$2,300,000

Estimated payment $14,832/month

Total Views 962
7 Beds
7 Baths
3,700 Sq Ft
$622 Price per Sq Ft

Highlights

  • Very Popular Property
  • Pacific Beach Elementary School Rated A-
  • Wood Siding

About This Home

"RARE Pacific Beach 4-Unit Investment Opportunity Just 4.5 Blocks to the Ocean" WHAT WE LOVE: Unique opportunity to own a fully rented 4-unit property in the heart of Pacific Beach. Situated on historic Grand Avenue just 4.5 blocks from the beach, this property features a unique and desirable layout with a detached single-family home in the front and a three-unit structure in the rear, accessible via the alley. Two-single car garages from the alley and additional off-street parking add valuable functionality and tenant appeal. Private yard or patio space for each unit: Unit A) Detached house: front yard + back patio. Unit B) Two-story: private patio w/ enclosed wood fence. Unit C) Ground level: back patio w/ enclosed wood fence. Unit D) Upstairs: patio/balcony. Rear units just had the entire roof redone - new wood, TPO on flat portion, drains, gutters, fascia - with a transferrable warranty, upgraded electrical panel, fresh wood siding in sections and property has just received Sec. 1 termite clearance. Each unit is currently occupied, providing immediate income in one of San Diego’s most established coastal rental markets. The front home offers its own driveway and entry, elevated up off the street with a privacy hedge, front yard/patio and mature tree canopy providing a little extra. While the rear units enjoy private access and dedicated parking. Zoned for long-term rental investment with stable occupancy and strong area demand. Close to shopping, dining, and beach access, this is a solid portfolio addition in a high-demand neighborhood with proven rentability. WHAT WE LOVE (Cont..): Located just 4.5 blocks from the Pacific Ocean, this centrally positioned 4-unit property sits in one of the most walkable and vibrant sections of Pacific Beach. Tenants enjoy easy access to everything PB has to offer: miles of sandy beaches, the scenic boardwalk, and nearby Mission Bay, Sail Bay, and Crown Point for kayaking, paddleboarding, and cycling. Historic Grand Avenue also offers tenants walkable public transportation options and is home to local events like the PB Holiday Parade and seasonal farmers markets. Within a short stroll are dozens of popular restaurants, cafes, breweries, fitness studios, and boutique shops — making this area a year-round hotspot for renters. Highly accessible to nearby universities including UCSD, USD, PLNU, and SDSU, this location draws student, faculty, and professional tenants alike. Zoned for Pacific Beach Middle School (recently remodeled and now an International Baccalaureate (IB) school) and Mission Bay High School (also IB designated), the area continues to gain appeal among tenants seeking strong academic options. Just minutes to downtown San Diego, the airport, and major freeways, this property offers both a premium beachside lifestyle and commuter convenience — a rare combination that supports long-term rental stability.

Listing Agent

Jesse Ibanez

The Greenhouse Group Inc License #01405643 Listed on: 08/12/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1952

Home Design

  • Composition Roof
  • Wood Siding
  • Stucco Exterior

Additional Features

  • 2-Story Property
  • 6,218 Sq Ft Lot

Listing and Financial Details

  • Assessor Parcel Number 423-161-16-00

Community Details

Overview

  • 4 Units
  • 1228 Grand Ave Community

Building Details

  • Net Operating Income $63,702

Property Details

Home Type

Multi-Family

Year Built

Built in 1952

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Coastal South
  • Cross Street: Everts St & Fanuel St
  • Neighborhood: Pacific Beach
  • Supplement: WHAT WE LOVE (Cont..): Located just 4.5 blocks from the Pacific Ocean, this centrally positioned 4-unit property sits in one of the most walkable and vibrant sections of Pacific Beach. Tenants enjoy easy access to everything PB has to offer: miles of sandy beaches, the scenic boardwalk, and nearby Mission Bay, Sail Bay, and Crown Point for kayaking, paddleboarding, and cycling. Historic Grand Avenue also offers tenants walkable public transportation options and is home to local events like the PB Holiday Parade and seasonal farmers markets. Within a short stroll are dozens of popular restaurants, cafés, breweries, fitness studios, and boutique shops — making this area a year-round hotspot for renters. Highly accessible to nearby universities including UCSD, USD, PLNU, and SDSU, this location draws student, faculty, and professional tenants alike. Zoned for Pacific Beach Middle School (recently remodeled and now an International Baccalaureate (IB) school) and Mission Bay High School (also IB designated), the area continues to gain appeal among tenants seeking strong academic options. Just minutes to downtown San Diego, the airport, and major freeways, this property offers both a premium beachside lifestyle and commuter convenience — a rare combination that supports long-term rental stability.
  • Stories: 2 Story
  • Total Stories: 2
  • Year Built: 1952
  • Allow Comments Review: Yes
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Prkng Non Garage Spac U1: 3
  • Prkng Non Garage Spac U2: 1
  • Prkng Non Garage Spac U4: 1
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Stucco, Wood
  • Roof: Composition

Condo/Co-op/Association

  • Complex Name: 1228 Grand Ave
  • Community: PACIFIC BEACH
  • Manager Name: Good Life Property Mgmt.
  • Manager Phone: 858-207-4595

Lot Info

  • Lot Size: 4,000-7,499 SF
  • Zoning: R-3:RESTRI
  • Assessor Parcel Number: 423-161-16-00
  • Estimated Lot Sq Ft: 6218
  • Estimated Number of Acres: 0.14
  • Map Code Column: J
  • Map Code Page: 1247
  • Map Code Row: 6

Rental Info

  • Tenant Pays: Electricity, Gas/Propane

Multi Family

  • No. of Units: 4
  • Actual Net Operating Income: 63702
  • Annual Expense Actual: 74233
  • Gross Rent Multiplier Actual: 16.67
  • Gross Sched Income Actual: 137936
  • Number Of Buildings: 1
  • Number Of Units With Dishwashers: 2
  • Number Of Units With Dryers: 1
  • Number Of Units With Fireplaces: 3
  • Number Of Units With Garage: 2
  • Number Of Units With Patios: 3
  • Number Of Units With Range Oven: 4
  • Number Of Units With Refrigerator: 4
  • Number Of Units With Washers: 1
  • Other Income Actual: 90

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/12/2025 08/12/25 For Sale $2,300,000 -- $622 / Sq Ft
Source: San Diego MLS

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Source: San Diego MLS

MLS Number: 250035996

San Diego MLS

APN: 423-161-16-00