BUYER FAILED TO PERFORM AT NO FAULT TO SELLER. Matthews Real Estate Investment Services is pleased to exclusively present this 2-Unit property with (2) 2-bedrooms/1-bathroom units in Bankers Hill, with one of the units being Non-Conforming. This property is zoned commercial, CC-3-4, which has multiple uses per city zoning code. Opportunities for retail, office and a potential third unit would be ideal for this location. A walker’s paradise & Walk Score (91), this property provides all the convenience to Downtown & Little Italy nightlife, Balboa Parks Attractions, and access Interstate 5/Pacific Coast Hwy. The units are significantly below market. A new buyer can capitalize on bringing rents up, with approximately 83% rental upside. This is an ideal site for short-term rental located just across the Highway from Little Italy. Bankers Hill is seeing lots of activity in relation to new apartment development showing the strength of the neighborhood, positioning this properties location for long term growth.
For sale
Price cut: $200K (7/14)
$995,000
2311 State St, San Diego, CA 92101
4beds
--sqft
Est.:
Multi Family
Built in 1925
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
- 83 days
- on Zillow |
- 1,470 |
- 71 |
Zillow last checked: 7 hours ago
Listing updated: August 13, 2025 at 04:41am
Listed by:
Michael G Kasser DRE #02105892 619-382-3750,
Daniel W. Withers
Source: SDMLS,MLS#: 250028621
Originating MLS: San Diego Association of REALTOR

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Cooling
- Central Forced Air
Interior area
- Total structure area: 2,339
Video & virtual tour
Property
Features
- Levels: 2 Story
- Fencing: Other/Remarks
Details
- Parcel number: 5330650600
- Zoning: CC-3-4
- Zoning description: CC-3-4
- Special conditions: Call Agent
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Other/Remarks
- Roof: Other/Remarks
Condition
- Year built: 1925
Community & HOA
Community
- Security: N/K
- Subdivision: Downtown Area (DOWN)
Location
- Region: San Diego
Financial & listing details
- Date on market: 5/27/2025
- Listing terms: Other/Remarks
- Tenant pays: Electricity, Gas/Propane
- Loading
- Loading