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STR1042

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372 4th Avenue, San Diego, California 92101

2900

Bedrooms

Utilities Included

Bathrooms

Furnished

Available to Lease on

ASAP

Property Type

Apartment

SQFT

706

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Key metrics

Rent

2,900

Monthly Estimated Profit^?

1,616

Annual Estimated Profit^?

19,400

Acquisition Fee

2,500

Security Deposit

500

Average Daily Rate

257

Occupancy

59%

Annual Revenue

55,700

Key Features

This highly scalable 706 sq ft apartment is located at 372 4th Avenue in San Diego, California. Offering 1 bedroom and 1 bathroom, this property provides immense flexibility with no limit on the number of units you can acquire for your portfolio.

The unit is designed for efficient operations, coming unfurnished but fully equipped with a stove, refrigerator, microwave, washer, and dryer. It is extremely corporate lease friendly, explicitly allowing subleasing for the entire lease duration with absolutely no additional corporate lease fees.

Currently, there are five 1-bedroom units available for immediate move-in (priced between $2,900 and $3,033), four studios expected to be ready by the end of next week (approx. $2,350), and one 2-bed/2-bath top-floor unit available next week ($4,554).

Property Features

1 Bedroom / 1 Bathroom: 706 sq ft layout with immediate availability.
Massive Scalability: No limit on the number of units you can lease.
In-Unit Appliances: Comes equipped with a stove, refrigerator, microwave, washer, and dryer.
Low Entry Cost: Standard security deposit starts at just $500 per unit.
Convenient Parking: Dedicated parking is available for an additional $125 per month.

STR Regulations Summary:

Status:

Mixed

View Regulations Here

San Diego has implemented strict regulations for non-owner occupied short-term rentals (STRs) as of May 1, 2023. Here are the key points:

License requirement: All STRs must obtain a Short-Term Residential Occupancy (STRO) license4 7.
Tiered system: Non-owner occupied STRs fall under Tier 3 for whole-home rentals outside Mission Beach, and Tier 4 for Mission Beach1 3.
Caps on licenses:
- Tier 3 permits are limited to 1% of the city's total housing units, excluding Mission Beach1.
- Tier 4 permits (Mission Beach) are capped at 30% of available units in that area1.
Minimum stay: Guests are required to stay a minimum of two nights for both Tier 3 and Tier 4 rentals1.
License allocation: If applications exceed the cap, a lottery system is used, prioritizing hosts who have complied with city laws1 4.
Good Neighbor Policy: All STR operators must adhere to guidelines on noise, trash, and occupancy limits3.
Restrictions: Recreational vehicles, campers, or temporary structures cannot be used for STRs7.
Penalties: Operating an STR without a license after May 1, 2023, is a violation and may result in penalties and jeopardize future license eligibility7.

While these regulations are strict, it is still feasible to operate a non-owner occupied STR in San Diego, provided you obtain the proper license and comply with all requirements

STR Regulations Summary:

View Regulations Here

Property Location