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2127 2131 1/2 Felspar

San Diego, CA 92109
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Bed 8

Bed

Bath 5

Bath

SqFt6,244

Sqft(Lot)

Rare North Pacific Beach Fourplex with Immediate Value-Add Opportunity! Address is 2127-2131 1/2 Felspar. Well-maintained and held as a long-term investment, this exceptional income property offers the ideal combination of strong in-place cash flow, low deferred maintenance, and significant upside potential. Featuring two separate duplexes with an attractive unit mix of two 2BR/1BA units, one 3BR/2BA unit, and one 1BR plus office, this property is perfectly positioned for both seasoned investors and 1031 exchange buyers. Zoned Rm-3. Two upcoming vacancies create an outstanding opportunity to renovate (if desired) and quickly capture market rents. One 2BR unit is vacant now, followed by the 3BR/2BA unit at the end of September, allowing a new owner to substantially increase income in the near term. An extensive list of repairs and upgrades is available, reflecting the pride of ownership and ongoing care invested in the property. Located in highly desirable North Pacific Beach, this quiet residential neighborhood consistently attracts quality tenants seeking a coastal lifestyle with everyday convenience. Just minutes from the beach, Mission Bay, shopping, restaurants, parks, and major employment centers, the property also enjoys close proximity to the local elementary school and easy freeway access. Rare North Pacific Beach Fourplex with Immediate Value-Add Opportunity! Address is 2127-2131 1/2 Felspar. Well-maintained and held as a long-term investment, this exceptional income property offers the ideal combination of strong in-place cash flow, low deferred maintenance, and significant upside potential. Featuring two separate duplexes with an attractive unit mix of two 2BR/1BA units, one 3BR/2BA unit, and one 1BR plus office, this property is perfectly positioned for both seasoned investors and 1031 exchange buyers. Zoned Rm-3 Two upcoming vacancies create an outstanding opportunity to renovate (if desired) and quickly capture market rents. One 2BR unit is vacant now, followed by the 3BR/2BA unit at the end of September, allowing a new owner to substantially increase income in the near term. Projected rental figures have been conservatively estimated, providing additional upside. The property has been consistently maintained over the course of ownership. An extensive list of repairs and upgrades is available, reflecting the pride of ownership and ongoing care invested in the property. Located in highly desirable North Pacific Beach, this quiet residential neighborhood consistently attracts quality tenants seeking a coastal lifestyle with everyday convenience. Just minutes from the beach, Mission Bay, shopping, restaurants, parks, and major employment centers, the property also enjoys close proximity to the local elementary school and easy freeway access. Investment opportunities with this combination of location, condition, unit mix, and near-term rental upside rarely become available in North Pacific Beach.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $2,449,000

AD Id : 88406417

MLS Id : 260018256SD

Beds : 8

Lot Size : 6,244 Sqft

Year Built : 1956

County : San Diego

  • Map Map

Map

Feature Features

  • Interior Features

    Roof: Composition
  • Heating & Cooling

    Has Heating: Yes Heating: NaturalGas Cooling: None

  • Building Information

    Year Built: 1956
    Stories: 1
    Private Pool: No

  • Lot Information

    Main Square Feet: 6244 Lot Size Acres: 0.1433 Lot Size Source: Assessor Lot Size Square Feet: 6,244

    Property Information

    Subdivision: Pacific Beach Source Property Type: ResidentialIncome Levels: One Property Age: 70

  • Listing Price Information

    Listing Price: $2449000
    Cash, Conventional

  • Tax Information

    Parcel Number: 4165530700

  • Location Information

    Direction: CrossStreet: Noyes
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722 724 Balboa, San Diego, CA, 92109 $3,025,000 -- -- --

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ByOwner last updated this listing 07/26/2026 @ 16:53

MLS: 260018256SD LISTED BY: Lenna Doyle, Compass 858-277-3325 SOURCE: CRMLS

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