877 Island Avenue #512
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877 Island Avenue #512

Ctop 80%

San Diego, CA 92101

$1,298,000
STR: check · no permits in this complex · TOT 13.75%

211 licensed short-term rentals within ½ mile (139 whole home), from the cities' license and permit lists of Nov 11, 2026.

No unit in this 73-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: -$6,680/mo full cashflow at 20% down, 7.43% rate.

Works at $428,236 (67% under asking), or at 95% down.

Rent $5,569/mo from 19 leases of 2-bed condos & townhomes within 0.5 mi, same school area ($4,557–$5,839).

Beds

2

Baths

2

Sqft

1,904

Year Built

2002

Days on Market

106

Property Type

Condo

HOA/mo

$999

MLS ID

PTP2605654

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

Virtual Tour

About This Property

Come home to one of Parkloft’s most DISTINCTIVE URBAN RESIDENCES. This 1904SF southwest-facing CORNER LOFT pairs authentic industrial character—soaring 10ft ceilings, exposed ductwork and concrete ceilings—with warm wood flooring and an open airy, highly versatile interior. French doors extend onto an approx 40-by-8-foot private patio, nearly 320 SF of additional indoor-outdoor living space—an exceptionally rare feature within Parkloft. A second balcony off the sleeping area offers city views and a peek into Petco Park, creating your own private perch above the energy of East Village. Currently configured as one large primary BR, this loft can easily be made a 2BR or even 3BR home. Both bathrooms are upgraded including glass shower doors, a soaking tub, marble/granite counters and a rain shower. Furnishing available for purchase, including the baby grand Steinway piano, billiards table and sculptural EcoSmart Fire fireplace—making this a rare opportunity to step directly into a sophisticated, fully realized downtown lifestyle. Parkloft offers 24/7 concierge and door service, a dramatic Zen-inspired lobby, fitness center and landscaped interior courtyard with fire features, BBQs and clubhouse—all moments from Petco Park, the Gaslamp Quarter, Marina District, waterfront, dining and entertainment. Two parking spaces and private storage complete this exceptional urban residence. This 11-story, 120-residence boutique building was developed by Douglas Wilson Co and constructed of poured-in-place concrete and brick. Easy freeway access, Marina District proximity, waterfront, dining, entertainment and the Embarcadero.

Mortgage Calculator

Est. Monthly Payment

$9,887

Principal & Interest$7,211
Property Tax$1,298
Insurance$379
HOA$999
%($259,600)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Sherman Elementary · grades PK-5 · San Diego Unified

  • Middle

    Logan Memorial Educational Campus · grades PK-12 · San Diego Unified

  • High

    Logan Memorial Educational Campus · grades PK-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

7C
Est. Monthly Rent
$5,569

19 leases of 2-bed condos & townhomes within 0.5 mi, same school area · $4,557–$5,839

Blended 50/50 with a property-level estimate

A property-level estimate runs more than 25% above what comparable homes leased for ($4,867). Treat this rent with extra care.

Monthly Cashflow

Rent − PITIA

-$4,318
Full Cashflow

Incl. vacancy, PM, maint, capex

-$6,680

What would make this work?

$6,680/mo short at 20% down; 95% down or +$8,676/mo rent closes it.

Break-even price

67% under asking

$428,236
Break-even rent

$8,676/mo above the estimate

$14,245/mo
Cashflow at 35% down
−$5,328/mo
Down payment to break even

$1,233,100 cash

95%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$7,211
Cap Rate
0.75%
Cash-on-Cash
-30.88%
DSCR

Need ≥ 1.25 for DSCR loan

0.56

NOI (Annual)
$9,707
Price-to-Rent

Lower = better for investors

19.4

* 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−$6,680/mo