Pacific Beach Bay Front

This was the trophy project of the entire portfolio. Originally built in 1950, the property had undergone two prior renovations before we purchased it in 2022 for $2,200,000.

We took the building down to the studs, replacing all surfaces, reworking all windows and doors, and making structural modifications to optimize the living spaces. Simultaneously, we obtained permits for an ADU in the rear and converted the existing garage into a one-bedroom, one-bath unit with vaulted ceilings.

This project proved to be an exceptional challenge due to its proximity to the ocean. The Coastal Commission required an in-person hearing, leading to months of back-and-forth negotiations before approving the ADU in the rear.

Financials
Purchase Price: $2,200,000
Renovation Budget: $525,000