Rarely does a North Pacific Beach property present this level of flexibility, income, and long-term upside. Situated on an oversized 7,221 sq ft lot just 0.2 miles (a 5-minute walk) from the beach, this two-unit property is a compelling opportunity for investors, second-home buyers, and developers alike. The existing improvements include two 2-bedroom, 1-bath units, each with its own private outdoor space and one-car garage. Both units are lightly updated, featuring refreshed flooring, and are currently operated as proven short-term rentals. Ocean views are already captured from one unit, with the potential to enhance views through future development. Zoned RM-2-5 and located within the Complete Communities Housing Solutions (CCHS) area, the property unlocks a wide range of redevelopment pathways. Options include converting the garages into two studio ADUs, reconfiguring or expanding to four standard units, developing five condominiums, or pursuing a higher-density project of up to 14 units (subject to buyer verification and entitlements). A 30-foot height limit and 2.5 FAR further support the site’s development potential. Located within the La Jolla school boundaries and surrounded by primarily residential uses, this is a rare chance to acquire a high-performing coastal asset with meaningful current income and exceptional future optionality — just moments from the sand.