5645 Friars Rd #386
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5645 Friars Rd #386

Btop 30%

San Diego, CA 92110

$650,000
STR-eligible · San Diego Tier 3 · TOT 12.75%

One license per person in San Diego: whether you can hold it depends on you, not only the home.

22 licensed short-term rentals within ½ mile (18 whole home), from the cities' license and permit lists of Nov 9, 2026.

1 short-term rental license on file in this 67-unit complex, so its HOA has allowed them. Confirm in the CC&Rs: an HOA can ban stays under 30 days (Civ. Code §4741).

Pass at asking: -$2,513/mo full cashflow at 20% down, 7.43% rate.

Works at $322,896 (50% under asking), or at 76% down.

Rent $4,140/mo from 12 leases of 2–4 bed condos & townhomes within 1 mi, same school area ($3,357–$3,756).

Beds

3

Baths

2

Sqft

1,331

Year Built

1981

Days on Market

48

Property Type

Condo

HOA/mo

$708

MLS ID

260023248SD

This property is in San Diego (92110). View neighborhood stats →

Virtual Tour

About This Property

Top-floor corner units in Presidio Place don't come up often, and this one makes a strong case for why they go fast when they do. Vaulted ceilings, a fireplace, a wet bar, and two private balconies including a covered one off the primary suite give this layout a feel that most condos in this price range simply can't match. The honest story here is the price. Used as a second home and lovingly maintained over the years, the home has seen very little wear and shows it. The primary bath has been remodeled, and the rest of the home is in original condition and priced accordingly, which means the next owner gets to make every finish decision themselves without paying for someone else's taste. The guard-gated Presidio Place community adds real lifestyle value: resort-style pool, spa, tennis courts, and serene water features throughout the grounds. Two parking spaces and in-unit laundry are already included. The location is one of the most central in San Diego. Fashion Valley, USD, the San Diego River Bikeway, and the new Riverwalk development are all minutes away, with easy freeway access to downtown, the beaches, and everywhere else. For an owner-occupant ready to put their own stamp on a well-positioned, well-cared-for unit, this is the kind of opportunity where you bring the vision, do the work on your terms, and walk away with instant equity built in from day one.

Mortgage Calculator

Est. Monthly Payment

$5,159

Principal & Interest$3,611
Property Tax$650
Insurance$190
HOA$708
%($130,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Carson Elementary · grades PK-5 · San Diego Unified

  • Middle

    Montgomery Middle · grades 6-8 · San Diego Unified

  • High

    Kearny Digital Media & Design · grades 9-12 · San Diego Unified

    or Kearny School of Biomedical Science and Technology · grades 9-12 · San Diego Unified

    or Kearny College Connections · grades 9-12 · San Diego Unified

    or Kearny Eng Innov & Design · grades 9-12 · San Diego Unified

    Choice area: the district lets families here pick either school.

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

50B
Est. Monthly Rent
$4,140

12 leases of 2–4 bed condos & townhomes within 1 mi, same school area · $3,357–$3,756

Blended 50/50 with the zip's market median ($4,741)

Monthly Cashflow

Rent − PITIA

-$1,019
Full Cashflow

Incl. vacancy, PM, maint, capex

-$2,513

What would make this work?

$2,513/mo short at 20% down; 76% down or +$3,263/mo rent closes it.

Break-even price

50% under asking

$322,896
Break-even rent

$3,263/mo above the estimate

$7,403/mo
Cashflow at 35% down
−$1,836/mo
Down payment to break even

$494,000 cash

76%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$3,611
Cap Rate
2.41%
Cash-on-Cash
-23.20%
DSCR

Need ≥ 1.25 for DSCR loan

0.80

NOI (Annual)
$15,662
Price-to-Rent

Lower = better for investors

13.1

* 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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BCashflow−$2,513/mo