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Baby Got Back on the market! Subject to cancellation of current escrow. The previous buyer's agent has notified us: "My client has decided to back out of the deal. Tried to make it work, but considering the amount of work and unknown costs, he decided to pull the plug. Historic Gem with Mills Act Potential Rare opportunity to acquire a designated historic property at 2629 Island Ave in the heart of San Diego's vibrant Little Italy/Bankers Hill corridor. This home offers significant upside for the right investor or owner-user. Key Highlights: Mills Act Eligible: Potential property tax savings of 40-60% annually through San Diego's historic preservation program Proven Income History: Former short-term rental generating $6,000/month gross income Prime 92101 Location: Walking distance to downtown, waterfront, restaurants, and entertainment Current Status: Property has outstanding code violations from recent remodeling work that must be resolved by buyer. Sold strictly AS-IS. Cash or hard money financing required - no conventional or FHA/VA loans. Ideal For: Experienced investors comfortable with code compliance issues Buyers seeking Mills Act tax advantages Those looking to restore a historic property to rental or primary residence This is a unique chance to own a piece of San Diego history while capturing substantial tax benefits. Property priced to reflect current condition and violation resolution costs. Serious inquiries only from qualified cash buyers.
Property Type(s):
Single Family
| Last Updated | 3/14/2026 | Year Built | 1920 |
|---|---|---|---|
| Community | 92102 - San Diego | Garage Spaces | 1.0 |
| County | San Diego |
Price History
| Prior to Mar 14, '26 | $300,000 |
|---|---|
| Mar 14, '26 - Today | $550,000 |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dryer |
| AREA | 92102 - San Diego |
| GARAGE | Yes |
| HEAT | None |
| LOT | 1742 sq ft |
| LOT DIMENSIONS | 0.04 |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| VIEW | Yes |
| VIEW DESCRIPTION | City Lights, Ocean, Panoramic |
Location
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Listed with Joshua Daniel Massieh
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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