1 / 20

837 Island Ct #3

Dbottom 20%

San Diego, CA 92109

$1,250,000

NEW — 0d

STR closed · Mission Beach cap full

This parcel holds a short-term rental license: Tier 1 (20 days a year or less), through Jul 2028. It doesn’t transfer: a buyer applies for their own.

496 licensed short-term rentals within ½ mile (417 whole home), from the cities' license and permit lists of Nov 10, 2026.

Pass at asking: -$7,240/mo full cashflow at 20% down, 7.43% rate.

Works at $307,297 (75% under asking); even all cash loses money at asking.

Rent $3,502/mo from 24 leases of 2-bed condos & townhomes within 2 mi ($3,020–$4,594).

Beds

Baths

Sqft

855

Year Built

1972

Days on Market

Property Type

Condo

HOA/mo

$336

MLS ID

260026676SD

This property is in San Diego (92109). View neighborhood stats →

About This Property

In the heart of Mission Beach, this 2 bed 2 bath condo sits just half a block from Mission Bay and one block from Belmont Park. A short walk to restaurants, entertainment, surf breaks and sunset views. Recent interior updates include a refrigerator and dishwasher installed in 2026, updated plumbing fixtures and connections, and recently installed ceiling fans. The condo also features a new front door, and the building’s water heater was replaced approximately one year ago. Both bedrooms are located on the top floor. Covered off street carport parking also makes it highly desirable. Fishing, sailing, boating and bike rentals and public transit are within walking distance. Additional public parking is available on the other side of the Bahia, with overnight parking subject to posted rules. An option for owner-occupants and investors alike, the condo can be sold furnished or unfurnished.

Mortgage Calculator

Est. Monthly Payment

$8,895

Principal & Interest$6,944

Property Tax$1,250

Insurance$365

HOA$336

Down Payment

%($250,000)

Interest Rate

Loan Term

Location

Loading map...

Zoned Schools

Elementary
Pacific Beach Elementary · grades PK-5 · San Diego Unified
Middle
Pacific Beach Middle · grades 6-8 · San Diego Unified
High
Mission Bay 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 found

This Property

$3,502

Comp Average

$3,880

3833 Lamont St

2bd / 2ba · 944 sqft · Condo

$795K

Est. $3,818/mo

1235 Parker Pl

2bd / 2ba · 875 sqft · Condo

$1.05M

Est. $3,900/mo

711 Island Ct

2bd / 2ba · 884 sqft · Condo

$1.27M

Est. $3,627/mo

4013 Crown Point

2bd / 2ba · 913 sqft · Condo

$1.10M

Est. $3,989/mo

3243 Ocean Front Walk

2bd / 2ba · 972 sqft · Condo

$1.30M

Est. $4,066/mo

Comps based on same zip code, similar beds (±1), price range (60-150%).

Short-term not available here. Mission Beach (Tier 4) is capped and full, with a waitlist. See the rules

Investment Score

Est. Monthly Rent

$3,502

24 leases of 2-bed condos & townhomes within 2 mi · $3,020–$4,594

Monthly Cashflow

Rent − PITIA

-$5,393

Full Cashflow

Incl. vacancy, PM, maint, capex

-$7,240

What would make this work?

$7,240/mo short at 20% down; +$9,403/mo rent closes it.

Break-even price: $307,297
Break-even rent: $12,905/mo
Cashflow at 35% down: −$5,938/mo
Down payment to break even: Not reachable
Rate to break even: Not reachable

Mortgage (P+I)

$6,944

Cap Rate

-0.12%

Cash-on-Cash

-34.75%

DSCR

Need ≥ 1.25 for DSCR loan

0.39

NOI (Annual)

-$1,452

Price-to-Rent

Lower = better for investors

29.7

* 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.

Open Full Calculator

DCashflow−$7,240/mo