Pacific Beach is a great place for those that like to be within walking distance of the beach, as well as some of the area’s trendiest bars and cafes. Garnet Avenue is filled to the brim with everything you could want--coffee shops, restaurants, brunch spots, grocery stores, and more.
Perhaps one of the most-loved coffee places is Better Buzz Coffee. They’re known for their signature “Best Drink Ever” and delectable avocado toast. Another hot spot is Crushed. While they’re open for breakfast, lunch, and dinner, they are best known for their brunch and Instagram-worthy mimosa flights. For an eventful evening, head down the street to The Grass Skirt. This tiki-themed bar and restaurant has plenty of island drinks and bites to keep you entertained for a few hours.
A short walk away is the beach, a popular place for those who like to lay out, surf, and bike along the path (you can go all the way to Mission Beach & Boardwalk). Grab a sandwich from Board & Brew and head down to the water with some friends. If you get there early enough, you may be able to snag a bonfire pit for the evening!
There are a couple schools in the area, primarily for elementary and middle school ages. The housing in Pacific Beach is primarily apartments and condos as you get closer to the beach. There are more single-family homes toward the edge and in north PB.
These are the stats as of October 2021. For monthly stats, visit the San Diego Association of Realtors website.
92109 Pacific Beach & Mission Beach Single Family Homes: $1,577,500 (year to date average)
92109 Pacific Beach & Mission Beach Condos: $760,000 (year to date average)
Because of the high demand for properties near the beach, rental rates in the area tend to be favorable. The average single family home (as on January 2020) can rent for $4,357/month. The average 1-bedroom rents for about $1,890/month. Condos are closer to $2,716/month. Apartments in the area are usually smaller complexes with 1-2 bedroom options.
There is a very high probability of healthy long-term appreciation in Pacific Beach due to its desirable location. Rentals in the area are highly sought after so there's less vacancy time in general. You can also switch between vacation and long-term rental models depending on the season.
Seasonal fluctuation in the demand for rentals during winter can lead to decreased rental income if your tenants vacate in that season (November - January). Transient renters usually only stay a year or two, which can mean more frequent turnovers. The price-to-rent ratio is among the worst in county so monthly cash flow will be far from ideal.
752 Devon Court - Full Deal Report
2B/2.5BA condo in Mission Beach. Mission Beach property is what out-of-staters picture all California real estate to be. Beach bungalows and condos just steps from the surf with space for beach cruisers and surfboards. The perks certainly come with a price tag at $1,000,000 for a two bedroom unit. Even accounting for a lower-than-average vacancy rate due to high demand, a MB property will see a significant amount of money being lost on a monthly basis if occupied as a long-term rental. MB is one of the few neighborhoods in San Diego where we recommend looking at the vacation rental model as property owners net tens of thousands of dollars per year with it. You can charge in a week what you would get in monthly rent from a long-term renter!
5374 Middleton Road - Full Deal Report
Pacific Beach's stunning location and extravagant architecture of larger detached homes has many people rightfully calling it "trophy property." The owners of these properties generally aren't purchasing them for rental property cash flow, but rather for the pride of owning in 92109 and banking on the long-term payoff of healthy appreciation over the long term. As you can see, if rented out the property would be bleeding money since the price-to-rent ratio simply isn't there. However, this gorgeous property on Mount Soledad will only increase in value.
When choosing where to buy your investment property, you should be on the lookout for a few things. These things can be a red flag for the kind of area you want to avoid.
Good Life Property Management has become experts in Pacific Beach property management over the last 7 years. As a result, we know how to effectively market and manage your Pacific Beach home. We find that days on market are lower on average when compared to other areas and vacancy is about average. Pacific Beach property management can be challenging, but doesn’t have to be with Good Life.