$550,000

2629 Island Ave, San Diego, CA 92102

1 bed |
2 baths |
736 sqft

Single-Family Home
Built in 1920
—— sqft lot
1 car garage
$747/sqft
Listed 3 months ago

Property Description

Baby Got Back on the market! Subject to cancellation of current escrow. The previous buyer's agent has notified us: "My client has decided to back out of the deal. Tried to make it work, but considering the amount of work and unknown costs, he decided to pull the plug. Historic Gem with Mills Act Potential Rare opportunity to acquire a designated historic property at 2629 Island Ave in the heart of San Diego's vibrant Little Italy/Bankers Hill corridor. This home offers significant upside for the right investor or owner-user. Key Highlights: Mills Act Eligible: Potential property tax savings of 40-60% annually through San Diego's historic preservation program Proven Income History: Former short-term rental generating $6,000/month gross income Prime 92101 Location: Walking distance to downtown, waterfront, restaurants, and entertainment Current Status: Property has outstanding code violations from recent remodeling work that must be resolved by buyer. Sold strictly AS-IS. Cash or hard money financing required - no conventional or FHA/VA loans. Ideal For: Experienced investors comfortable with code compliance issues Buyers seeking Mills Act tax advantages Those looking to restore a historic property to rental or primary residence This is a unique chance to own a piece of San Diego history while capturing substantial tax benefits. Property priced to reflect current condition and violation resolution costs. Serious inquiries only from qualified cash buyers.

Listing Status:: Active
Date Added:: February 5, 2026
Data Last Updated:: May 25, 2026 at 2:18AM
Listing Office:: Joshua Daniel Massieh : 619-673-9392
Listing Agent:: Joshua Massieh : 619-673-9392
MLS ID:: PTP2600934

General: All Bedrooms Up
Appliances: Dryer
Laundry: Electric Dryer Hookup
A/C: Wall/Window Unit(s)
Heating: None
Fireplace: None

Pool: None
Parking: Parking spaces: 1

General: 2

HOA Amenities: 0.0
Originating MLS: CRMLS_CRP
School District: San Diego Unified
County: San Diego

Zoning: Single Family5352830700
View: City LightsOceanPanoramicView

Sewer: Public Sewer

Source: CRMLS_CRP

This listing courtesy of Joshua Massieh , Joshua Daniel Massieh

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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