3940 Gresham St
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3940 Gresham St #152

D

San Diego, CA 92109

$2,175,000

Beds

2

Baths

2

Sqft

1,559

Year Built

1974

Days on Market

48

Property Type

Condo

HOA/mo

$1,440

MLS ID

260004729SD

This property is in San Diego (92109). View neighborhood stats →

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About This Property

Gracing the shoreline of Sail Bay, this exceptional top-floor penthouse in Bay Scene’s coveted Tower One offers refined waterfront living with sweeping southwest views of the bay and Pacific horizon. Framed by a majestic 150-year-old Torrey Pine, panoramic vistas extend from the living room, dining area, kitchen, and both bedrooms. Spanning approximately 1,559 square feet, the beautifully renovated two-bedroom, two-bath residence is designed for privacy and functionality, with no shared living-area walls, ideal bedroom separation, marble surround fireplace, in-unit laundry, and ample storage. Timeless finishes include a remodeled kitchen with quartz countertops, soft-close cabinetry, and stainless-steel appliances. A covered balcony invites you to relax and enjoy the coastal scenery. The home includes two assigned underground parking spaces and access to a secure garage with car-washing area. Bay Scene is Sail Bay’s premier bayfront condominium community, offering resort-style amenities: a heated waterfront pool and spa, BBQ areas, fitness center, clubhouse, kayak and paddleboard storage, elevators, secure entry, and direct access to the sand and boardwalk. Just moments from the ocean, parks, shops, and dining, this rare penthouse delivers luxury coastal living at its finest.

Mortgage Calculator

Est. Monthly Payment

$15,247

Principal & Interest$10,998
Property Tax$2,175
Insurance$634
HOA$1,440
%($435,000)
%

Location

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Investment Score

0D
Est. Monthly Rent
$3,691
Monthly Cashflow

Rent − PITIA

$-11,556
Full Cashflow

Incl. vacancy, PM, maint, capex

$-14,217

Mortgage (P+I)
$10,998
Cap Rate
-1.78%
Cash-on-Cash
-39.22%
DSCR

⚠️ Need ≥ 1.25 for DSCR loan

0.24
Break-even Rent
$22,155

NOI (Annual)
$-38,633
Price-to-Rent

Lower = better for investors

49.1

* Defaults: 20% down, 6.5% rate, 30yr.

Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.

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