Recorded sales · 2–4 units in 92109 · October 2024 – October 2026 · title company and MLS
121 sales of 2–4 units put Pacific Beach near $1,030 a square foot
121arm's-length sales of 2–4 units, $287.2M in total: 68 duplexes, 23 triplexes and 30 fourplexes
$1,030median price per sq ft; duplexes $1,155, 3–4 units $862
$946median price per sq ft for the 26 Crown Point sales
39%of buyers paid all cash (47 of 121)
How the buyers paid
All cash · 47Bank loan · 42 · median 75% of pricePrivate / bridge · 15 · median 91% of priceConstruction / rehab · 10 · median 118% of priceNot recorded · 7
From the recorded first loan. Construction / rehab means a loan larger than the price, which signals a renovation or rebuild. Not recorded: sales added from the MLS or the earlier duplex pull.
New construction, 2000 or later
Off the water, buildings from 2000 or later sold for $598 to $1,125 a square foot. Our offer is $1,207. Only Mission Beach buildings a block or less from the sand or the bay, and the small-unit triplex at 3901 Haines ($1,450 on about 2,200 sq ft), sold higher.
Crown Point's three- and four-unit sales
Sixteen sold in Crown Point in two years. The highest was $1,071,667 a unit; the median was $720,833.
What it tells us
- Our offer is already at the top of the market. At $5,150,000 Kendall is $1,207 a sq ft, above the 2–4 unit median of $1,030 and above every new building off the water except 3901 Haines, a small-unit triplex. At $1,287,500 a unit it's above every three- or four-unit sale in 92109 except two on the sand of Mission Bay: 3536–40 Bayside Walk ($1,548,333) and 2841–45 Bayside Lane ($1,850,000).
- Crown Point trades below the beach. Its 26 sales had a median of $946 a sq ft against $1,155 in Mission Beach and $1,242 in North Pacific Beach, where the ocean-bluff sales sit.
- New construction earns a premium, but not the ask. 3712 Promontory, built 2000 and a third of a mile away, sold for $1,034 a sq ft in October 2025, all cash. 855–57 Sapphire, built 2022, sold for $1,125.
- Investors pay on income. The long-term-rented fourplexes sold for 13.5 to 14.8 times gross rent. Kendall is 14.2 times at our offer, on a rent roll that's fully leased at close.
- Cash and bank loans dominate. 47 buyers paid cash and 42 used bank or mortgage loans; private and construction lenders backed 25 sales, mostly older buildings bought to renovate.
Sources: the title company's 24-month pull of 92109 2–4 unit sales (recorded October 2024 to October 2026, with county building data and recorded first loans), the earlier duplex pull, and Kip's SDMLS export for remarks, gross scheduled income and sales the county coded differently (1824 Chico, 972–78 Sapphire, 4071–73 Riviera). 1824 Chico's county record still describes the lot's old two-unit building, so it has no usable size. Price per sq ft only where the county size is complete. Excluded as likely not arm's length: 811-15 Anacapa Ct ($805,000); 824 Coronado Ct ($526,000); 4050-52 Ingraham St ($760,000); 830-32 Pismo Ct ($500,000). Areas are my grouping from Census geocodes.