We are pleased to present 934–940 Chalcedony Street, a rare four-unit coastal investment opportunity with RTI plans for 4 additional 2nd level units ideally located just two blocks from the beach in the heart of Pacific Beach. Currently operating as a vacation rental, the property offers investors immediate income alongside… Read More a compelling value-add strategy in one of San Diego’s most desirable and supply-constrained coastal rental markets. Built in 1948, the property consists of four 1-bedroom/1-bath residences, each approximately 525 square feet. Each unit is complemented by its own private one-car garage accessed from the alley, an increasingly scarce amenity within San Diego’s beach communities. The existing interiors provide a clear opportunity for modernization, allowing a new owner to reposition the residences, enhance the guest experience, and potentially capture additional rental income. Further distinguishing the offering is its significant development potential. Existing plans contemplate the addition of four units through the construction of a new second floor, creating an opportunity to potentially double the existing unit count while maximizing the value of an irreplaceable coastal site. Combined with the opportunity to renovate the existing residences, the expansion strategy provides multiple avenues for long-term value creation. Located only two blocks from the Pacific Ocean, residents and guests enjoy convenient access to the beach as well as Pacific Beach’s extensive collection of restaurants, cafés, retail, nightlife, and outdoor recreation. Read Less
Listing Snapshot
Days Online
1
Last Updated
Lot Size
0.14 Acres
Year Built
1948
MLS Number
260026252SD
Additional Details
Appliances & Equipment
GasWaterHeater
Building
Built in 1948, 1 building, 1 storey, Levels: One
Community
Park Name: complex, Gated
Cooling
WallWindowUnits
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $118,944, Net Operating Income: $45,784
Lot
0.1359 acres
Property
Ocean
Roof
Composition
Security Features
GatedCommunity
Taxes
Parcel Number: 4154721500
Tenant Pays
CableTv, Electricity, Gas
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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