5473 Adobe Falls Rd- #16
Atop 10%San Diego, CA 92120
9 licensed short-term rentals within ½ mile (6 whole home), from the cities' license and permit lists of Nov 10, 2026.
No unit in this 64-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: -$1,474/mo full cashflow at 20% down, 7.43% rate.
Works at $187,086 (51% under asking), or at 77% down.
Rent $2,529/mo from 8 leases of 2-bed condos & townhomes within 1 mi ($2,520–$2,679).
Beds
2
Baths
1.5
Sqft
884
Year Built
1973
Days on Market
95
Property Type
Condo
HOA/mo
$510
MLS ID
NDP2607425
This property is in San Diego (92120). View neighborhood stats →
About This Property
One of the best locations in the complex! VA Approved condos. Nestled among mature landscaping in the highly desirable Adobe Falls community, this light and bright upstairs end-unit features soaring vaulted ceilings. An excellent opportunity for first-time homebuyers, investors, or those looking to complete a 1031 exchange. Located just minutes from SDSU, this 2-bedroom condo offers outstanding potential as a student rental or long-term investment. The condo includes one deeded parking space (#3) plus an additional rented parking space that may be transferred to the new owner. Newer dual-pane windows, laminate flooring in the kitchen and dining area, tiled bathrooms, and a convenient in-unit laundry closet with washer and dryer included. Enjoy your private balcony with an attached storage closet, perfect for relaxing outdoors. Adobe Falls is a beautifully maintained community featuring a sparkling pool, spa, clubhouse, lush landscaping, and a responsive HOA. HOA dues include water, trash, common area maintenance, roof maintenance, and exterior building maintenance. Ideally located near Mission Valley shopping, countless restaurants, and SDSU, this home is adjacent to the highly desirable Del Cerro and San Carlos communities, known for their established neighborhoods, scenic hiking and biking trails, and exceptional central location. Enjoy convenient access to Interstate 8, Highways 15 and 125, making commuting throughout San Diego a breeze. You'll also be approximately 15 to 20 minutes from Mission Beach, Pacific Beach, and many of San Diego's world-famous beaches (traffic permitting), as well as close to downtown, Qualcomm Stadium redevelopment (Mission Valley), shopping, entertainment, and major employers. Whether you're a first-time buyer, investor, or completing a 1031 exchange, this home offers an unbeatable combination of affordability, convenience, lifestyle, and future upside. Don't miss this opportunity to build equity in one of San Diego's most desirable central locations!
Mortgage Calculator
Est. Monthly Payment
$3,105
Location
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Zoned Schools
Elementary
Foster Elementary · grades K-5 · San Diego Unified
Middle
Lewis Middle · grades 6-8 · San Diego Unified
High
Henry 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
$2,529
Comp Average
$2,622
6955 Alvarado Rd
2bd / 2ba · 879 sqft · Condo
$413K
Est. $2,810/mo
6955 Alvarado Road
2bd / 2ba · 879 sqft · Condo
$400K
Est. $2,705/mo
5442 Adobe Falls
2bd / 1.5ba · 884 sqft · Condo
$444K
Est. $2,482/mo
5473 Adobe Falls Rd
2bd / 1.5ba · 884 sqft · Condo
$450K
Est. $2,529/mo
7757 Margerum Ave
2bd / 2ba · 912 sqft · Condo
$499K
Est. $2,586/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
8 leases of 2-bed condos & townhomes within 1 mi · $2,520–$2,679
Blended 50/50 with a property-level estimate
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$1,474/mo short at 20% down; 77% down or +$1,914/mo rent closes it.
- Break-even price
- $187,086
- Break-even rent
- $4,443/mo
- Cashflow at 35% down
- −$1,079/mo
- Down payment to break even
- 77%
- Rate to break even
- Not reachable
51% under asking
$1,914/mo above the estimate
$291,830 cash
Negative even at a 0% loan
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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