
2830 Island St
Atop 10%San Diego, CA 92102
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.
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Est. Monthly Payment
$3,424
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.
Comparable Properties
4 comps foundThis Property
$2,742
Comp Average
$2,843
3990 Broadway
2bd / 1ba · 822 sqft · Single Family
$575K
Est. $2,867/mo
244 26th St
2bd / 2ba · 900 sqft · Single Family
$679K
Est. $2,937/mo
3164 L St
2bd / 1.5ba · 797 sqft · Single Family
$675K
Est. $2,784/mo
3170 L Street
2bd / 1.5ba · 797 sqft · Single Family
$675K
Est. $2,784/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
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)
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$1,729/mo short at 20% down; 70% down or +$2,246/mo rent closes it.
- Break-even price
- $274,923
- Break-even rent
- $4,988/mo
- Cashflow at 35% down
- −$1,208/mo
- Down payment to break even
- 70%
- Rate to break even
- Not reachable
45% under asking
$2,246/mo above the estimate
$350,000 cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* 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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