1642 7th Ave #123
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1642 7th Ave #123

Btop 30%

San Diego, CA 92101

$479,000
STR: check · no permits in this complex · TOT 13.75%

155 licensed short-term rentals within ½ mile (125 whole home), from the cities' license and permit lists of Nov 10, 2026.

No unit in this 63-unit complex holds a short-term rental license, so nothing shows its HOA allows them. Get the CC&Rs before counting on short-term income.

Pass at asking: -$2,039/mo full cashflow at 20% down, 7.43% rate.

Works at $213,588 (55% under asking), or at 82% down.

Rent $2,895/mo from 18 leases of 1-bed condos & townhomes within 0.5 mi, same school area ($2,460–$3,042).

Beds

1

Baths

1

Sqft

757

Year Built

2004

Days on Market

45

Property Type

Condo

HOA/mo

$589

MLS ID

260023264SD

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

Virtual Tour

About This Property

The Mills at Cortez Hills, ideally located in San Diego’s charming Cortez Hill neighborhood, approximately one mile from Petco Park and minutes from Balboa Park, Little Italy, the Gaslamp Quarter, and downtown’s dining, entertainment and nightlife. Pet-friendly community with long, wide streets, making it convenient and enjoyable to walk your dog. This thoughtfully upgraded residence combines modern style with smart-home convenience. Improvements completed approximately five years ago include new flooring, an updated shower, contemporary linear lighting, recessed downlights, an updated electrical system, smart switches, and a smart thermostat. A lighted bathroom mirror and California-style closet doors add additional touches of style and functionality. One of The Mills’ most distinctive features is the historic Mills House, a beautifully preserved Craftsman-style home dating to the early 1900s originally built by legendary architect Irving Gill. The home is incorporated into the community as a resident amenity, this approximately 3,200-square-foot gathering space includes a full kitchen, living and dining areas, a family room with fireplace and pool table, large-screen TV, and conference room—an exceptional setting for private gatherings and community events. Residents also enjoy a fitness center, secured underground parking, high-speed elevators, landscaped courtyards, multiple lobby entrances, and nighttime security. Experience the best of urban San Diego living in a community that blends historic character, modern convenience, and an unbeatable downtown location.

Mortgage Calculator

Est. Monthly Payment

$3,869

Principal & Interest$2,661
Property Tax$479
Insurance$140
HOA$589
%($95,800)
%
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

49B
Est. Monthly Rent
$2,895

18 leases of 1-bed condos & townhomes within 0.5 mi, same school area · $2,460–$3,042

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$974
Full Cashflow

Incl. vacancy, PM, maint, capex

-$2,039

What would make this work?

$2,039/mo short at 20% down; 82% down or +$2,648/mo rent closes it.

Break-even price

55% under asking

$213,588
Break-even rent

$2,648/mo above the estimate

$5,543/mo
Cashflow at 35% down
−$1,540/mo
Down payment to break even

$392,780 cash

82%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$2,661
Cap Rate
1.92%
Cash-on-Cash
-25.54%
DSCR

Need ≥ 1.25 for DSCR loan

0.75

NOI (Annual)
$9,201
Price-to-Rent

Lower = better for investors

13.8

* 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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BCashflow−$2,039/mo