3940 Gresham Street 344, San Diego, California 92109, San Diego, 92109 - 2 bed, 2 bath
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San Diego, California 92109
This property presents a High-Potential Investment Opportunity with a List Price of $1,049,000—positioned well below the $964,135 Fair Market Value by -8%. While the unit requires a full interior renovation due to its Poor Condition Rating, the waterfront location in the Bay Scene community offers significant long-term upside. With the complex currently undergoing a major remodel, this asset is a prime candidate for Value-Add Investors or Owner-Occupants with the vision to modernize this 1,371 sqft waterfront residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3940 Gresham Street 344 Subject | $1,049,000* List Price | 2 | 2 | 1,371 | $703 | - |
A 1278 Pacific Beach Dr 3 Sold | $740,000 | 2 | 2 | 1,032 | $717 | 0.2 mi |
B 852 Diamond St Sold | $1,325,000 | 3 | 3 | 1,600 | $828 | 0.9 mi |
C 1730 Pacific Beach Dr #2 Sold | $1,050,000 | 2 | 3 | 1,292 | $813 | 0.4 mi |
D 3833 Lamont St 2h Active | $749,000 List Price | 2 | 2 | 839 | $893 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1974 (50+ years old) and described as needing to be brought 'back to life,' this unit requires a full rehab of the kitchen, bathrooms, and flooring. The age and lack of recent interior updates, combined with the need for a total personalization of finishes, place it in the poor category.
Elementary School: Bird Rock Elementary School (10/10).
Situated in the desirable Bay Scene community of Pacific Beach, this property offers immediate access to the sand and boardwalk, providing an elite coastal lifestyle.
With the entire complex currently undergoing a major remodel, future owners stand to benefit from enhanced community aesthetics and a likely increase in overall property value.
The association fee of $1,440 per month is substantial, which may deter budget-conscious buyers or impact the overall financing qualification.
The property requires significant TLC and a full interior renovation, necessitating a large post-closing investment to bring the home to a move-in ready condition.
This charming 2-bedroom, 2-bath condo offers true waterfront living in the desirable Bay Scene community — just steps from the sand and boardwalk. Located on the 4th floor, this condo is ready for its next owner to bring it back to life. Solidly built with a fantastic location directly on the bay, this home needs updating and some TLC to reach its full potential. Perfect for a buyer with vision who wants to personalize the kitchen, bathrooms, flooring, and finishes. Big Bonus: The entire complex is currently under a huge remodel, bringing the whole community back to life and adding significant value for future owners!
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 1.3 mi
Grades K-5 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,371 | 993 | 85% |
| Lot Size | 87,241 | 1,089.185 | 88% |
| Price | $1.05M | $925.0K | 61% |
| Price per sq ft | $765 | $869 | 31% |
| Built year | 1974 | 1975 | 35% |
| HOA | $1440.0 | $506 | 95% |
| Days on market | 21 | 140 | 12% |
May 26, 2026
$1,049,000
Initial Listing