985 Island #7
Btop 30%San Diego, CA 92101
One license per person in San Diego: whether you can hold it depends on you, not only the home.
This parcel holds a short-term rental license: Tier 3 (whole home), through Apr 2027. It doesn’t transfer: a buyer applies for their own.
217 licensed short-term rentals within ½ mile (145 whole home), from the cities' license and permit lists of Nov 9, 2026.
7 short-term rental licenses on file in this 11-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: -$2,462/mo full cashflow at 20% down, 7.43% rate.
Works at $228,421 (58% under asking), or at 85% down.
Rent $2,837/mo from 27 leases of 1-bed condos & townhomes within 0.5 mi, same school area ($2,260–$2,695).
Beds
1
Baths
1
Sqft
633
Year Built
2006
Days on Market
47
Property Type
Condo
HOA/mo
$429.74
MLS ID
260022753SD
This property is in San Diego (92101). View neighborhood stats →
About This Property
Airbnb / STR-friendly in the heart of San Diego’s Ballpark District! This creative, modern residence offers a rare combination of flexibility, location, and low HOA dues of under $450/month—ideal as a full-time home, downtown retreat, or investment property. Filled with natural light, the residence features a spacious private rooftop deck located directly off the bedroom—an inviting outdoor space for morning coffee, entertaining, or enjoying San Diego’s year-round sunshine. Additional conveniences include air conditioning, an in-unit washer and dryer, and a dedicated parking space. The location is hard to beat—just one block from the main entrance to Petco Park and FIT Athletic Club, with the Gaslamp Quarter, restaurants, bars, cafés, nightlife, and everything Downtown San Diego has to offer just outside your door. Set within an intimate 11-unit community designed by renowned San Diego architect Jonathan Segal, this is a truly unique offering in the Ballpark District. Whether you're looking for a primary residence, second home, or STR-friendly investment opportunity, this property offers exceptional versatility in one of Downtown San Diego’s most dynamic neighborhoods. Select images have been virtually staged using AI. Twilight/nighttime images may include digitally rendered lighting for illustrative purposes.
Mortgage Calculator
Est. Monthly Payment
$4,189
Location
Loading map...
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.
Comparable Properties
5 comps foundThis Property
$2,837
Comp Average
$2,720
1970 Columbia
1bd / 1ba · 631 sqft · Condo
$424K
Est. $3,068/mo
908 G St
1bd / 1ba · 660 sqft · Condo
$500K
Est. $2,727/mo
530 K St
1bd / 1ba · 648 sqft · Condo
$450K
Est. $2,543/mo
425 Beech Street
1bd / 1ba · 655 sqft · Condo
$479K
Est. $2,817/mo
350 11th Ave
1bd / 1ba · 656 sqft · Condo
$530K
Est. $2,447/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
27 leases of 1-bed condos & townhomes within 0.5 mi, same school area · $2,260–$2,695
Blended 50/50 with a property-level estimate
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$2,462/mo short at 20% down; 85% down or +$3,197/mo rent closes it.
- Break-even price
- $228,421
- Break-even rent
- $6,034/mo
- Cashflow at 35% down
- −$1,890/mo
- Down payment to break even
- 85%
- Rate to break even
- Not reachable
58% under asking
$3,197/mo above the estimate
$466,650 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.
Open Full Calculator