3535 1st Ave #5A
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3535 1st Ave #5A

Ctop 80%

San Diego, CA 92103

$639,950
STR: check · HOA rules unknown · TOT 12.75%

92 licensed short-term rentals within ½ mile (68 whole home), from the cities' license and permit lists of Nov 11, 2026.

HOA rules unknown: an HOA can ban stays under 30 days (Civ. Code §4741), and no permit on file shows this one allows them. Get the CC&Rs.

Pass at asking: -$3,430/mo full cashflow at 20% down, 7.43% rate.

Works at $193,497 (70% under asking), or at 98% down.

Rent $3,910/mo from 8 leases of 2-bed condos & townhomes within 0.5 mi, same school area ($3,823–$5,812). Previously leased for $3,850.

Beds

2

Baths

2

Sqft

1,470

Year Built

1973

Days on Market

91

Property Type

Condo

HOA/mo

$1,525

MLS ID

260019593SD

This property is in San Diego (92103). View neighborhood stats →

Virtual Tour

About This Property

Welcome to Century Plaza Towers — one of San Diego's most iconic mid-century modern residences, ideally situated in prestigious Bankers Hill with easy access to Balboa Park, Little Italy, and the best of Hillcrest dining and shopping. This spacious condo offers sweeping city and treetop views from nearly every room, thanks to floor-to-ceiling glass windows that flood the open living space with natural light. Step out onto your private balcony and soak in San Diego's skyline and year-round sunshine. The kitchen features warm wood cabinetry, dark granite countertops, and stainless steel appliances, flowing seamlessly into a glass-wrapped dining area with panoramic views. Both bedrooms are generously sized, with large sliding windows. A private in-unit laundry room adds everyday convenience, while a built-in wet bar with wine cooler brings a refined touch. A rare bonus for buyers: as prime example of modernism, Century Plaza Towers has qualified for the Mills Act, San Diego's historic preservation program that significantly reduces property taxes. Assigned indoor parking included. With a beautifully appointed lobby, luxurious common penthouse and gym, full-time on-site building management, secure entry, and an unbeatable location just minutes from Balboa Park, the San Diego Zoo, and major freeways, this is urban San Diego living and smart ownership at its finest.

Mortgage Calculator

Est. Monthly Payment

$5,907

Principal & Interest$3,555
Property Tax$640
Insurance$187
HOA$1,525
%($127,990)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Florence 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

22C
Est. Monthly Rent
$3,910

Previously leased for $3,850

8 leases of 2-bed condos & townhomes within 0.5 mi, same school area · $3,823–$5,812

Monthly Cashflow

Rent − PITIA

-$1,997
Full Cashflow

Incl. vacancy, PM, maint, capex

-$3,430

What would make this work?

$3,430/mo short at 20% down; 98% down or +$4,454/mo rent closes it.

Break-even price

70% under asking

$193,497
Break-even rent

$4,454/mo above the estimate

$8,364/mo
Cashflow at 35% down
−$2,763/mo
Down payment to break even

$627,151 cash

98%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$3,555
Cap Rate
0.60%
Cash-on-Cash
-32.16%
DSCR

Need ≥ 1.25 for DSCR loan

0.66

NOI (Annual)
$3,852
Price-to-Rent

Lower = better for investors

13.6

* 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−$3,430/mo