3940 Gresham Street 344, San Diego, California 92109, San Diego, 92109 - 2 bed, 2 bath
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San Diego, California 92109
This waterfront condo represents a Prime Investment Opportunity listed at $1,100,000—positioned well below the $1,155,398 Fair Market Value by 4%. This valuation gap offers $55,398 in Instant Equity for buyers executing a strategic modernization plan. Currently holding a Condition Rating of 4, the unit requires updates to the kitchen and flooring but features a peek-a-boo bay view and access to a community pool. With the complex undergoing a major remodel and proximity to the 10/10 rated Bird Rock Elementary, this is a high-upside asset for Fix-and-Flip Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3940 Gresham Street 344 Subject | $1,100,000* List Price | 2 | 2 | 1,371 | $843 | - |
A 1730 Pacific Beach Dr #2 Sold | $1,050,000 | 2 | 3 | 1,292 | $813 | 0.4 mi |
B 4070 Riviera Drive 6 Sold | $989,000 | 2 | 3 | 1,305 | $758 | 0.1 mi |
C 3955 Honeycutt Street 201 Sold | $950,000 | 2 | 2 | 1,063 | $894 | 0.7 mi |
D 3923 Riviera Drive A Sold | $1,068,000 | 2 | 2 | 1,052 | $1,015 | 0.1 mi |
E 4037 Haines St. Sold | $926,250 | 2 | 2 | 1,053 | $880 | 0.2 mi |
F 4016 Gresham D1 Active | $1,099,000 List Price | 2 | 2 | 1,203 | $914 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1974, the property is in mostly original or significantly aged condition. The kitchen features dated cabinetry, tile countertops, and older white appliances, while the bathrooms and flooring show clear signs of wear and outdated styling. The listing description confirms the unit requires updating and TLC to reach its full potential, fitting the criteria for a property that is functional but requires modernization.
Elementary School: Bird Rock Elementary School (10/10).
Situated in the highly desirable Bay Scene community of Pacific Beach, this property offers true waterfront living just steps from the sand and boardwalk, ensuring a premium coastal lifestyle.
As a unit requiring updates to the kitchen, bathrooms, and flooring, it presents a significant opportunity for investors or homeowners to build equity through personalized renovations.
The property is in need of significant TLC and modernization throughout, requiring the buyer to have additional liquid capital and a vision for a full interior overhaul.
The monthly association fee of $1,440 is notably high, which may impact the overall affordability and appeal for budget-conscious buyers despite the prime location.
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 | 1,000 | 84% |
| Lot Size | 87,241 | 4,822 | 86% |
| Price | $1.10M | $895.0K | 64% |
| Price per sq ft | $802 | $914 | 32% |
| Built year | 1974 | 1975 | 32% |
| HOA | $1440.0 | $500 | 93% |
| Days on market | 13 | 148 | 7% |
Apr 9, 2026
$1,100,000
Initial Listing