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2134 Reed Avenue
Coastal South San diego 92109

$1,890,000
2-4 Units 3,129 sq. ft. built: 1947

Main Photo: PACIFIC BEACH Property for sale: 2134 Reed Avenue in San diego
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Status:
Active
Prop. Type:
2-4 Units
MLS® Num:
250028053
Year Built:
1947
We are pleased to present 2134 Reed Avenue, a renovated triplex just two blocks to the bay in the highly popular Pacific Beach neighborhood of San Diego, California. Major upgrades have been made to the complex in the last two years including 2 completely renovated rear 1-bedroom / 1-bath units (approximately 500 SF) and a partially upgraded 2-bedroom cottage (approximately 824 SF). Roofs and fences were just completely rebuilt. Units have received upgraded power, individual washer /dryers and all new kitchens and baths in the rear units. Built in 1947 and restored in 2022, this triplex features prime walkability to the bay, beach, and popular Garnet Avenue shops, stores, restaurants and entertainment. This is an ideal investment for the location-prioritized investor, owner/user, ADU builder, or investor seeking strong cash flow for the price.
Total Floor Area:
3,129 sq. ft.
Lot Size:
1-3,999 SF
Lot Size:
3,136 sq. ft.
Number of Buildings:
2
Number of Units:
3
Year Built:
1947
Stories:
2 Story
Total Stories:
2
Market Area:
Coastal South
Community:
PACIFIC BEACH
County:
San Diego
Neighborhood Code:
crown point
Name of Complex/Subdivision:
complex
Mello Roos Fee:
0.0
Monthly Total Fees:
0.0
Other Fees:
0.0
Tenant pays:
Electricity, Gas/Propane, Water
Projected net operating income:
78184
Other income:
2669
Projected other income:
2669.0
Annual expense actual:
37670
Projected annual expense:
38557
Cap Rate.:
3.32
Projected Cap Rate.:
4.14
Gross Rent Multiplier:
18.74
Projected Gross Rent Multiplier:
16.07
Gross scheduled income:
100812
Projected gross scheduled income:
117600
Unit Number for Unit 1:
2134
Finished Area for Unit 1:
824 sq. ft.
Bedrooms for Unit 1:
2
Number of bathrooms for Unit 1:
1
Full Bathrooms for Unit 1:
1
Half Bathrooms for Unit 1:
0
Deposit for Unit 1:
3156.0
Total Rent for Unit 1:
3156.0
Projected Rent for Unit 1:
3800.0
Total Garage Spaces for Unit 1:
0
Garage for Unit 1:
N/K
Parking for Unit 1:
Assigned
Unit 1 Exclusive Use Yard:
Yes
Laundry Hook Ups for Unit 1:
Yes
Unit Number for Unit 2:
2136
Finished Area for Unit 2:
500 sq. ft.
Bedrooms for Unit 2:
1
Number of bathrooms for Unit 2:
1
Full Bathrooms for Unit 2:
1
Half Bathrooms for Unit 2:
0
Deposit for Unit 2:
2695.0
Total Rent for Unit 2:
2695.0
Projected Rent for Unit 2:
3000.0
Total Garage Spaces for Unit 2:
0
Garage for Unit 2:
N/K
Parking for Unit 2:
None Known
Unit 2 Exclusive Use Yard:
Yes
Laundry Hook Ups for Unit 2:
Yes
Unit Number for Unit 3:
2136.5
Finished Area for Unit 3:
500 sq. ft.
Bedrooms for Unit 3:
1
Number of bathrooms for Unit 3:
1
Full Bathrooms for Unit 3:
1
Half Bathrooms for Unit 3:
0
Deposit for Unit 3:
2550.0
Total Rent for Unit 3:
2550.0
Projected Rent for Unit 3:
3000.0
Total Garage Spaces for Unit 3:
0
Garage for Unit 3:
N/K
Parking for Unit 3:
None Known
Unit 3 Exclusive Use Yard:
Yes
Laundry Hook Ups for Unit 3:
Yes
Number of bathrooms for Unit 4:
0
Pacific Beach presents a unique opportunity due to its prime coastal location, popular restaurants and stores, and vibrant community atmosphere. The area is known for its beautiful beaches, active lifestyle, and a strong tourism market, attracting both locals and visitors year-round. This consistent influx of people creates a robust demand for various investment properties, including multifamily, retail, restaurants, and hospitality, making it a lucrative environment for investment. Additionally, Pacific Beach has seen significant development and revitalization efforts, enhancing its appeal and driving property values upward. Moreover, the strong rental market in Pacific Beach provides investors with the potential for stable cash flow and long term appreciation. The area’s demographics, characterized by a mix of young professionals, college students, families, and retirees, support a diverse range of commercial opportunities. With favorable zoning regulations and a supportive local government focused on sustainable development, investors can benefit from a proactive environment for growth. The combination of a thriving economy, desirable lifestyle, and limited available space makes Pacific Beach a compelling choice for anyone looking to invest in the area.
reed and noyes
Site Influences:
Alley Access, Sidewalks
Complex Features:
BBQ, Gated Community
Exterior Features:
Wood
View:
Bay
Cooling:
Wall/Window
Heating:
Wall/Gravity
Heating fuel:
Electric
Number of Units with Cooling:
3
Number of Units with Dishwashers:
3
Number of Units with Dryers:
3
Number of Units with Fireplaces:
0
Number of Furnished Units:
0
Number of Units with Garages:
0
Number of Units with Patios:
1
Number of Units with Range/Oven:
3
Number of Units with Refrigerators:
3
Number of Units with Washers:
3
Roof:
Composition
Sewer Septic:
Sewer Connected
Water Heater Type:
Gas
Water supply:
Meter on Property
Security:
Gated Community
Fencing:
Full
Short Sale:
No
Listing Type:
Exclusive Agency (A)
Age Restrictions:
N/K
Sales Restrictions:
N/K
Terms:
Conventional, Exchange
Pets:
Yes
Parcel Number:
424-202-19-00
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Listed by Marcus & Millichap
Data was last updated June 1, 2025 at 03:10 PM (UTC)
Area Statistics
Listings on market:
36
Avg list price:
$3,025,000
Min list price:
$1,425,000
Max list price:
$16,750,000
Avg days on market:
42
Min days on market:
1
Max days on market:
566
Avg price per sq.ft.:
$651.37
These statistics are generated based on the current listing's property type and located in Coastal South. Average values are derived using median calculations.
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego Multiple Listing Service, Inc. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2025 San Diego Multiple Listing Service, Inc.