Listed by Jonathan Minerick of Homecoin.com (888-400-2513)
Seize one of San Diego's most constrained submarkets with this shovel-ready development opportunity in the heart of Point Loma. Zoned RM-3-7 and fully entitled with an approved, Ready-to-Issue (RTI) 8-unit plan, this asset lets you bypass the city's lengthy entitlement process entirely and break ground immediately upon closing. The property currently has two fully furnished short-term rental units. The front unit is a 2-bedroom SFH; the rear is a detached 1-bedroom ADU. Both feature full kitchens and in-unit washer/dryers, ready for short- or long-term tenancy from day one. Upon completion of the 8 additional one-bedroom units, the project is projected to achieve $23,000+ in gross monthly revenue. The site's flexibility supports multiple exit strategies: a high-yield, long-term portfolio hold or a strategic condo conversion. A complete data room is ready for immediate review, including approved architectural plans, civil engineering, site plans, and a comprehensive pro forma.

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Property Details of 56 Tennyson Street

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Based on information submitted to CRMLS as of May 20, 2026 10:51 PM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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