Mission Beach, a community located within the city limits of San Diego, is a classic, beach town situated on a sandbar that is bound by the Pacific Ocean to the west; Mission Bay to the east; Pacific Beach to the north; and, the San Diego River estuary to the south. It encompasses two miles of ocean front. With its boardwalk extending the length of the town and the world famous Belmont Park reputation as the hub of the town, Mission Beach’s look is very similar to that of the classic Atlantic Coast beach towns like Coney Island and Atlantic City.
The population of Mission Beach is about 46,000 with the residents’ average age at about 31 years old. With an average household income of just under $70,000, the residents enjoy the fruits of their labor participating in all of the beach sports and activities the community has to offer.
This quaint beach town is comprised of the typical resort area real estate such as condominiums, beach cottages and single family homes mostly situated on the bay front or beach front sides of the town. It is interesting to note that most of the locals live on the bay side of the town. Additionally, the area is divided, by the locals, into two sections – North Mission Beach and South Mission Beach.
“North Mission” is more of the resort part of the community with newly upgraded homes, cottages and condominium homes. This end also plays home to more of the rental properties as Mission Beach’s popularity continues to grow as a vacation destination for people from the neighboring western states. Also, this end is closer to the necessary conveniences such as grocers and other businesses located in Pacific Beach. All of this makes this part of Mission Beach very enticing to investors seeking vacation rental property.
On the south end of Mission Beach, locals are more prevalent than vacationers. Despite all of the action and events of the Old Mission Beach Athletic Club (OMBAC), “South Mission” is much more subdued than the north end. This end is defined by the eclectic cottages and large stretch of beach extending from the boardwalk to the Pacific Ocean. Additionally, fishermen are a frequent site on the jetty which extends out into the San Diego estuary off the southernmost point of Mission Beach.
An interesting fact about Mission Beach is that it is the most densely developed residential area in San Diego. It also contains the smallest lots in the entire area as well with each acre containing up to 36 dwellings. Most of the homes in Mission Beach were built in the 1930s and 1940s with many being renovated and upgraded to offer more modern conveniences. Some that were built in the early 1920s were designed as airplane bungalows and featured that bungalow style with a second floor added as upstairs bedrooms or lots. More and more, older homes on properties are being gutted in order to build newer more contemporary homes to attract vacationers.
The Real Estate Market in Mission Beach
Over the last six months, the median sales price for single-family homes in Mission Beach has been about $1.1 million with condominium and other attached property selling at around $900K. The average number of days on the market for each is about 69 days for single-family homes and 150 for condominiums.
The north end of Mission Beach is very popular with real estate investors because of its popularity with vacationers as is the beach side. Locals tend to gravitate to the bay side as well as the south end of the community.
List prices of condominium homes in Mission Beach start in the upper-$200s for small, dated units to about $3 million for newly built condominium homes along the beach with perfect views. As for single family homes, list prices typically start around the $500K mark and climb to well over $10 million for elegant homes with views to kill. The average list price is usually around $1.1 million for single family homes and about $1 million for condominium and other attached dwellings.
Strong Consideration for Mission Beach
Mission Beach real estate appeals to investors and those who want to slow down and enjoy a simple beach life. With lots of real estate that have strong rental histories and perfect property for full time residents or those wanting a weekend or summer home, this area has something to offer everyone. Make sure you check out Mission Beach….you may never want to leave!