We are pleased to present 934-940 Chalcedony Street, a rare four-unit coastal investment opportunity with RTI plans for 4 additional 2nd level units ideally located just two blocks from the beach in the heart of Pacific Beach. Currently operating as a vacation rental, the property offers investors immediate income alongside a compelling value-add strategy in one of San Diego's most desirable and supply-constrained coastal rental markets. Built in 1948, the property consists of four 1-bedroom/1-bath residences, each approximately 525 square feet. Each unit is complemented by its own private one-car garage accessed from the alley, an increasingly scarce amenity within San Diego's beach communities. The existing interiors provide a clear opportunity for modernization, allowing a new owner to reposition the residences, enhance the guest experience, and potentially capture additional rental income. Further distinguishing the offering is its significant development potential. Existing plans contemplate the addition of four units through the construction of a new second floor, creating an opportunity to potentially double the existing unit count while maximizing the value of an irreplaceable coastal site. Combined with the opportunity to renovate the existing residences, the expansion strategy provides multiple avenues for long-term value creation. Located only two blocks from the Pacific Ocean, residents and guests enjoy convenient access to the beach as well as Pacific Beach's extensive collection of restaurants, cafés, retail, nightlife, and outdoor recreation.