4915 E Mountain View Dr
San Diego, CA 92116
Off-market canyon lot on the north side of Adams Avenue, Normal Heights. Grow the 1952 house to about 2,000 SF, keep the canyon studio, add a 900 SF two-bedroom unit, and hold three rentals on one lot. Purchase price is to be negotiated with the owner; the base case uses $1,250,000, near the Redfin estimate.
Rent roll
Operating, year 1
All-in cost
Loan and cash flow
Hold and sale
5-year IRR: purchase price × rents
At the scope, construction cost and financing set on the left. Black cell = current setting.
Rents are set from 92116 listings on Redfin this month and the studio's own rent. The grown main house has no direct comparable; it is priced between the 3-bedroom listings and the new 4-bedroom on 40th St.
Rentals listed now, 92116
| Address | Beds | SF | Rent |
|---|---|---|---|
| 4462 40th St | 4 bd · 3 ba | 1,317 | $8,500 |
| 5048 Canterbury Dr | 3 bd · 2 ba | 1,605 | $5,295 |
| 4329 Proctor Pl | 3 bd · 2 ba | — | $4,995 |
| 4429 36th St | 3 bd · 1 ba | 890 | $3,945 |
| 4659 34th St | 3 bd · 1.5 ba | 1,100 | $3,700 |
| 4471 Cleveland Ave | 2 bd · 2 ba | 1,150 | $4,100 |
| 4649 Arizona St | 2 bd · 1 ba | 1,039 | $3,833 |
| 4556 North Ave | 2 bd · 2 ba | 800 | $2,900 |
| 4788 W Mountain View Dr, B | 1 bd · 1 ba | — | $3,300 |
| 4460 40th St | 1 bd · 1 ba | 588 | $3,100 |
| 4853 Mansfield St | Studio | 500 | $1,795 |
| 4915 E Mountain View Dr, studio | Studio | ~600 | $2,300 |
Listings from Redfin, November 2026. The studio's $2,300 is its September 2026 listing. Asking rents, not signed leases.
Rental-grade finishes, not the luxury spec of the La Jolla deals. The new unit carries $60,000 for site work and utilities on the canyon lot.
Hard cost
Soft cost and schedule
Valued as a house with two accessory units: the main house at $900/SF, the studio at $650/SF and the new unit at $750/SF. Small homes nearby sell for $870–1,320/SF; larger homes list for $650–1,040/SF. An investor buying on income alone would pay much less.
Recent sales near the property
| Address | Sold | Price | SF | $/SF |
|---|---|---|---|---|
| 3381 N Mountain View Dr | Oct 2026 | $985,000 | 744 | $1,324 |
| 4484 Marlborough Ave | Oct 2026 | $899,000 | 711 | $1,264 |
| 3669 Alexia Pl | Sep 2026 | $900,000 | 1,036 | $869 |
| 4521 39th St | Sep 2026 | $849,000 | 748 | $1,135 |
| 3239 N Mountain View Dr | Aug 2026 | $955,000 | 900 | $1,061 |
| 3636 Eugene Pl | May 2026 | $1,305,000 | 1,266 | $1,031 |
Larger homes listed now
| Address | Status | Price | SF | $/SF |
|---|---|---|---|---|
| 5324 Canterbury Dr, Kensington | Listed | $3,400,000 | 3,260 | $1,043 |
| 4866 Sussex Dr, Kensington | Listed | $1,999,990 | 2,268 | $882 |
| 3646 Copley Ave | Listed | $1,499,000 | 1,675 | $895 |
| 4420 38th St | Listed | $1,299,000 | 1,878 | $692 |
| 3535 Eugene Pl | Listed | $1,585,000 | 2,448 | $647 |
Sources: Redfin, November 2026. The property last sold April 2018 for $771,000; Redfin estimates it at about $1.23M.
Zoning and what the lot allows
- RS-1-1, Mid-City: Normal Heights. FAR 0.45: about 14,900 SF on paper, far less in practice because of the canyon slope.
- Minimum lot in RS-1-1 is 40,000 SF; this lot is about 33,100 SF, so it cannot be split under the base zone.
- An SB 9 lot split requires the owner to live there for 3 years: not an option for an investor.
- Second unit: a state ADU, or an SB 9 second primary unit without a split. Plus one JADU inside the house.
- Steep slopes on the north side fall under San Diego's environmentally sensitive lands rules; building stays on the flat part of the lot.
- To confirm: whether the studio is a permitted ADU, the usable pad area, and a geotechnical report.