Residential Income in San Diego

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.