3525 Lebon Dr. #307
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3525 Lebon Dr. #307

Ctop 80%

San Diego, CA 92122

$719,000
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.

9 licensed short-term rentals within ½ mile (6 whole home), from the cities' license and permit lists of Nov 10, 2026.

1 short-term rental license on file in this 54-unit complex, so its HOA has allowed them. Confirm in the CC&Rs: an HOA can ban stays under 30 days (Civ. Code §4741).

Pass at asking: -$3,487/mo full cashflow at 20% down, 7.43% rate.

Works at $265,031 (63% under asking), or at 90% down.

Rent $3,425/mo from 1 lease in this building.

Beds

2

Baths

2

Sqft

1,138

Year Built

1981

Days on Market

101

Property Type

Condo

HOA/mo

$602

MLS ID

NDP2607211

This property is in San Diego (92122). View neighborhood stats →

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About This Property

Experience turnkey living in the highly desirable La Jolla Garden Villas. This beautifully renovated 2-bedroom, 2-bath residence with a versatile loft features quality finishes, custom cabinetry, built-in storage, and approximately 1,138 square feet of well-designed living space. The loft provides flexible space for a home office or additional sleeping area, while the private patio is ideal for relaxing or dining outdoors. Custom closets and additional cabinetry offer exceptional storage rarely found in condominium living. Designed for privacy, the unique layout creates an ideal guest suite or workspace with excellent sound separation, allowing two people to comfortably work from home at the same time without interrupting calls or meetings. The home includes two assigned underground parking spaces in a convenient drive-through configuration (not tandem), a private storage cage on the garage level, and access via a brand-new elevator. La Jolla Garden Villas is a boutique community of just 54 residences with a high owner-occupancy rate, creating a welcoming neighborhood feel. Residents enjoy secure gated entry, security cameras throughout the community, beautifully maintained grounds, a pool, spa, newly renovated clubhouse with a full kitchen, BBQ area, and controlled access from both the street and garage. Ideally located in the heart of University City, you're within walking distance of shopping, restaurants, UC San Diego, the UC San Diego Blue Line Trolley, and multiple bus routes. La Jolla Shores, UTC, Torrey Pines Golf Course, and major freeways are all just minutes away. Whether you're searching for a primary residence, a home near campus, or an investment opportunity, this location offers exceptional convenience. Move-in ready and thoughtfully updated, this home combines a functional floor plan with one of San Diego's most desirable locations.

Mortgage Calculator

Est. Monthly Payment

$5,525

Principal & Interest$3,994
Property Tax$719
Insurance$210
HOA$602
%($143,800)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Doyle Elementary · grades K-5 · San Diego Unified

  • Middle

    Standley Middle · grades 6-8 · San Diego Unified

  • High

    University City 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

26C
Est. Monthly Rent
$3,425

1 lease in this building

Blended 50/50 with a property-level estimate

Thin data: only 1 lease behind this number.

Monthly Cashflow

Rent − PITIA

-$2,100
Full Cashflow

Incl. vacancy, PM, maint, capex

-$3,487

What would make this work?

$3,487/mo short at 20% down; 90% down or +$4,529/mo rent closes it.

Break-even price

63% under asking

$265,031
Break-even rent

$4,529/mo above the estimate

$7,954/mo
Cashflow at 35% down
−$2,738/mo
Down payment to break even

$647,100 cash

90%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$3,994
Cap Rate
1.13%
Cash-on-Cash
-29.10%
DSCR

Need ≥ 1.25 for DSCR loan

0.62

NOI (Annual)
$8,140
Price-to-Rent

Lower = better for investors

17.5

* 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−$3,487/mo