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CASH OR HARD MONEY ONLY - 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.
| Address |
2629 Island Ave
San Diego, CA 92102 |
| Listing Status | Active |
| Asking Price | $0 - $300,000 |
| Original Listing | $300,000 @ 2026-02-05 |
| Square Footage | 736 sf |
| Bedrooms | 1 |
| Full Bathrooms | 1 |
| Half Baths | 1 |
| Directions | **FROM SAN DIEGO INTERNATIONAL AIRPORT (LINDBERGH FIELD):** Head east on Harbor Dr toward Pacific Hwy. Turn left onto Pacific Hwy. Continue to Laurel St, turn right. Follow Laurel St east, turn left onto India St. Turn right onto Ivy St, then left onto Columbia St. Turn right onto Island Ave. Destination will be on your right. (Approx. 2.5 miles, 7-10 minutes) **FROM DOWNTOWN SAN DIEGO (GASLAMP QUARTER):** Head northwest on 5th Ave toward Market St. Turn right onto Market St, continue to Columbia St. Turn left onto Columbia St, then right onto Island Ave. Destination will be on your right. (Approx. 1.5 miles, 5-8 minutes) **FROM LA JOLLA:** Take Torrey Pines Rd south to I-5 S. Continue on I-5 S toward Downtown. Take exit 17 for Front St. Turn right onto Front St, left onto Laurel St, right onto India St, right onto Ivy St, left onto Columbia St, then right onto Island Ave. (Approx. 15 miles, 20-25 minutes) **FROM MISSION VALLEY:** Take I-8 W toward Ocean Beach. Merge onto I-5 S toward Downtown. Take exi... |
| Market Area | 92102 - San Diego |
| School District | Not Listed |
| Age Restriction | 0 |
| Property Type | |
| Mello-Roos Fee | $0 |
| HOA Fee | $0 |
| HOA Features | Sidewalks |
| County | San Diego |
| Assessor Parcel# | 5352830700 |
| Zoning | Single Family |
| Geographic Areas |
Community College District: San Diego CC Downtown San Diego: Grant Hill |
| Highway Locator |
West of I-15 East of I-5 South of I-8 West of I-805 South of SR-52 South of SR-56 South of SR-78 |
| Ocean Distance | 3.2 miles |
| Style | Single Family Residence |
| Material | Not Listed |
| Lot Size | ~ 000 sf |
| Fencing | Not Listed |
| Topography | Not Listed |
| Entry Steps | 2 |
| Swimming Pool | None |
| Exclusive Yard | 0 |
| Parking |
Total Spaces: 1
Garage Spaces: 1
Non-Garage Spaces:
0 -
|
| View | City Lights, Ocean, Panoramic |
| Year Built | 1920 |
| Laundry Location | Dryer Included,Electric Dryer Hookup |
| Elevator | Not Listed |
| Cooling | Wall/Window Unit(s) |
| Heating | |
| Sewer/Septic | Public Sewer |
| Fireplaces | None (0) |
| Platform | CRMLS |
| AOR | Pacific Southwest |
| MLS Number | PTP2600934 |
| Courtesy of | Joshua Daniel Massieh |
| Listing Agent |
Joshua
Massieh
josh@joshuamassieh.com |
https://www.californiatophomes.com/PTP2600934