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2109 Felspar St - 11-unit Development Opportunity in PB 2 Unit Apartment Building Offered at $2,986,746 CAD San Diego, CA 92109
Investment Highlights
- 2 detached homes on 1 lot in Pacific Beach
- Close to Mission Bay and everything Pacific Beach has to offer
- Plans in place for construction of a new 11-unit development
Executive Summary
**Existing Two detached houses in Prime Pacific Beach** Plans in place for construction of a new 11-Unit development • Located just blocks from Mission Bay and all that Pacific Beach has to offer • Existing unit mix consists of one detached (1) 3-bedroom/1-bath house, and one detached (1) 2-bedroom/1-bath house • Current improvements provide in-place rental income while pursuing development • Opportunity to significantly increase density in a high-demand coastal submarket • Located in one of San Diego's most supply-constrained rental markets
Financial Summary (Actual - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$130,563
|
$69.52
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,917
|
$2.09
|
| Effective Gross Income |
$126,647
|
$67.44
|
| Taxes |
$37,368
|
$19.90
|
| Operating Expenses |
$12,658
|
$6.74
|
| Total Expenses |
$50,027
|
$26.64
|
| Net Operating Income |
$76,620
|
$40.80
|
Financial Summary (Actual - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $130,563 |
| Annual Per SF | $69.52 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $3,917 |
| Annual Per SF | $2.09 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $126,647 |
| Annual Per SF | $67.44 |
| Taxes (CAD) | |
|---|---|
| Annual | $37,368 |
| Annual Per SF | $19.90 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $12,658 |
| Annual Per SF | $6.74 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $50,027 |
| Annual Per SF | $26.64 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $76,620 |
| Annual Per SF | $40.80 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $4,907 CAD | 750 |
| 3+1 | 1 | $5,973 CAD | 950 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
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2109 Felspar St - 11-unit Development Opportunity in PB
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