potentially up to 34,000+ sq ft of improvements (subject to city approvals). The property features a maturely landscaped backyard and is located in a historic district, potentially qualifying for Mills Act tax savings. Its prime location offers easy access to downtown San Diego, public transportation, and numerous amenities. This fee-simple property is offered as a 1031 exchange opportunity.

    Property Features for 930 21St St

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,535 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1880/1940
    Buildings
    1
    Stories
    2
    Units
    4

    HighLights

    • Up to 34,000 SF buildable area.
    • Located in a Transit Priority Area and Transit Overlay Zone, within a Complete Communities Tier 3 designation.
    • Charming, well‑maintained building (circa 1880s).
    • Significant value‑add opportunity with approximately 50% potential income increase after renovation.
    • Long‑term ownership (40+ years).
    • 135 SF basement, mature landscaping.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.1449402903
    Latitude
    32.715202419699

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    FAQs

    What type of property is this?
    Multifamily property - Prime San Diego location, value-add potential.
    Where is this multifamily property located?
    The property is located at 930 21St St San Diego, CA.
    What is the asking price?
    The asking price for this property is $1,550,000.
    What are key features of this property?
    This property features: Up to 34,000 SF buildable area.; Located in a Transit Priority Area and Transit Overlay Zone, within a Complete Communities Tier 3 designation.; Charming, well-maintained building (circa 1880s).
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    930 21St St San Diego, CA 92102
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