702 Ash Street #207
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702 Ash Street #207

Ctop 80%

San Diego, CA 92101

$474,900
NEW — 0d
STR: check · HOA rules unknown · TOT 13.75%

174 licensed short-term rentals within ½ mile (141 whole home), from the cities' license and permit lists of Nov 11, 2026.

HOA rules unknown: an HOA can ban stays under 30 days (Civ. Code §4741), and no permit on file shows this one allows them. Get the CC&Rs.

Pass at asking: -$2,446/mo full cashflow at 20% down, 7.43% rate.

Works at $156,382 (67% under asking), or at 95% down.

Rent $3,235/mo from 2 leases in this building (±1 bed) ($3,064–$3,407).

Beds

1

Baths

1

Sqft

782

Year Built

1929

Days on Market

0

Property Type

Condo

HOA/mo

$1,289.48

MLS ID

260026761SD

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

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About This Property

Historic charm, modern sophistication, and the potential for substantial property tax savings; an exceptional combination that makes this El Cortez residence truly stand out! Discover a stylishly updated corner end unit in one of Downtown San Diego’s most iconic historic landmarks. Impeccably maintained and filled with natural light from multiple large windows, this residence offers a remarkable financial advantage: Mills Act designation could reduce property taxes by approx. 50% delivering meaningful savings year after year. The hard work has already been done! Upgraded improvements include a beautifully remodeled bathroom with a walk-in shower, new vanity, and custom cabinetry, along with sleek engineered wood flooring, fresh paint, and new fixtures and lighting throughout. The bright kitchen features refinished cabinetry and a new refrigerator, while the living room showcases attractive built-in shelving. Smart storage solutions further distinguish this home, including a versatile entry workstation/wardrobe closet with shelving and electrical outlets, an expanded primary bedroom walk-in closet. Situated on desirable Cortez Hill, enjoy a distinctive Downtown lifestyle with Balboa Park, Little Italy, acclaimed dining, and city attractions just moments away. Historic prestige, contemporary comfort, and potential long-term tax savings, an “all in one” exceptional opportunity. Simply move in and enjoy! (Buyer to verify Mills Act savings). Live in a San Diego icon. Historic El Cortez pairs old-world elegance with full-service convenience: a grand lobby, on-site management, a pool, barbecue area, fitness center, a second-story deck with spectacular views, and valet parking. Step outside and you’re an easy walk from Petco Park and the Gaslamp Quarter’s restaurants and nightlife. The building is historically designated, so owners may apply for the Mills Act and its property tax savings.

Mortgage Calculator

Est. Monthly Payment

$4,541

Principal & Interest$2,638
Property Tax$475
Insurance$139
HOA$1,289
%($94,980)
%
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

34C
Est. Monthly Rent
$3,235

2 leases in this building (±1 bed) · $3,064–$3,407

Thin data: only 2 leases behind this number.

Monthly Cashflow

Rent − PITIA

-$1,307
Full Cashflow

Incl. vacancy, PM, maint, capex

-$2,446

What would make this work?

$2,446/mo short at 20% down; 95% down or +$3,177/mo rent closes it.

Break-even price

67% under asking

$156,382
Break-even rent

$3,177/mo above the estimate

$6,412/mo
Cashflow at 35% down
−$1,952/mo
Down payment to break even

$451,155 cash

95%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$2,638
Cap Rate
0.89%
Cash-on-Cash
-30.91%
DSCR

Need ≥ 1.25 for DSCR loan

0.71

NOI (Annual)
$4,243
Price-to-Rent

Lower = better for investors

12.2

* 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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CCashflow−$2,446/mo