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Rarely available 2.6-acre infill site in the heart of University Heights "” fully occupied and income-producing with major development potential. Located at 2436 Adams Ave, this oversized parcel sits along one of San Diego's most walkable, amenity-rich corridors, making it an ideal candidate for townhome or multifamily development. The property is currently improved with a remodeled 4-unit configuration: a detached 4BD/4BA home and a three-unit, two-story building of 2BD/2BA units "” generating $15,900/month in rental income. All units are updated and leased, providing immediate cash flow during entitlement or planning. Plans for 18 two-story townhomes have already been submitted to the City, saving valuable time in the development process. RM-2-5 zoning under the Complete Communities Overlay increases FAR, density, and reduces parking constraints. Additional land zoned RM-1-1 provides flexibility for future concepts. Developers and investors may purchase this property on its own or combine it with adjacent Arizona Street parcels (also available) to create a 3.14-acre multi-phase project totaling 43 proposed units. This is a rare opportunity to control scale, collect income, and unlock long-term value in one of San Diego's most sought-after urban neighborhoods.
| DAYS ON MARKET | 142 | LAST UPDATED | 11/12/2025 |
|---|---|---|---|
| TRACT | University Heights | YEAR BUILT | 1942 |
| COMMUNITY | 92116 - Normal Heights | COUNTY | San Diego |
| STATUS | Active | PROPERTY TYPE(S) | Residential Income |
| PRICE HISTORY | |
| Prior to Nov 12, '25 | $4,250,000 |
|---|---|
| Nov 12, '25 - Today | $3,999,000 |
| ADDITIONAL DETAILS | |
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 92116 - Normal Heights |
| LOT | 2.6 acre(s) |
| LOT DIMENSIONS | 113256 |
| STORIES | 2 |
| SUBDIVISION | University Heights |
| VIEW | Yes |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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