2921 Columbia Street, San Diego, CA 92110

• 7,800 sqft

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.

Listing Status:

Active

Date Added:

April 22, 2026

Data Last Updated:

May 20, 2026 at 7:16AM

Listing Office:

JP Equity Real Estate Corp : 619-309-9559

Listing Agent:

Jan Sachs : 619-850-9644

MLS ID:

PTP2603001

Interior

• Appliances: DryerWasher
• Laundry: Common AreaInsideLaundry Room
• A/C: None
• Heating: Electric

Exterior

• Parking: Parking spaces: 12

Construction

• Roofing: CompositionCommon Roof
• General: Frame2

Location

• HOA Amenities: 0.0
• Originating MLS: CRMLS_CRP
• County: San Diego

Lot

• Zoning: RM 2-54516331000
• Current Use: Multi-Family

Utilities

• Utilities: Cable ConnectedElectricity AvailableSee RemarksUnderground UtilitiesOverhead Utilities

Financial

• Source: CRMLS_CRP
• Exclusions: None