2965 Columbia St, San Diego, CA 92103

Charming, 1936-built triplex in coveted Mission Hills. Almost 8,000 SF corner parcel. All units enjoy Bay views. Gross bld. SF = 3,774. Mix consists of (2) 2bed/1bath avg. 1,266 SF each, rear 1bed/1bath @ 620 SF, (3) rear 1-car storage garages totaling 560 SF, and a 63 SF common laundry room. One of the most affordable properties in this submarket on a price/SF basis @ $490/SF. Common inner courtyard and deck area. Upper 2bed features 130 SF west-facing balcony. New kitchen for lower 2bed completed 2021. Well-maintained units ready for further upgrades. All tenants month-month. Roughly 40% rent upside. Possibility of adding additional income from laundry or storage. Zoned RM-2-5, which allows for a base density by right of 1 unit per 1,500 SF of land, and therefore 5 units can be built by right under existing zoning, notwithstanding any additional ADUs or outright redevelopment. Property also benefits from Complete Communities (Tier 3 – 6.5x FAR), Transit Priority Area, and Transit Area Overlay zones, all of which lend significant density bonus potential and reduced parking requirements in this prized, coastal location. This presents fantastic opportunities for investors and developers to explore multiple development options, converting the garages to an ADU, adding units, or redeveloping the parcel altogether. Don’t miss this amazing opportunity to acquire a value-add coastal asset in one of San Diego’s most desirable residential submarkets.