
702 Ash Street #207
Ctop 80%San Diego, CA 92101
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 →
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
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.
Comparable Properties
5 comps foundThis Property
$3,235
Comp Average
$2,808
1501 Front
1bd / 1ba · 781 sqft · Condo
$420K
Est. $2,846/mo
450 J
1bd / 1ba · 777 sqft · Condo
$445K
Est. $3,077/mo
425 Beech St
1bd / 1ba · 769 sqft · Condo
$449K
Est. $3,052/mo
1501 Front Street
1bd / 1ba · 781 sqft · Condo
$519K
Est. $2,702/mo
450 J
1bd / 1ba · 777 sqft · Condo
$420K
Est. $2,365/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
2 leases in this building (±1 bed) · $3,064–$3,407
Thin data: only 2 leases behind this number.
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$2,446/mo short at 20% down; 95% down or +$3,177/mo rent closes it.
- Break-even price
- $156,382
- Break-even rent
- $6,412/mo
- Cashflow at 35% down
- −$1,952/mo
- Down payment to break even
- 95%
- Rate to break even
- Not reachable
67% under asking
$3,177/mo above the estimate
$451,155 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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