
Imperial Beach, California 91932
This Spacious Penthouse Condo represents a High-Potential Investment Opportunity, listed at $555,000—positioned well below the $625,856 Fair Market Value by 11%. This valuation gap provides $70,856 in Instant Equity for the buyer. Featuring a Condition Rating of 3, the unit includes a Granite Kitchen, New Dual-Pane Windows, and Unobstructed Bay Views. With a utility-inclusive HOA, this property balances financial efficiency with coastal lifestyle, making it an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking immediate value.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 940 Calla Ave 15 Subject | $555,000* List Price | 4 | 2 | 1,504 | $417 | - |
A 940 Calla Avenue 12 Active | $400,000 List Price | 2 | 2 | 960 | $417 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1990, the property is well-maintained and move-in ready with significant recent updates including a 5-year-old roof, new forced-air furnace, and new dual-pane windows. The interior features updated wood-look laminate flooring and a kitchen with granite countertops and newer stainless-steel appliances.
At 1,504 sq. ft. with 4 true bedrooms, this property is priced significantly below the $700K market average for coastal San Diego, offering rare 'instant equity' and ample space for a penthouse-style condo.
The unit boasts unobstructed, 'million-dollar' views of the San Diego Bay and downtown skyline from three of the four bedrooms, providing a high-end coastal living experience.
The monthly association fee covers major utilities including gas and electricity, offering the homeowner predictable monthly expenses and significant savings on traditional utility bills.
The assigned public schools have relatively low ratings, specifically a 2/10 for the elementary school, which may be a deterrent for families prioritizing high-performing educational environments.
While it includes utilities, the $617 monthly HOA fee represents a significant recurring expense that could impact the debt-to-income ratio and overall affordability for some buyers.
Instant equity at this price! Live the Penthouse Dream: Unobstructed Bay Views, enchanting sunsets over downtown San Diego. This expansive 1,504 sq.ft. penthouse-style condo delivers the rare combination of 4 true and spacious bedrooms, an open great room, and spectacular bay views from three of the four bedrooms. It’s called a million-dollar view for a reason! Inside, the home feels bright & inviting. The 31’ x 14’ great room seamlessly blends living and dining, creating an effortless flow for entertaining or relaxed coastal living. The kitchen features two-tiered granite counters for casual bar seating, custom cabinetry, and newer stainless-steel refrigerator and dishwasher. Throughout the home you’ll find new dual-pane windows, newer custom blinds, wood-look laminate flooring, and fresh flooring in the bedrooms and hallway. Major improvements include a newer roof (approx. 5 years) and a new forced-air furnace for central heat. From the front balcony, enjoy a tranquil view of the community pool. (Washer/dryer hookups are located in the kitchen pantry.) Perfectly positioned for a true Imperial Beach lifestyle, this home is just moments from the Breakwater Town Center, incredible dining options, shopping at the Imperial Beach Promenade, and best of all, the world-famous 24-Mile Bayshore Bikeway. Picture miles of serene, car-free walking and biking with the Bay on one side and the Pacific Ocean on the other. People travel the world to experience this… yet for you, it’s just outside your door. And here’s the kicker: it’s a steal. A 4-bedroom penthouse with these views, this square footage, and this walkability should easily be pushing $700K in today’s market. Instead, you’re getting all of it for only $555,000. Opportunities like this rarely show up - especially in coastal San Diego. This is penthouse living, a million-dollar view, and a wildly underpriced piece of Imperial Beach… all wrapped into one. HOA payment includes: Gas, Electricity, Water and Trash.
No exterior & parking available.
Grades K-6 • 0.1 mi
Grades 7-8 • 1.2 mi
Grades 9-12 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 2.5 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,504 | 1,324.5 |
| Lot Size | 19,501 | 4,767 |
| Price | $555.0K | $684.0K |
| Price per sq ft | $369 | $601 |
| Built year | 1990 | 1991 |
| HOA | $617.0 | $392 |
| Days on market | 34 | 92 |
Jun 18, 2026
$555,000
Initial Listing
Sep 22, 2017
$385,000
Public Record
Sep 9, 2014
$280,000
Public Record
Jun 27, 2003
$275,000
Public Record