2121 Thomas Ave San Diego, CA 92109-4649
Property profile & analytics
2121 Thomas Ave San Diego, CA 92109-4649
- Apartment buildings
- 6,653 SF
- 0.15 lot acres
Property ID
US09-8684286
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 2121 Thomas Ave
- Year built
- 1990
- Lot size
- 0.15 lot acres
- Property size
- 6,653 SF
- Zone code
- R-3:RESTRICTED MULTIPLE
- Property type
- Apartment buildings
- APN
- 424-202-04-00
- APU
- 4242020400
Description
This exceptional ten-unit apartment building, located at 2121 Thomas Ave in San Diego's desirable Pacific Beach neighborhood (zip code 92109), presents a lucrative investment opportunity. Built in 1990 and extensively renovated in 2022, this Class B property boasts 6,653 square feet on a 6,468 square foot lot (APN 424-202-04-00). The building features a mix of unit sizes: two studios (approximately 460 sq ft each), five one-bedroom/one-bathroom units (approximately 620 sq ft each), and three two-bedroom/one-bathroom units (approximately 863 sq ft each). The 2022 renovation encompassed a complete overhaul, including new quartz countertops, stainless steel appliances, cabinetry, vanities, custom tile shower enclosures, split heating and air conditioning units, vinyl plank flooring, fresh interior and exterior paint, new staircases and landings, a new roof, waterproof deck coating, and a new 400-amp electrical service with 100-amp individual panels for each unit. Further enhancing the property's appeal, each unit includes its own private laundry, and select units offer private patios and access to rooftop decks with stunning ocean and bay views. All work complies with current building codes and permits (RM-1-1 zoning). The property's strong financial performance is reflected in its $6,795,000 asking price, $287,381 NOI, and 4.23% cap rate. This turnkey asset offers a prime beach market location and exceptional value for investors seeking a high-return property in a sought-after coastal community.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,275,000
- ML approach
- $3,220,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $4,237,000
Market price range: $1.71M - $4.24M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $3,235,000 Current use
- RETAIL STORES
- $4,860,000 Change: +50% Conversion: Difficult
- MEDICAL BUILDING
- $3,875,000 Change: +20% Conversion: Moderate
- OFFICE BUILDING
- $2,810,000 Change: -13% Conversion: Moderate
- INDUSTRIAL (GENERAL)
- $2,675,000 Change: -17% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- San Diego
- County
- San Diego
- State
- California
- Longitude
- -117.23
- Latitude
- 32.7987
- CBSA code
- 41740
- CBSA name
- SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$44,187
$2,525,033
$1,067,656
$3,592,689
-
$0.00
$0.00
$0.00
