1535 Kettner Boulevard #A
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1535 Kettner Boulevard #A

Ctop 80%

San Diego, CA 92101

$2,049,000
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.

184 licensed short-term rentals within ½ mile (162 whole home), from the cities' license and permit lists of Nov 11, 2026.

Pass at asking: -$10,703/mo full cashflow at 20% down, 7.43% rate.

Works at $655,491 (68% under asking), or at 96% down.

Rent $6,538/mo from 20 leases of 3–5 bed houses within 2 mi ($5,825–$7,325).

Beds

4

Baths

4.5

Sqft

1,920

Year Built

1998

Days on Market

138

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2605646

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

Virtual Tour

About This Property

Prime Little Italy location with incredible rental income potential. This rarely available and highly sought after Johnathan Segal detached Row Home offers 2-units, plus a garage and a separate loft unit above the garage. Located in the heart of Little Italy with the vibrant culture, restaurants, bars, shops and more just round the corner, yet this gem still provides privacy and a common space/greenbelt to enjoy. No HOA or Mello Roos. The possibilities are endless, live in one, rent out the others; use as short-term rentals; or use the entire property for yourself. The main space (unit A) offers the most square footage with huge windows that flood with natural light, 1 bedroom + an office space, 1.5 baths, projector screen TV, multiple balconies and an amazing rooftop deck with city and bay views. The bottom unit (Unit B) features 1 bedroom/1 bath and a spacious private patio, perfect for entertaining. (A & B can easily return to original layout). There is also a detached garage with a separate loft above, both offering tons of additional potential…rentals, office, room for guests, etc. Currently generates approx. $9655 in monthly income. *Seller is open to Seller Financing* See confidential remarks for more information. Buyer and buyer’s agent to verify all in MLS prior to COE.

Mortgage Calculator

Est. Monthly Payment

$14,030

Principal & Interest$11,383
Property Tax$2,049
Insurance$598
%($409,800)
%
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.

Investment Score

6C
Est. Monthly Rent
$6,538

20 leases of 3–5 bed houses within 2 mi · $5,825–$7,325

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$7,492
Full Cashflow

Incl. vacancy, PM, maint, capex

-$10,703

What would make this work?

$10,703/mo short at 20% down; 96% down or +$13,900/mo rent closes it.

Break-even price

68% under asking

$655,491
Break-even rent

$13,900/mo above the estimate

$20,438/mo
Cashflow at 35% down
−$8,569/mo
Down payment to break even

$1,967,040 cash

96%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$11,383
Cap Rate
0.59%
Cash-on-Cash
-31.34%
DSCR

Need ≥ 1.25 for DSCR loan

0.47

NOI (Annual)
$12,080
Price-to-Rent

Lower = better for investors

26.1

* 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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CCashflow−$10,703/mo