2830 Island St
1 / 2

2830 Island St

Atop 10%

San Diego, CA 92102

$500,000
NEW — 0d
STR-eligible · San Diego Tier 3 · TOT 12.75%

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

139 licensed short-term rentals within ½ mile (100 whole home), from the cities' license and permit lists of Nov 8, 2026.

Pass at asking: -$1,729/mo full cashflow at 20% down, 7.43% rate.

Works at $274,923 (45% under asking), or at 70% down.

Rent $2,742/mo from 14 leases of studio–2 bed houses within 1 mi ($2,668–$3,457).

Beds

1

Baths

1

Sqft

1,126

Year Built

1925

Days on Market

0

Property Type

Single Family

HOA/mo

N/A

MLS ID

PTP2608290

This property is in San Diego (92102). View neighborhood stats →

About This Property

RARE MULTIFAMILY DEVELOPMENT OPPORTUNITY | R-4 ZONING | PANORAMIC HARBOR VIEWS | DUAL ACCESS ATTENTION INVESTORS, BUILDERS & DEVELOPERS! Exceptional opportunity to acquire an approximately 8,583-square-foot parcel with R-4 Multiple Residential zoning in San Diego! This distinctive property offers exciting possibilities for multifamily residential development in a desirable urban location. A standout feature is the property's TWO ACCESS POINTS, with direct street access from Island Avenue and additional access via an easement off Market Street, providing valuable flexibility for future site planning and development. Perched in an elevated setting, the property captures breathtaking, unobstructed panoramic views of San Diego Harbor, South Bay, and the surrounding mountains, extending all the way to Tijuana, Mexico, on clear days. With its generous lot size, multiple residential zoning, dual access, and spectacular views, this property presents a compelling opportunity to explore a multifamily residential project or other permitted development possibilities. LOCATION! ZONING! VIEWS! DUAL ACCESS! Bring your architect, builder, and vision to unlock the potential of this exceptional San Diego investment opportunity! Buyer to independently verify zoning designation, permitted density, development potential, easement rights, access, and all applicable City of San Diego requirements.

Mortgage Calculator

Est. Monthly Payment

$3,424

Principal & Interest$2,778
Property Tax$500
Insurance$146
%($100,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Kimbrough Elementary · grades PK-5 · San Diego Unified

  • Middle

    Logan Memorial Educational Campus · grades PK-12 · San Diego Unified

  • High

    Logan Memorial Educational Campus · grades PK-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

64A
Est. Monthly Rent
$2,742

14 leases of studio–2 bed houses within 1 mi · $2,668–$3,457

Blended 50/50 with the zip's market median ($2,186)

Monthly Cashflow

Rent − PITIA

-$682
Full Cashflow

Incl. vacancy, PM, maint, capex

-$1,729

What would make this work?

$1,729/mo short at 20% down; 70% down or +$2,246/mo rent closes it.

Break-even price

45% under asking

$274,923
Break-even rent

$2,246/mo above the estimate

$4,988/mo
Cashflow at 35% down
−$1,208/mo
Down payment to break even

$350,000 cash

70%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$2,778
Cap Rate
2.85%
Cash-on-Cash
-20.75%
DSCR

Need ≥ 1.25 for DSCR loan

0.80

NOI (Annual)
$14,229
Price-to-Rent

Lower = better for investors

15.2

* 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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ACashflow−$1,729/mo