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1262 Kettner #2801
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1262 Kettner #2801

Dbottom 20%

San Diego, CA 92101

$3,690,000
STR-eligible · San Diego Tier 3 · TOT 13.75%

One license per person in San Diego: whether you can hold it depends on you, not only the home.

130 licensed short-term rentals within ½ mile (115 whole home), from the cities' license and permit lists of Nov 10, 2026.

1 short-term rental license on file in this 58-unit complex, so its HOA has allowed them. Confirm in the CC&Rs: an HOA can ban stays under 30 days (Civ. Code §4741).

Pass at asking: -$21,930/mo full cashflow at 20% down, 7.43% rate.

Works at $834,679 (77% under asking); even all cash loses money at asking.

Rent $11,012/mo from 4 leases in this building ($6,852–$8,133). Previously leased for $11,200.

Beds

2

Baths

2.5

Sqft

2,981

Year Built

2008

Days on Market

110

Property Type

Condo

HOA/mo

$2,069

MLS ID

260018058SD

This property is in San Diego (92101). View neighborhood stats →

Virtual Tour

About This Property

Exquisite half floor penthouse in downtown’s finest boutique Sapphire Tower! This unit has floor to ceiling glass, spacious open plan and 10½ ft ceilings. Floor-to-ceiling windows offer 180 degree bay and ocean views. Exclusive private foyer off direct elevator access. Luxury finishes in remodeled kitchen & bathrooms. Included are 2 underground parking spaces & storage, 24-hour security & concierge, BBQ, rooftop pool/spa, fitness room & theater. Pet-friendly. Steps from vibrant Little Italy, cruise terminal & Gaslamp

Mortgage Calculator

Est. Monthly Payment

$27,335

Principal & Interest$20,500
Property Tax$3,690
Insurance$1,076
HOA$2,069
%($738,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Washington Elementary · grades PK-5 · San Diego Unified

  • Middle

    Roosevelt International Middle · grades 6-8 · San Diego Unified

  • High

    San Diego High · grades 9-12 · San Diego Unified

The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.

Comparable Properties

5 comps found

This Property

$11,012

vs

Comp Average

$7,441

877 Island Avenue

877 Island Avenue

3bd / 2.5ba · 2,914 sqft · Condo

$2.65M

Est. $9,153/mo

700 Front Street

700 Front Street

2bd / 2.5ba · 2,810 sqft · Condo

$3.95M

Est. $6,647/mo

700 Front

700 Front

2bd / 2.5ba · 2,660 sqft · Condo

$3.25M

Est. $6,467/mo

700 Front Street

700 Front Street

2bd / 2.5ba · 2,260 sqft · Condo

$2.55M

Est. $5,961/mo

645 Front St

645 Front St

3bd / 3.5ba · 3,783 sqft · Condo

$3.70M

Est. $8,976/mo

Comps based on same zip code, similar beds (±1), price range (60-150%).

Investment Score

0D
Est. Monthly Rent
$11,012

Previously leased for $11,200

4 leases in this building · $6,852–$8,133

Monthly Cashflow

Rent − PITIA

-$16,323
Full Cashflow

Incl. vacancy, PM, maint, capex

-$21,930

What would make this work?

$21,930/mo short at 20% down; +$28,481/mo rent closes it.

Break-even price

77% under asking

$834,679
Break-even rent

$28,481/mo above the estimate

$39,493/mo
Cashflow at 35% down
−$18,087/mo
Down payment to break even

Negative even all-cash

Not reachable
Rate to break even

Negative even at a 0% loan

Not reachable
Mortgage (P+I)
$20,500
Cap Rate
-0.29%
Cash-on-Cash
-35.66%
DSCR

Need ≥ 1.25 for DSCR loan

0.40
NOI (Annual)
-$10,562
Price-to-Rent

Lower = better for investors

27.9

* Modelled at 20% down, 7.43% rate, 30yr · vacancy 8% · PM 10% · capex 5% · maintenance 1%/yr.

Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.

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DCashflow−$21,930/mo