
San Diego, California 92109
EXCELLENT INCOME PROPERTY OR GREAT BEACH HOUSE FOR A LARGE FAMILY OR TO SPLIT THE MORTGAGE WITH EXTENDED FAMILY MEMBERS. HIGHLY SOUGHT OUT BRAEMAR DISTRICT NEIGHBORHOOD. BY FAR THE BEST NEIGHBORHOOD IN ALL THE BEACH AREAS. LOCATED NEXT TO THE CATAMARAN RESORT. YOUR FAMILY AND GUEST WILL ENJOY THE RESORT'S SPA, RESTAURANT, POOL AND ETC. JUST A FEW STEPS TO ALL 3 FAMOUS BEACH'S, MISSION BAY, MISSION BEACH AND PACIFIC BEACH. STROLL AND BIKE THE BOARDWALKS. SELLER MOTIVATED. WITH SB-79 YOU MAY HAVE THE OPPORTUNITY TO BUILD UP TO 20,250 SQ. FT. A TOTAL OF 12 UNITS. HIGH RISE TO 65', 6-8 STORIES. WITH COMPLETE BEAUTIFUL WATER VIEWS OF THE OCEAN/BAY. EACH UNIT RENT INCOME PROJECTED AT AN AVERAGE OF $7,000 PER MONTH FOR A TOTAL MONTHLY RENT INCOME OF $84,000 PER MONTH.
Property is moderate renovation needed.
The property is functional but significantly dated, with the kitchen and bathrooms appearing to be over 20 years old based on the white appliances, fluorescent light box ceilings, and tile choices. While well-maintained for an income property, the interior finishes and systems are past their prime, and the listing's emphasis on SB-79 redevelopment potential for 12 units indicates the value is shifting toward the land rather than the existing structure.
Elementary School: Bird Rock Elementary School (10/10).
Situated in the prestigious Braemar District, the property offers unparalleled walkability to Mission Bay, Mission Beach, and Pacific Beach, providing a premier resort-style lifestyle.
The lot offers a rare opportunity to leverage SB-79 for a high-density project of up to 12 units and 8 stories, maximizing both square footage and future ocean views.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 5.
The property has been listed for nearly 700 days, which may indicate pricing misalignment or complexities that could affect buyer perception and negotiating leverage.
Realizing the maximum value requires a complete transition from a single-family residence to a multi-unit high-rise, involving significant capital expenditure and entitlement risks.
No exterior & parking available.
Grades K-5 • 0.7 mi
Grades K-5 • 1.2 mi
Grades K-5 • 1.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 3.2 |
| Baths | 5.0 | 2.2 |
| Square foot | 4,612 | 1,752.269 |
| Lot Size | 6,800 | 6,446.159 |
| Price | $4.85M | $1.27M |
| Price per sq ft | $1.1K | $736 |
| Built year | 0 | 1971 |
| HOA | $0 | $186 |
| Days on market | 698 | 41 |
Oct 21, 2026
$4,850,000
$4,875,000
-1% Price Drop
Initial Listing
Oct 30, 2025
$4,875,000
Initial Listing
Nov 26, 2024
$4,900,000
Initial Listing
Dec 12, 2001
$710,000
Public Record