1562 Diamond St
San Diego, CA 92109
$3,300,000
The Palms on Diamond is a distinctive 1980-built, six-unit multifamily property located at 1562 Diamond Street in the heart of Pacific Beach. Situated on an oversized 9,375-square-foot lot, the property consists of four spacious two-bedroom/two-bath residences complemented by two one-bedroom/one-bath cottage-style units. The four larger residences have been remodeled and feature in-unit laundry, while the two cottages are well maintained and offer future modernization potential. One cottage is incorporated into the primary structure, while the second is a standalone residence, enhancing the property's residential character. Records indicate approximately 5,068 square feet of total building area. Private outdoor areas and abundant parking further distinguish the property. Five of the six residences enjoy private decks or patios, while parking includes eight rear surface spaces, two front spaces, and a double garage. Recent capital improvements include extensive exterior wood replacement and repairs, a new roof, and a contemporary black-and-white exterior paint scheme. Additional features include a completed SB 721 inspection and a six-unit condominium plan with accompanying CC&Rs recorded in 1980. Located west of Ingraham Street, The Palms on Diamond offers convenient access to the beach, shopping, dining, and neighborhood amenities, including nearby Trader Joe's and Vons.
| Listing Id: | 260026986 |
|---|---|
| List Price: | $3,300,000 |
| Property Type: | Residential Income |
| Property Sub Type: | Com-Res Income |
| Status: | Active |
| Bedrooms Total: | 10 |
| Bathrooms Full: | 10 |
| Living Area: | 5,068 |
| Lot Size Square Feet: | 9,375.0 |
| Waterfront?: | No |
| City: | San Diego |
| County Or Parish: | San Diego |
| Postal Code: | 92109 |
| Year Built: | 0 |
| Number Of Units Total: | 6 |
| Basement: | false |
| Bathrooms Total Integer: | 10 |
| Building Area Total: | 5,068.0 |
| Building Area Units: | Sqft |
| Feed Types: | IDX |
| Living Area Units: | SquareFeet |
| Lot Size Units: | Acres |
| MLS Area Major: | Coastal South |
| Parcel Number: | 416-402-12-00 |
| Photos Change Timestamp: | 2026-11-13T01:12:46Z |
| Special Listing Conditions: | N/K |
| State Or Province: | CA |
| Stories: | 2 |
| Sdmls Area Zip: | San Diego (92109) |
| Sdmls Lvt Date: | 2026-11-12 |
| Original List Price: | $3,300,000 |
| Sale Or Rent: | For Sale |
| Sdmls Status Detail: | 0 |
| Sdmls Short Sale: | No |
| Sdmls Internet Address: | 1562 Diamond St |
| Operating Expense: | $84,360 |
| Sdmls Have: | Real Estate |
| Sdmls Unit Rent1: | 3816 |
| Sdmls Unit Rent2: | 1750 |
| Sdmls Proj Gross Multiplier: | 12.50 |
| Sdmls Proj Gross Operating Inc: | 256080 |
| Sdmls Proj Operating Expense: | 81593 |
| Sdmls Projected Net Income: | 174487 |
| Sdmls Motive Want: | Sell |
| Gross Scheduled Income: | $225,180 |
| Number Of Buildings: | 2 |
| Sdmls Numof Units1: | 4 |
| Sdmls Numof Units2: | 2 |
| Sdmls Numof Leased Apartments: | 6 |
| Sdmls Max Search Price: | 3,300,000 |
| Sdmls Price Unit: | 550,000 |
| Sdmls Unit Rent Total1: | 15,265 |
| Sdmls Unit Rent Total2: | 3,500 |
| Total Actual Rent: | $18,765 |
| Sdmls Age: | 1,980 |
| Parking Total: | 12 |
| Sdmls Geo Update Timestamp: | 2026-11-13T01:12:46.2 |
| Sdmls Full Address: | 1562 Diamond St |
| Sdmls Pp Insta: | https://www.propertypanorama.com/instaview/snd/260026986 |
| On Market Date: | 2026-11-12 |
Listing Courtesy of: MD Real Estate, Inc
Listing Agent: Dylan Wright
619-255-3233
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, noncommercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2025 San Diego MLS.
© 2026 San Diego MLS.
San Diego MLS data last updated on November 13, 2026 02:01 AM - PT.
Property Last Updated: November 13, 2026 02:01 AM - PT




