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Lowest Price Per Unit in Mission Beach! 2931 Mission Blvd 8 Unit Apartment Building $2,900,000 ($362,500/Unit) 3.68% Cap Rate San Diego, CA 92109
INVESTMENT HIGHLIGHTS
- In the Heart of South Mission Beach
- Perfect for Vocational Rental
- Strong Rental Upside
- Steps from the Beach
- Great Condition, Easy to Manage
- Lowest Price Per Unit in Mission Beach
EXECUTIVE SUMMARY
Lowest price per unit in all of Mission Beach!! Located steps from the beach, 2931 Mission Blvd is an exceptional 8-unit property in the heart of Mission Beach. Built in 1952, the two-story building features four 1-bedroom/1-bath units and four studio apartments across 3,108 square feet on a 2,962 square foot lot. Units include upgraded kitchens with granite countertops, heating systems, and double-pane windows. With strong occupancy, R4 zoning, and unbeatable proximity to Belmont Park, Mission Bay, and top universities, this property offers stable income, coastal lifestyle appeal, and future development potential.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$240,960
|
$77.53
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,819
|
$1.55
|
| Effective Gross Income |
$236,141
|
$75.98
|
| Taxes |
$35,670
|
$11.48
|
| Operating Expenses |
$26,120
|
$8.40
|
| Total Expenses |
$61,790
|
$19.88
|
| Net Operating Income |
$174,351
|
$56.10
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $240,960 |
| Annual Per SF | $77.53 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,819 |
| Annual Per SF | $1.55 |
| Effective Gross Income | |
|---|---|
| Annual | $236,141 |
| Annual Per SF | $75.98 |
| Taxes | |
|---|---|
| Annual | $35,670 |
| Annual Per SF | $11.48 |
| Operating Expenses | |
|---|---|
| Annual | $26,120 |
| Annual Per SF | $8.40 |
| Total Expenses | |
|---|---|
| Annual | $61,790 |
| Annual Per SF | $19.88 |
| Net Operating Income | |
|---|---|
| Annual | $174,351 |
| Annual Per SF | $56.10 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Heating
- Granite Countertops
- Double Pane Windows
- Patio
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 4 | $1,554 | - |
| 1+1 | 4 | $2,031 | - |
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PROPERTY TAXES
| Parcel Number | 423-704-12 | Total Assessment | $1,054,586 |
| Land Assessment | $701,711 | Annual Taxes | $35,670 ($11.48/SF) |
| Improvements Assessment | $352,875 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
423-704-12
Land Assessment
$701,711
Improvements Assessment
$352,875
Total Assessment
$1,054,586
Annual Taxes
$35,670 ($11.48/SF)
Tax Year
2025
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Lowest Price Per Unit in Mission Beach! | 2931 Mission Blvd
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