$3,050,000
SOLD AUG 19, 2025

2073-79 Reed Ave San Diego, CA 92109

Pacific Beach Neighborhood
9 Beds
5 Baths
3,210 Sq Ft
6,254 Sq Ft Lot

Recently Sold

$950 Per Sq Ft

2% Below List Price

10 Days on Market

Highlights

  • Beach Front
  • Bay View
  • Property is Fully Fenced
  • Crown Point Junior Music Academy Rated A-

About This Home

As of August 2025

5% DAY-ONE CAP RATE COASTAL 4-UNIT IN PACIFIC BEACH | $18,895/MONTH INCOME. IN PLACE LEASES 2073-79 Reed Ave is a premier investment opportunity located just steps from Mission Bay on a prime corner lot in one of San Diego’s most sought-after coastal neighborhoods. This high-performing asset generates $18,895/month in current rents, offering investors a true 5% cap rate from day one—a rare find in a beachside location. The property features an ideal unit mix of (1) 3BR/2BA and (3) 2BR/1BA units, each tastefully renovated with modern finishes and strong tenant appeal. Significant capital improvements include a new roof, updated electrical systems, foundation upgrades, and full replacement of all visible cast iron plumbing. Four deep garages present the potential for ADU conversions or increased rental income. Situated in a quiet, upscale pocket of Pacific Beach, just a few blocks from the ocean, this offering is perfect for investors, owner-users, or Airbnb operators seeking long-term growth, income, and unbeatable location.

Last Agent to Sell the Property

Joey Belcastro

LANDMARK MULTIFAMILY AND DEVEL License #02141573 Listed on: 07/07/2025

LANDMARK MULTIFAMILY AND DEVEL

Last Buyer's Agent

Dylan Ackley

LANDMARK MULTIFAMILY AND DEVEL License #02139234

LANDMARK MULTIFAMILY AND DEVEL

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1957

Lot Details

  • 6,254 Sq Ft Lot
  • Beach Front
  • Property Fronts a Bay or Harbor
  • Property is Fully Fenced

Home Design

  • Composition Roof
  • Adobe

Interior Spaces

  • 2-Story Property
  • Bay Views

Utilities

  • Heating System Uses Natural Gas

Listing and Financial Details

  • Tenant pays for trash, electricity, gas/propane
  • Assessor Parcel Number 424-261-12-00

Community Details

Overview

  • 4 Units
  • Mission Bay Community

Building Details

  • Net Operating Income $158,571

Property Details

Home Type

Multi-Family

Year Built

Built in 1957

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Coastal South
  • Cross Street: Noyes St
  • Neighborhood: Pacific Beach
  • Stories: 2 Story
  • Sale Price List Price: 0.98
  • Total Stories: 2
  • Year Built: 1957
  • Allow Comments Review: Yes
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Adobe
  • Fencing: Full
  • Frontage: Bay, Ocean/Bluff, Ocean/Sand
  • Roof: Composition
  • View: Bay

Condo/Co-op/Association

  • Complex Name: Mission Bay
  • Community: PACIFIC BEACH

Lot Info

  • Lot Size: 4,000-7,499 SF
  • Assessor Parcel Number: 424-261-12-00
  • Estimated Lot Sq Ft: 6254

Rental Info

  • Tenant Pays: Trash, Electricity, Gas/Propane

Multi Family

  • No. of Units: 4
  • Actual Net Operating Income: 158571
  • Annual Expense Actual: 68169
  • Gross Rent Multiplier Actual: 13.7
  • Gross Sched Income Actual: 226740
  • Number Of Buildings: 1
  • Number Of Furnished Units: 2
  • Number Of Units With Dishwashers: 4
  • Number Of Units With Dryers: 4
  • Number Of Units With Garage: 4
  • Number Of Units With Patios: 4
  • Number Of Units With Range Oven: 4
  • Number Of Units With Refrigerator: 4
  • Number Of Units With Washers: 4

Range of Values:

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Sold Price
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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
08/19/2025 08/19/25 Sold $3,050,000 -1.6% $950 / Sq Ft
07/18/2025 07/18/25 Pending -- -- --
07/07/2025 07/07/25 For Sale $3,099,000 +37.7% $965 / Sq Ft
10/28/2024 10/28/24 Sold $2,250,000 -9.8% $700 / Sq Ft
09/27/2024 09/27/24 Pending -- -- --
09/20/2024 09/20/24 For Sale $2,495,000 -- $776 / Sq Ft
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Joey Belcastro

    Seller's Agent in 2025

    Joey Belcastro

    LANDMARK MULTIFAMILY AND DEVEL

    (513) 600-7498

    2 in this area

    4 Total Sales

    Joey Belcastro
    Section Image
  • Dylan Ackley

    Buyer's Agent in 2025

    Dylan Ackley

    LANDMARK MULTIFAMILY AND DEVEL

    (425) 802-5404

    2 in this area

    20 Total Sales

    Dylan Ackley
    Section Image
  • Trevor Smith

    Seller's Agent in 2024

    Trevor Smith

    Lily Field Realty

    (858) 539-9999

    1 in this area

    19 Total Sales

    Trevor Smith
    Section Image

  • N

    Buyer's Agent in 2024

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    1 in this area

    5,885 Total Sales

    NoEmail NoEmail
    Section Image
See All Agents

Map

Source: San Diego MLS

MLS Number: 250032628

San Diego MLS
California San Diego County San Diego 92109 Pacific Beach

2073-79 Reed Ave, San Diego, CA

This home is located at 2073-79 Reed Ave, San Diego, CA 92109 and is currently priced at $3,050,000, approximately $950 per square foot. This property was built in 1957. 2073-79 Reed Ave is a home located in San Diego County with nearby schools including Crown Point Junior Music Academy, Pacific Beach Middle, and Mission Bay High School.

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