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Seize one of San Diego's most constrained submarkets with this shovel-ready development opportunity in the heart of Point Loma. Zoned RM-3-7 and fully entitled with an approved, Ready-to-Issue (RTI) 8-unit plan, this asset lets you bypass the city's lengthy entitlement process entirely and break ground immediately upon closing. The property currently has two fully furnished short-term rental units. The front unit is a 2-bedroom SFH; the rear is a detached 1-bedroom ADU. Both feature full kitchens and in-unit washer/dryers, ready for short- or long-term tenancy from day one. Upon completion of the 8 additional one-bedroom units, the project is projected to achieve $23,000+ in gross monthly revenue. The site's flexibility supports multiple exit strategies: a high-yield, long-term portfolio hold or a strategic condo conversion. A complete data room is ready for immediate review, including approved architectural plans, civil engineering, site plans, and a comprehensive pro forma.
Property Type(s):
Single Family
| Last Updated | 5/18/2026 | Tract | Ocean Beach |
|---|---|---|---|
| Year Built | 1941 | Community | 92107 - Ocean Beach |
| County | San Diego |
Price History
| Prior to Apr 22, '26 | $1,649,000 |
|---|---|
| Apr 22, '26 - May 18, '26 | $1,624,000 |
| May 18, '26 - Today | $1,599,000 |
Additional Details
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dryer, Freezer, Gas Cooktop, Microwave, Refrigerator, Washer |
| AREA | 92107 - Ocean Beach |
| CONSTRUCTION | Adobe, Frame |
| HEAT | Central |
| INTERIOR | Ceiling Fan(s), Eat-in Kitchen, Laminate Counters, Open Floorplan, Recessed Lighting, Tile Counters |
| LOT | 5602 sq ft |
| LOT DESCRIPTION | Back Yard, Cul-De-Sac, Front Yard |
| LOT DIMENSIONS | 5602 |
| PARKING | Concrete, Driveway, Off Street, Paved, Private |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| STYLE | Bungalow, Cottage, MidCenturyModern |
| SUBDIVISION | Ocean Beach |
| UTILITIES | Cable Available, Cable Connected, Electricity Available, Electricity Connected, Sewer Available, Sewer Connected, Water Available, Water Connected |
| VIEW DESCRIPTION | None |
| WATER | Public |
Location
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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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