Oceanfront Vacation Rentals - San Diego - Mission Beach
4 Replies
- 2yDan H.Pro MemberInvestor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
Quote from @Rob Brown:
I own two oceanfront properties in Mission Beach, and I've owned and operated properties here on the oceanfront since 2005. I'm a real estate broker in Mission Beach, I'm the Vice Chair of the Mission Beach Precise Planning Board, the past President of the Mission Bay Real Estate Association and I've been on the board of Mission Beach Town Council. I've focused on investor sales since I got my real estate license in 1999 in Las Vegas and San Diego and besides vacation rentals I focus on value-add apartment deals in Pacific Beach (near mission beach, both 92109) and single family house rentals in Las Vegas. Reach out if you want to talk shop about Mission Beach, PB, La Jolla or any coastal real estate in San Diego or Las Vegas real estate!
We have had 2 mission beach STRs (Jamaica Court) since 1999, but one of our 2 units failed to get an STR license (even though it had paid all TOT and had maximum lottery entries). So one of those STRs is currently a MTR (MTR since shortly after the quota went into effect in May). We also have 2 STRs in Pt Loma. These 4 units are managed by Nancy's Vacation Rentals (NVR) (since May 2022 when I fired my previous PM). NVR is far better in every way except occupancy (which is important) than my previous PM Company.
did both your units get STR licenses? Have you noticed a slow down? We have, starting in August there have been real openings (not just the gap between bookings). Except for during Covid, we have not experienced this in years for summer months.In addition to the local STRs/MTR, we also have local LTRs that we self manage.
good luck - Real Estate Broker · San Diego, CA · Member since 2014 · 22 posts · 17 votes2y
I'm sorry to hear that you didn't get both permits. I use Surf Style for vacation rental management, they have managed all the properties I've owned since 2008 and all of my clients' properties too. They get amazing occupancy and rates so they kill it on the gross revenue while doing an excellent job maintaining the property.
I only got a Tier 4 permit for one of the two properties, so I'm living in the other one with a family member until the 2nd permit comes up on the waitlist. I have not noticed any slowdown, we've been killing it in 2023 really phenomenal gross rents up since 2022 and 2021. Oceanfront has done better than off the water the past 2 years though.
Quote from @Dan H.:
We have had 2 mission beach STRs since 1999, but one of our 2 units failed to get an STR license (even though it had paid all TOT and had maximum lottery entries). So one of those STRs is currently a MTR (MTR since shortly after the quota went into effect in May). We also have 2 STRs in Pt Loma. These 4 units are managed by Nancy’s Vacation Rentals (NVR) (since May 2022 when I fired my previous PM). NVR is far better in every way except occupancy (which is important) than my previous PM Company.Quote from @Rob Brown:
I own two oceanfront properties in Mission Beach, and I've owned and operated properties here on the oceanfront since 2005. I'm a real estate broker in Mission Beach, I'm the Vice Chair of the Mission Beach Precise Planning Board, the past President of the Mission Bay Real Estate Association and I've been on the board of Mission Beach Town Council. I've focused on investor sales since I got my real estate license in 1999 in Las Vegas and San Diego and besides vacation rentals I focus on value-add apartment deals in Pacific Beach (near mission beach, both 92109) and single family house rentals in Las Vegas. Reach out if you want to talk shop about Mission Beach, PB, La Jolla or any coastal real estate in San Diego or Las Vegas real estate!
did both your units get STR licenses? Have you noticed a slow down? We have, starting in August there have been real openings (not just the gap between bookings). Except for during Covid, we have not experienced this in years for summer months.
good luck - 2yNate MeekerBusiness MemberReal Estate CPA | California · Member since 2020 · 544 posts · 251 votes
My family use to own several acres near Kate Sessions park, sold it way too soon :/
Do you own any in Vegas? Short or Long Term?
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