445 Island #321
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445 Island #321

Atop 10%

San Diego, CA 92101

$375,000
STR: check · no permits in this complex · TOT 13.75%

203 licensed short-term rentals within ½ mile (132 whole home), from the cities' license and permit lists of Nov 7, 2026.

No unit in this 83-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: -$1,525/mo full cashflow at 20% down, 7.43% rate.

Works at $176,405 (53% under asking), or at 79% down.

Rent $2,733/mo from 2 leases in this building (±1 bed) ($2,729–$2,737).

Beds

1

Baths

1

Sqft

807

Year Built

2006

Days on Market

45

Property Type

Condo

HOA/mo

$750

MLS ID

260023158SD

This property is in San Diego (92101). View neighborhood stats →

About This Property

Spacious 1-bedroom residence at Gaslamp City Square featuring an open floor plan and an ideal orientation overlooking Fifth Avenue in the heart of the Gaslamp Quarter. At approximately 807 sq. ft., this is one of the larger 1-bedroom floor plans in the community. The living area features an upgraded entertainment center that adds architectural interest along with valuable built-in storage. Generous closet space includes a walk-in closet plus additional closets outside the bedroom. Enjoy a central downtown location with dining, entertainment, Petco Park and the waterfront all nearby. The open floor plan creates an easy flow between the kitchen, dining and living areas and provides flexibility for both everyday living and entertaining. A custom upgraded entertainment center is a standout feature of the living room, adding a finished design element while also providing useful built-in storage. Storage is another notable feature of the residence. In addition to the walk-in closet, the floor plan includes additional closet space outside the bedroom—an especially useful feature for a downtown one-bedroom residence. Gaslamp City Square places residents in a highly walkable location close to restaurants, cafés, nightlife, shopping, Petco Park, the Convention Center and the San Diego waterfront. Community amenities include a pool and fitness center, with amenities conveniently located on the same level as the residence. The unit also includes an owned parking space.

Mortgage Calculator

Est. Monthly Payment

$3,318

Principal & Interest$2,083
Property Tax$375
Insurance$109
HOA$750
%($75,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Washington 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

57A
Est. Monthly Rent
$2,733

2 leases in this building (±1 bed) · $2,729–$2,737

Thin data: only 2 leases behind this number.

Monthly Cashflow

Rent − PITIA

-$584
Full Cashflow

Incl. vacancy, PM, maint, capex

-$1,525

What would make this work?

$1,525/mo short at 20% down; 79% down or +$1,981/mo rent closes it.

Break-even price

53% under asking

$176,405
Break-even rent

$1,981/mo above the estimate

$4,714/mo
Cashflow at 35% down
−$1,135/mo
Down payment to break even

$296,250 cash

79%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$2,083
Cap Rate
2.22%
Cash-on-Cash
-24.41%
DSCR

Need ≥ 1.25 for DSCR loan

0.82

NOI (Annual)
$8,335
Price-to-Rent

Lower = better for investors

11.4

* 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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ACashflow−$1,525/mo