3796 Alabama #004
Atop 10%San Diego, CA 92104
130 licensed short-term rentals within ½ mile (90 whole home), from the cities' license and permit lists of Nov 7, 2026.
No unit in this 89-unit complex holds a short-term rental license, so nothing shows its HOA allows them. Get the CC&Rs before counting on short-term income.
Pass at asking: -$725/mo full cashflow at 20% down, 7.43% rate.
Works at $140,622 (40% under asking), or at 65% down.
Rent $1,926/mo from 8 leases of 1-bed condos & townhomes within 0.5 mi, same school area ($1,683–$1,989).
Beds
1
Baths
1
Sqft
378
Year Built
1981
Days on Market
135
Property Type
Condo
HOA/mo
$403
MLS ID
OC26137376
This property is in San Diego (92104). View neighborhood stats →
About This Property
Recently refreshed with Luxury Vinyl Flooring - this is a must see! Villa Sao Miguel offers a cozy, quiet 1-bedroom, 1-bath, 378 sq. ft. first-floor, street-level unit with no stairs. It’s in a prime spot on the western edge of North Park, close to Hillcrest, Balboa Park’s Morley Field, charming historic neighborhoods, great shopping, dining, and recreation. Morley Field, just blocks away, has swimming and tennis, with easy access to Balboa Park via Alabama Street. Residents must be 55+, but buyers can be any age. The complex boasts amenities like billiards, a craft room, library, fitness room, and laundry facilities—all conveniently on the same floor as this condo. Each unit includes storage space and access to gated, unassigned off-street parking on a first-come basis. The community also has elevator access and plenty of peaceful indoor and outdoor seating areas. The $403/month HOA fee covers water, trash, sewer, common area upkeep, landscaping, building maintenance, limited insurance, and pest control. This condo is priced to sell!
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Est. Monthly Payment
$2,012
Location
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Zoned Schools
Elementary
Jefferson 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.
Comparable Properties
5 comps foundThis Property
$1,926
Comp Average
$1,789
3796 Alabama
1bd / 1ba · 378 sqft · Condo
$200K
Est. $1,832/mo
3776 Alabama
1bd / 1ba · 378 sqft · Condo
$255K
Est. $1,769/mo
3796 Alabama St
1bd / 1ba · 378 sqft · Condo
$280K
Est. $1,926/mo
3776 Alabama St
1bd / 1ba · 378 sqft · Condo
$250K
Est. $1,695/mo
3796 Alabama St
1bd / 1ba · 378 sqft · Condo
$280K
Est. $1,725/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
8 leases of 1-bed condos & townhomes within 0.5 mi, same school area · $1,683–$1,989
Blended 50/50 with the zip's market median ($2,020)
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$725/mo short at 20% down; 65% down or +$942/mo rent closes it.
- Break-even price
- $140,622
- Break-even rent
- $2,868/mo
- Cashflow at 35% down
- −$481/mo
- Down payment to break even
- 65%
- Rate to break even
- 0.71%
40% under asking
$942/mo above the estimate
$152,750 cash
at 20% down
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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