About 2259 Market Street
PRICE REDUCED $200K! Rare multifamily ADU densification opportunity in Sherman Heights, San Diego. By-right ADU development under CA SB-1211 allows expansion from 6 to 12 units. The property features a well-maintained 3-story, 6-unit apartment building (4,608 SF) on a 7,500 SF lot, built in 1927, with month-to-month tenancies and current gross income exceeding $10,000/month. Professionally prepared plans are in final approval for 6 new ADUs across three detached, two-story structures totaling approximately 2,884 SF in the rear. Upon completion, the ADUs are projected to generate an additional $13,000+/month in gross rental income, which puts this project well above a 6% cap-rate on proforma income, and should yield a healthy net completion profit after factoring in construction costs. The site is zoned CC-3-4, with ministerial ADU approvals that significantly reduce entitlement risk and development timelines. Ideal for investors seeking unit-count expansion and long-term rental growth in a prime urban infill location.
Features of 2259 Market Street
| MLS® # | PTP2600758 |
|---|---|
| Price | $1,700,000 |
| Bathrooms | 0.00 |
| Year Built | 1927 |
| Type | Commercial Sale |
| Sub-Type | Multi Family |
| Status | Active |
| # Of Units | 6 |
Community Information
| Address | 2259 Market Street |
|---|---|
| Area | 92102 - San Diego |
| City | San Diego |
| County | San Diego |
| Zip Code | 92102 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Has Basement | No |
|---|---|
| Fireplace | No |
| # of Stories | 3 |
Exterior
| Lot Description | Level, Rectangular Lot, Near Public Transit |
|---|
Additional Information
| Date Listed | January 28th, 2026 |
|---|---|
| Days on Market | 224 |
| Zoning | CC-3-4 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Max Delbecq |
|---|---|
| Office | Top Gun CRE |