
4738 40 Del Mar
Ctop 80%San Diego, CA 92107
One license per person in San Diego: whether you can hold it depends on you, not only the home.
This parcel holds a short-term rental license: Tier 3 (whole home), through Apr 2027. It doesn’t transfer: a buyer applies for their own.
208 licensed short-term rentals within ½ mile (160 whole home), from the cities' license and permit lists of Nov 14, 2026.
Pass at asking: -$10,869/mo full cashflow at 20% down, 7.36% rate.
Works at $575,813 (71% under asking), or at 99% down.
Rent $5,715/mo from 9 leases of 3–5 bed houses within 1 mi ($5,526–$5,790).
Beds
4
Baths
2
Sqft
1,483
Year Built
1960
Days on Market
—
Property Type
Single Family
HOA/mo
N/A
MLS ID
260027103SD
This property is in San Diego (92107). View neighborhood stats →
About This Property
Where South Ocean Beach meets Sunset Cliffs lies this picture perfect 2-on-1 cottage duplex full of vintage coastal charm on a spacious ~7,000 square foot lot. Set back and elevated above the street, up a pathway surrounded by various plants and drought-tolerant landscaping, you'll find two individual 2-bed / 1-bath homes. The front home, a 1930s Craftsman design offers peek ocean views, a recently remodeled bathroom, and a colorful tiled kitchen. The rear home, built in the 50s, features original tiles & fixtures in the kitchen and bathroom, as well as its own private backyard. Each home is about 750 sqft. and offers hardwood flooring, wonderful natural light with plenty of windows, and various outdoor spaces for relaxation, gardening or entertaining. A one-car garage is accessible from the rear alley. This is an incredible opportunity to purchase a home to live in while renting out the other, lease both as an investment property or continue the success the current owner has had as a vacation rental property.
Mortgage Calculator
Est. Monthly Payment
$13,604
Location
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Zoned Schools
Elementary
Ocean Beach Elementary · grades PK-4 · San Diego Unified
Middle
Correia Middle · grades 7-8 · San Diego Unified
High
Point Loma 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
$5,715
Comp Average
$5,994
4145 Narragansett Ave
3bd / 3.5ba · 1,456 sqft · Single Family
$1.75M
Est. $6,045/mo
3805 Atascadero Dr
3bd / 2ba · 1,680 sqft · Single Family
$1.77M
Est. $5,989/mo
4761 Bermuda Avenue
3bd / 2.5ba · 1,530 sqft · Single Family
$1.95M
Est. $6,190/mo
1358 Ebers St
3bd / 2ba · 1,431 sqft · Single Family
$1.99M
Est. $5,719/mo
4637 Del Mar Ave
4bd / 2ba · 1,649 sqft · Single Family
$2.50M
Est. $6,026/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
9 leases of 3–5 bed houses within 1 mi · $5,526–$5,790
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$10,869/mo short at 20% down; 99% down or +$14,115/mo rent closes it.
- Break-even price
- $575,813
- Break-even rent
- $19,830/mo
- Cashflow at 35% down
- −$8,802/mo
- Down payment to break even
- 99%
- Rate to break even
- Not reachable
71% under asking
$14,115/mo above the estimate
$1,978,020 cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* Modelled at 20% down, 7.36% 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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