$1,500,000
3517 23 J St
San Diego, CA 92102
1959
Year Built
San Diego
County
ResidentialIncome
Property Type
About this home
Introducing an exceptional investment opportunity in Southeast San Diego, just blocks from Interstate 15 and Imperial Avenue. 3517-23 J St is a well maintained 4-unit multifamily property featuring four 2 bed / 1 bath apartments (2,912 SF, built 1959) on a 7,071 SF RM-1-1 lot with off-street parking in front and a large open rear yard. Three units are leased with tenants reimbursing water through a RUBS program, and one unit is vacant. This is an ideal for an owner-user or a buyer looking to set rents at market from day one. What sets this property apart is the MASSIVE development upside: a full architect-designed plan set is in hand for four detached 2 bed / 1 bath ADUs in the rear yard, offering a clear path to double the unit count to 8 and dramatically increase income on a rare, deep infill lot. Current rents sit well below market, providing additional value-add upside even before any construction. Offered at $1,500,000, this is a compelling opportunity for the investor looking to capitalize on San Diego’s strong rental demand and build long-term value. Seller is completing a 1031 exchange; buyer to cooperate with seller’s exchange at no cost to buyer.
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Mortgage Estimate
$7,984/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
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