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5205 Tipton St - 5205 Tipton St 0.12 Acres of Residential Land Offered at $1,199,000 in San Diego, CA 92115
Investment Highlights
- Approved plans & permits RTI for 2 Units — move straight into the build, no entitlement risk.
- Phase 2 path to a 3rd ADU by-right — additional density and income upside beyond what's already approved.
- $15,050/month projected stabilized income across 11 bedrooms purpose-built for the SDSU rental market.
Executive Summary
Approved plans, entitlements in hand, and permits ready to issue for a 2-unit project — zoned RS-1-7 within the SDA, TPA, and College Area Community Plan, this SDSU-area lot is built for an investor or developer looking to move fast.
Approved plans convert the existing 2BD/1BA SFR into a 2-unit project totaling 3,048 SF: a first-floor ADU (5BD/3BA) built out from the existing 953 SF home area, 182 SF garage, and 350 SF covered patio, plus a new second-story addition to the SFD (6BD/2.5BA) — both units purpose-built for the student rental market. Once stabilized, the project is projected to generate $15,050/month in gross rental income.
Phase 2 of the project presents the opportunity to add a 3rd unit by-right in the rear — unlocking additional density and meaningfully increasing stabilized income and long-term asset value.
All square footage, unit counts, entitlements, development plans, and rental projections to be independently verified by buyer.
Approved plans convert the existing 2BD/1BA SFR into a 2-unit project totaling 3,048 SF: a first-floor ADU (5BD/3BA) built out from the existing 953 SF home area, 182 SF garage, and 350 SF covered patio, plus a new second-story addition to the SFD (6BD/2.5BA) — both units purpose-built for the student rental market. Once stabilized, the project is projected to generate $15,050/month in gross rental income.
Phase 2 of the project presents the opportunity to add a 3rd unit by-right in the rear — unlocking additional density and meaningfully increasing stabilized income and long-term asset value.
All square footage, unit counts, entitlements, development plans, and rental projections to be independently verified by buyer.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$180,600
|
$1,491,329.48
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$9,030
|
$74,566.47
|
| Effective Gross Income |
$171,570
|
$1,416,763.01
|
| Taxes |
$24,513
|
$202,419.49
|
| Operating Expenses |
$21,242
|
$175,408.75
|
| Total Expenses |
$45,755
|
$377,828.24
|
| Net Operating Income |
$125,815
|
$1,038,934.76
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $180,600 |
| Annual Per AC | $1,491,329.48 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | $9,030 |
| Annual Per AC | $74,566.47 |
| Effective Gross Income | |
|---|---|
| Annual | $171,570 |
| Annual Per AC | $1,416,763.01 |
| Taxes | |
|---|---|
| Annual | $24,513 |
| Annual Per AC | $202,419.49 |
| Operating Expenses | |
|---|---|
| Annual | $21,242 |
| Annual Per AC | $175,408.75 |
| Total Expenses | |
|---|---|
| Annual | $45,755 |
| Annual Per AC | $377,828.24 |
| Net Operating Income | |
|---|---|
| Annual | $125,815 |
| Annual Per AC | $1,038,934.76 |
Property Facts
| Price | $1,199,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| Sale Condition | Redevelopment Project | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 0.12 AC |
| Zoning | RS-1-7 - Residential | ||
| Price | $1,199,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.12 AC |
| Zoning | RS-1-7 - Residential |
1 Lot Available
Lot
| Price | $1,199,000 | Lot Size | 0.12 AC |
| Price Per AC | $9,903,034.51 |
| Price | $1,199,000 |
| Price Per AC | $9,903,034.51 |
| Lot Size | 0.12 AC |
Approved plans, entitlements in hand, and permits ready to issue for a 2-unit project. Located on a 5,277 sq ft lot and zoned RS-1-7 within the SDA, TPA, and College Area Community Plan.
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Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
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5205 Tipton St - 5205 Tipton St
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