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$3,950,000

Est. payment - /mo

Price Dropped by $200K

2901-2921 Columbia ST San Diego, CA 92110

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GAROLD WAMPLER

garoldwampler@gmail.com +1(619) 987-6168

UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID PTP2603001

HOA Y/N No

Year Built 1957

Tax Year 2025

Property Sub-Type Multi Family

Property Description

Discover a compelling value-add investment opportunity at 2901–2921 Columbia Street — an 11-unit multifamily perfectly positioned in the heart of Middletown, one of Metro San Diego's most sought-after and consistently resilient neighborhoods. This is your chance to acquire a well-located asset in a submarket that continues to attract strong renter demand and long-term appreciation potential. Offered exclusively by JP Equity Real Estate, this RM-2-5 zoned corner lot offers significant upside potential for investors looking to increase current rents and even higher through unit upgrades or explore future development possibilities. Middleton is surrounded by Mission Hills, Hillcrest, Bankers Hill and Little Italy and is a 4-minute walk from the trolley stop. The property itself is well-maintained, providing stable in-place income while an investor executes their value-add strategy. Key features include a desirable unit mix with many units enjoying panoramic views of the bay and downtown skyline, most units with balconies and/or patios, mature landscaping, 12 parking spaces, triple-pane windows, a pitch composition roof, a carport with attached storage, and common laundry facilities — all set on an elevated lot that enhances privacy and street presence. The current owners have been generous stewards of their tenants, holding rents conservatively below market across all unit types —averaging 40% below prevailing market rates. One-bed units running $1,335–$1,550 against a market of $2,200–$2,600 and two-bed units at $2,400–$2,500 against a market of $2,800–$3,400. The crown jewel is a 1,418 SF three-bed/two-bath unit currently at $2,550 — well below its market potential of $3,800–$4,500 — which could also be positioned as a stunning owner-occupant residence.

Location

State CA

County San Diego

Area 92103 - Mission Hills

Zoning RM 2-5

Interior

Heating Electric

Fireplace No

Appliance Dryer, Washer

Laundry Common Area, Inside, Laundry Room

Exterior

Carport Spaces 1

Utilities Available Cable Connected, Electricity Available, See Remarks, Underground Utilities, Overhead Utilities

Roof Type Composition,Common Roof

Present Use Multi-Family

Total Parking Spaces 12

Building

Lot Description Sloped Down, Front Yard, Garden, Landscaped, Near Public Transit, Steep Slope, Walkstreet

Dwelling Type Multi Family

Story 2

Others

Tax ID 4516331000

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Financing Cash,Cash to New Loan,Conventional

Special Listing Condition Standard

Virtual Tour https://www.propertypanorama.com/instaview/crmls/PTP2603001

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Jan Sachs JP Equity Real Estate Corp 619-850-9644, DRE #01964760

NEARBY SCHOOL & BUSINESS

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GAROLD WAMPLER

Agent | License ID: 01243026

+1(619) 987-6168

2901-2921 Columbia ST San Diego, CA 92110

GAROLD WAMPLER

Key Details

Location

Interior

Exterior

Building

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

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2901-2921 Columbia ST