3754-56 Tennyson St, Ocean Beach (OB), CA 92107

Property Description

The investment opportunity you dream about! 3754-56 Tennyson offers Ocean Beach Owners/Users/Investors and Developers the ultimate in opportunity, ease, and flexibility. Two existing detached units currently cash-flowing as short-term rentals AND being sold with fully approved, Ready-to-Issue (RTI) plans in-hand to build into a 9-unit project. The approved plans are to retain the 2bed/1bath detached front house and build 8 new 1BR/1BA, (~449–475 s.f. each) ADUs across four 2-story duplex buildings. Completion will feature 9 dwelling units totaling 4,730 s.f. of living space (new construction 3,924 s.f.). No waiting, no entitlement risk! Buyers can pull permits and start construction with no further city approvals needed - just the issuance fees. This property is also ideal for live-in buyers, Short-Term-Rental enthusiasts, and 1031 Exchangers! Operating as a licensed short-term rental, this property is ready for short- or long-term tenancy from day one. The front house is a charming 2-bed, 1-bath single-family home spanning 806 s.f. It boasts recent upgrades, including a new roof in 2025, upgraded windows, washer/dryer, and a modern AC/heating system installed in 2024. The second unit is a detached 1-bed, 1-bath home with 360 s.f. of living space built in 2020 - also with its own in-unit laundry, full kitchen, and dedicated parking area. As a bonus, it features a separate detached insulated structure (under 100 square feet) built in 2024, ideal for use as an office or game room, complete with its own AC/heating system. The lot is spacious enough that each of the units enjoys plenty of yard space to live the true Southern California lifestyle. Right in the middle of everything the Ocean Beach and Point Loma scene has to offer, do not miss this opportunity for a premium property with so much potential!