Properties

San Diego, CA 92105 2351 Modesto Street

2351 Modesto Street San Diego, CA - Image 12351 Modesto Street San Diego, CA - Image 22351 Modesto Street San Diego, CA - Image 3
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2351 Modesto Street San Diego, CA - Image 42351 Modesto Street San Diego, CA - Image 52351 Modesto Street San Diego, CA - Image 62351 Modesto Street San Diego, CA - Image 72351 Modesto Street San Diego, CA - Image 82351 Modesto Street San Diego, CA - Image 92351 Modesto Street San Diego, CA - Image 102351 Modesto Street San Diego, CA - Image 112351 Modesto Street San Diego, CA - Image 122351 Modesto Street San Diego, CA - Image 132351 Modesto Street San Diego, CA - Image 142351 Modesto Street San Diego, CA - Image 152351 Modesto Street San Diego, CA - Image 162351 Modesto Street San Diego, CA - Image 17
Presented By: Ava Khamooshi with Rise Realty; info@avakbroker.com
  • MLS# NDP2603053
  • 03/31/2026
  • Get pre-approved
  • Request Tour
  • Request Info
  • Baths • 1
  • SQFT • 1,700

Home Details

CITY HEIGHTS DUPLEX | R-2 ZONED | IMMEDIATE INCOME + EXTRAORDINARY DEVELOPMENT UPSIDE Few opportunities arrive with this much aligned in your favor. A fully remodeled, income-producing R-2 zoned duplex on a 5,178 square foot lot, positioned in the heart of one of San Diego's most powerfully appreciating urban corridors, this is the kind of generational asset that sophisticated investors recognize immediately and move on decisively. City Heights is not emerging. It has emerged. The Mid-City submarket is experiencing a transformation that is redefining land values, reshaping the streetscape, and rewarding those who had the vision to act early. This property does not sit on the sidelines of that story. It sits at the center of it. Both units were comprehensively remodeled in 2022 to a standard that today's discerning residents expect and deserve. The upper level unfolds across approximately 950 square feet of beautifully appointed living space, offering 2 bedrooms, 1 bathroom, a sweeping open concept layout, custom quartz countertops, a stylish breakfast bar, stainless steel appliances, and the coveted convenience of in-unit laundry. The lower unit presents approximately 850 square feet of equally refined living, with 2 bedrooms, 1 bathroom, a private fenced yard that creates a genuine sense of arrival, and a dedicated laundry closet. Both residences feature individually fenced outdoor retreats and climate controlled comfort through wall and window air conditioning. These are not afterthought finishes. They are the details that attract quality long term residents and keep them. The leases in place and the income figures speak for themselves. The investment opportunity extends well beyond today's cash flow. The R-2 designation, layered with the City of San Diego's landmark ADU ordinance and its aggressive multi-family densification framework, transforms this lot into a genuine development platform. The paths forward are multiple and meaningful. Add accessory dwelling units and multiply your income streams. Maximize the allowable density envelope and reposition the asset for the next decade. The Mid-City Community Plan places this site squarely within the city's highest priority transit-oriented infill zones, which means policy, infrastructure, and capital are all moving in the same direction you are. The risk profile is equally compelling. Flood, fire, and wind exposure each score a remarkable 1 out of 10, supporting clean underwriting and favorable insurance economics. Hamilton Elementary, rated 8 out of 10, anchors the neighborhood's family appeal. Major freeways, thriving employment centers, and robust public transit connections are all within easy reach, fundamentals that sustain demand, validate comparable sales, and strengthen every exit strategy on your model. Whether you are a 1031 exchange buyer seeking a pristine capital preservation vehicle, a value-add investor ready to build on a turnkey foundation, or a developer strategically assembling a land position in one of Southern California's most supply-constrained and policy-favored urban infill markets, this is the opportunity that belongs at the top of your underwriting queue. Assets that unite immediate income, institutional quality finishes, zoning optionality, and locational irreplaceability at this price point are extraordinarily rare. When they appear, the window is brief. The numbers are exceptional. The upside is undeniable. The time to act is now.
Presented By: Ava Khamooshi with Rise Realty; info@avakbroker.com

Interior Features for 2351 Modesto Street

Bathrooms

Total Baths

Other Interior Features

Air Conditioning Y/NNo
Common WallsNo Common Walls
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesInside
Total Stories2

Other Rooms

Entry Level1

General for 2351 Modesto Street

Additional Parcels Y/NNo
AppliancesDryer, Washer
Building Area UnitsSquare Feet
Cap Rate4
CitySan Diego
Community FeaturesSidewalks
CountySan Diego
DirectionsGPS
Entry LocationEntry Level
Expected Active Date 2026-04-01
Garage Spaces
Garage Y/NNo
Gross Income72000
HOANo
HOA Fee$
Insurance Expense2400
Land Lease Y/NNo
Listing TermsCash, Conventional, FHA, VA Loan
Lot Size Square Feet5178
Lot Size UnitsSquare Feet
MLS Area92105 - East San Diego
Net Operating Income47000
New ConstructionNo
Number Of Units Total2
Number of Units Leased2
Operating Expense25000
Pool FeaturesNone
PostalCitySAN DIEGO
Property Attached Y/NNo
Property Sub Type AdditionalDuplex
Property SubtypeDuplex
Property TypeResidential Income
Rent Control Y/NNo
Senior Community Y/NNo
SewerOther
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Tax Lot08241
Taxes$14,400
Total Actual Rent6000
Trash Expense720
Virtual TourClick here
Year Built1963
Year Built SourceAssessor
ZoningR-2:MINOR MULTIPLE

Exterior for 2351 Modesto Street

Building Area Total1700
Lot Features2-5 Units/Acre
Lot Size Acres0.1189
Lot Size Area5178
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters2
Number of Separate Gas Meters2
Number of Separate Water Meters2
Private PoolNo
SpaNo
Total Parking0
Water SourceSee Remarks

Additional Details

Price History

Schools

High School Hubert H Humphrey Middle School
Middle School N/A
Elementary School Big Hollow Elementary School

Connect Realty

Price $1,200,000
MLS#NDP2603053
List Date 03/31/2026
Property Type Multi-Family
Phone 888.795.6274
Get pre-approved
Request Tour
Request Info
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