Exceptional investment and redevelopment opportunity in the heart of the College Area. Situated on a 12,100 sq. ft. lot with canyon views, this 2-bedroom, 1-bath home offers immediate rental income today and outstanding long-term potential under the recently adopted College Area Community Plan, allowing for 5-9 units per acre (buyer to verify). Whether you're looking to add to your investment portfolio, develop additional units, or hold for future appreciation, this property offers exceptional flexibility in one of San Diego's strongest student housing markets. While planning your future project, this charming home is ready to rent and features a functional layout, abundant natural light, bamboo flooring, fresh interior paint, wall-unit air conditioning, and off-street driveway parking-an invaluable feature in this permit parking neighborhood. The home also offers wonderful curb appeal, and the timeless character buyers love in the College Area, including a large mid-century picture window that fills the living room with natural light and the original interior doors that adds to its classic charm. The converted garage expands the home's living space with a kitchen, dining area, and laundry room, while an additional bonus space between the kitchen and living room offers flexibility for a home office, study area, or extra storage. The expansive backyard, canyon views, and existing pool provide the perfect setting to renovate, reimagine, or incorporate into a future redevelopment project. Located within walking distance of San Diego State University and just minutes from restaurants, shopping, parks, and public transportation, this property offers the rare combination of immediate cash flow, redevelopment potential, and an unbeatable location. Rent it today while planning your next project or maximize the full potential of this oversized College Area lot.