221 Island Ave

221 Island Ave #1

D

San Diego, CA 92101

$569,000

Beds

1

Baths

2

Sqft

778

Year Built

1996

Days on Market

9

Property Type

Condo

HOA/mo

$488

MLS ID

260006594SD

View on MLS

Description

Rarely available Urban Loft in the iconic Island Lofts, designed by renowned contemporary architect Jonathan Segal. This top-floor 1 bedroom, 2 bath residence showcases dramatic 17-foot ceilings, floor-to-ceiling windows, and abundant natural light, creating a bright, open, and airy living space. The flexible layout features a main-level living area with full bath and a spiral staircase leading to a private loft-style primary suite. Enjoy city views from the private balcony—perfect for entertaining or relaxing while taking in the energy of the Marina District. Thoughtfully updated with laminate wood flooring, modernized bathrooms, and in-unit washer/dryer for everyday convenience. Includes one assigned gated parking space, with guest parking options nearby. VA approved complex. Ideally located in the Marina District just steps from a new children’s park and dog park, and close to the iconic Rady Shell, as well as the Gaslamp Quarter, Petco Park, top dining, shopping, museums, the waterfront, and easy freeway access. A rare opportunity to own a distinctive architectural residence in the heart of Downtown.

Mortgage Calculator

Est. Monthly Payment

$4,100

Principal & Interest$2,877
Property Tax$569
Insurance$166
HOA$488
%($113,800)
%

Investment Score

3D
Est. Monthly Rent
$2,783
Monthly Cashflow

Rent − PITI − HOA

$-1,317
Full Cashflow

Incl. vacancy, PM, maint, capex

$-2,431

Mortgage (P+I)
$2,877
Cap Rate
0.94%
Cash-on-Cash
-25.64%
DSCR

⚠️ Need ≥ 1.25 for DSCR loan

0.68
Break-even Rent
$5,941

NOI (Annual)
$5,349
Price-to-Rent

Lower = better for investors

17.0

* Defaults: 20% down, 6.5% rate, 30yr.

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

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