207 5th Ave · San Diego, CA 92101

$215,000

None bd · None ba · 3,098 sqft · MultiFamily public records · 77 Days on market

Built 2008 1.21 ac lot $897/mo HOA · 12% of rent

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

Rarely available 4th floor unit which gives you direct access to all the action at the pool, spa, cabanas, and San Diego's best rooftop bar. This is a true hands off investment opportunity with a great cap rate for Southern California. Plus you can get treated like Rock Royalty as an owner by staying yourself or let family and friends enjoy up to 28 days per year at the Hard Rock Hotel in the Gaslamp. Make some great income paid out each month without the hassle of being a landlord. Perfect for 1031 Exchange funds or 1st time real estate investors! Gaslamp, Petco Park, Comic-con, Seaport Village, world-famous Nobu Restaurant, Rady Shell, and more are all at your doorstep. Perks include 24 h

Key facts

• 1.21 acre lot
• Garage
• Community pool

Property features AI

Finance

• Other: Total building area reported as 431; Total # of units: 1; Total # of buildings: 1; 2+ common walls; 1 separate water meter, 1 separate gas meter, 1 separate electric meter; Zoned COMMERCIAL; Directions: 5th Ave a block north of E. Harbor Drive between K and L Streets.
• Financial info: Gross scheduled income $62,734; Gross income $62,734; Net operating income $13,069; Operating expense $49,665
• HOA & community: Part of association (Parcel 2); Association fee $897 monthly; Association amenities: spa, pool, gym/exercise room, onsite property management, meeting room, maintenance of grounds, water, hot water, trash, insurance, utilities

Exterior

• Parking: Subterranean parking; Controlled entrance; Valet parking
• Utilities: Public sewer; Separate water, gas and electric meters (one each)
• Home design: Hotel/Motel property; Attached property; One level (unit); 12 total stories; Turnkey condition
• Construction: Concrete construction; Year built per assessor
• Exterior features: In-ground community pool; Near public transit; Paved city street access; Curbs, street lighting and sidewalks; Urban setting; Has view

Interior

• Kitchen: Refrigerator
• Bedrooms: Entry level: 4
• Flooring: Carpet
• Interior features: Furnished; Elevator; Has spa; Front entry
• Laundry & utility: Community laundry

What this means for you Summary

Snapshot

• This is a multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $4k ($42k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $215k).
• Recommended offer: $202k (6.0% below list) — sets the bar for market timing.
• Cap rate 26.1% vs local median 2.0% in San Diego — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#123 in CA, #4,206 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety C-, crime D+, cost of living F.
• San Diego Unified (urban): math 19% / reading 29% proficiency, ranked #393 of 517 in CA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 515 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• At $7,498/mo this rent would consume 98% of the median local household income ($92k/yr) (locally 5603% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• San Diego County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-1.8% appreciation + 0.3% rent growth), your $60k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $202,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.49% ✓
• Cap rate: 26.05%
• Cash-on-cash: 70.57%
• DSCR: 4.14
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $1,496,334
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
549 17th St	0.72mi	7/4.0	3,000 (-3%)	18mo	$1,450,000	$483	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-1.82% appreciation · 0.35% rent growth · sell at horizon

5-year hold

• IRR: 67.7%
• Equity multiple: 4.03×
• Total profit: $182,701
• Equity at exit: $43,610

10-year hold

• IRR: 70.1%
• Equity multiple: 7.41×
• Total profit: $386,136
• Equity at exit: $39,051

Cash invested: $60,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 92101

• Home prices YoY: -0.8%
• Rents YoY: 0.3%
• Active inventory: 515
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $7,498 high
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$897
• Vacancy / Maint / Mgmt: −$1,575
• Net cashflow: $3,540

Break-even live

Break-even rent $3,016

Max offer price $215,000

Occupancy floor 48%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Harbor Dr #1502 San Diego, CA	2.0	3.0	2510	$9,875	$3.93	16d	1	0.14mi
645 Front St #101 San Diego, CA	3.0	3.0	2500	$7,495	$3.00	24d	1	0.38mi
601 11th Ave San Diego, CA	3.0	1.0–3.5	1867	$11,469	$6.14	1d	38	0.45mi
1011 Union St San Diego, CA	3.0	1.0–2.5	1496	$10,707	$7.15	1d	27	0.65mi
1200 Front St San Diego, CA	3.0	1.0–3.0	1401	$10,227	$7.30	1d	309	0.74mi
1099 1st St Coronado, CA	2.0–4.0	2.5–4.0	3092	$6,700	$2.17	43d	4	0.93mi
1220 1st St #303 Coronado, CA	3.0	3.0	2520	$12,500	$4.96	24d	1	0.95mi
120 C Ave Coronado, CA	2.0–3.0	2.0	2483	$8,500	$3.42	43d	1	0.98mi
120 C Ave Coronado, CA	2.0–3.0	2.0	2246	$8,000	$3.56	14d	2	0.98mi
750 W Fir St San Diego, CA	4.0	1.0–4.0	4775	$9,245	$1.94	1d	4	1.25mi

HOA detail

• Monthly dues: $897 · $10,764/yr
• Likely covers: gaspool

Listing history 29 events

1. 2026-06-18
   days on market $215,000 Active 77 DOM
2. 2026-06-17
   days on market $215,000 Active 76 DOM
3. 2026-06-16
   days on market $215,000 Active 75 DOM
4. 2026-06-15
   days on market $215,000 Active 74 DOM
5. 2026-06-13
   days on market $215,000 Active 72 DOM
6. 2026-06-09
   days on market $215,000 Active 68 DOM
7. 2026-06-08
   days on market $215,000 Active 67 DOM
8. 2026-06-07
   days on market $215,000 Active 66 DOM
9. 2026-06-04
   days on market $215,000 Active 63 DOM
10. 2026-06-03
    days on market $215,000 Active 62 DOM
11. 2026-06-02
    days on market $215,000 Active 61 DOM
12. 2026-06-01
    days on market $215,000 Active 60 DOM
13. 2026-05-31
    days on market $215,000 Active 59 DOM
14. 2026-04-30
    price $215,000
15. 2026-04-02
    listed $230,000 Active
16. 2022-02-03
    price $950
17. 2011-02-02
    price $220,000
18. 2009-03-23
    historical
19. 2008-10-31
    listed $560,000
20. 2008-07-30
    historical
21. 2008-07-30
    historical
22. 2008-01-30
    listed $640,000
23. 2008-01-30
    listed $480,000
24. 2007-10-14
    historical
25. 2007-10-14
    historical
26. 2007-10-12
    listed $2,695,000
27. 2007-10-12
    listed $2,695,000
28. 2007-09-13
    historical
29. 2007-09-05
    listed $540,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $89,974
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$7,198
• − Management: −$7,198
• − HOA: −$10,764
• − Depreciation: −$6,255
• Taxable income: $42,216
• Est. tax owed @ 24.0%: −$10,132
• After-tax cash flow: $32,354/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: San Diego Unified
• NCES district ID: 0634320
• Math proficiency: 19% ▼ -29.00%
• Reading proficiency: 29% ▼ -28.00%
• Median HH income: $61,673
• Composite: 22.31/100
• National rank: #8135
• State rank: #393 of 517 in CA

Livability — San Diego

• Score: 75/100
• State rank: #123
• US rank: #4206

Category grades

Amenities A+ Commute A+ Cost of living F Crime D+ Employment A+ Housing C+ Health & safety C- User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Diego, CA
• County: San Diego County · 3,178,799 people
• City population: 1,397,612
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 51,805
• Household income: $91,566
• Rent vs Own: 77.4% rent · 22.6% own
• Severe rent burden: 5603.0

Population outlook (San Diego County) Hauer SSP2

• Today (2025): 3,678,185 people
• By 2030: 3,856,546 · +4.8%
• By 2040: 4,171,407 · +13.4%
• By 2050: 4,421,607 · +20.2%
• By 2075: 4,831,599 · +31.4%
• By 2100: 4,832,502 · +31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 54% Hispanic / Latino 24% Two or more races 12% Asian 10% Black 8%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 2%
• Foreign-born: 19% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 15% Other Indo-European 3% Other Asian/Pacific 1%

Political lean MEDSL · San Diego

• 2024 margin: D (+16.8) · D 56.9% · R 40.1% · Other 2.9%
• 2008→2024 swing: +6.6pp toward D · 2008: 10.2pp · 2024: 16.8pp
• All cycles: 2024: D+16.8 2020: D+22.8 2016: D+17.8 2012: D+5.1 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.82%
• Current HPI: 224.0762
• Rent YoY: ▲ 0.35%
• Metro: San Diego-Chula Vista-Carlsbad, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

-60.2% since first listed

16 events — show timeline

• 2026-04-30 Price Changed $215,000 CRMLS
• 2026-04-02 Listed $230,000 CRMLS
• 2022-02-03 Price Changed $950 RENT.
• 2011-02-02 Price Changed $220,000 SDMLS
• 2009-03-23 Listing Removed — SDMLS
• 2008-10-31 Listed $560,000 SDMLS
• 2008-07-30 Listing Removed — SDMLS
• 2008-07-30 Listing Removed — SDMLS
• 2008-01-30 Listed $480,000 SDMLS
• 2008-01-30 Listed $640,000 SDMLS
• 2007-10-14 Listing Removed — CRMLS
• 2007-10-14 Listing Removed — SDMLS
• 2007-10-12 Listed $2,695,000 CRMLS
• 2007-10-12 Listed $2,695,000 SDMLS
• 2007-09-13 Listing Removed — SDMLS
• 2007-09-05 Listed $540,000 SDMLS

Property tax history

+23.9%/yr

Latest (2025): $163,844 · +4.2% YoY. Source: county tax records.