The historic Gaslamp Quarter is located in heart of downtown San Diego. Spanning just sixteen and a half blocks, the official guidelines for the Gaslamp Quarter spans eight blocks from Broadway to Harbor Drive and just over two blocks wide over 4th, 5th, and 6th Avenues. Known as the entertainment district of San Diego, Gaslamp Quarter packs over 200 restaurants, bars, lounges, and clubs along with boutiques and art galleries. Identified for old Victorian architecture juxtaposed with modern buildings, Gaslamp District boasts beautiful high-rise condominium and loft buildings in the heart of downtown San Diego. With gas lamps lining the streets, San Diego’s Gaslamp District was not always filled with the same type of entertainment you see today.
First developed in the 1850s and 1860s, San Diego’s Gaslamp District began with a colorful history of gambling, saloons and brothels, and was once known as the Stingaree. Famous investors include William Heath Davis, the original builder in the area, Alonzo Horton, who developed the wharf, and Wyatt Earp, who ran three gambling halls. Reform in 1912 ended the red light district of San Diego known as the Stingaree. Post World War II brought an influx of people and businesses to San Diego, although the former Stingaree was now home to tattoo parlors, seedy bars, and adult entertainment like peep shows and massage parlors. The mid to late 1970s was a monumental change for the Gaslamp District, offering rehabilitation and restoration to the city’s buildings. In 1980, the area was officially listed as a historic district. The famous Gaslamp Arch was dedicated in 1991 and acted as a symbol for the continued dedication to restore this historic downtown district.
The Gaslamp District is all about location and offers investors a great opportunity to capitalize on the high volume of traffic and continued restoration efforts in the area. With properties ranging from the mid $200s up to millions, the Gaslamp District offers a plethora of opportunities for both residential and commercial real estate interests. Gaslamp Quarter is considered the 3rd most walkable neighborhood in San Diego with a total of 1,100 residents. Median household income for this area is nearly $50,000.
Rentals for the Gaslamp District are fantastic and offer higher rental income than most areas in San Diego because of the proximity to downtown, the marina district, Seaport Village and Petco Park. Fair market rents in 92101 according to the U.S. Department of Housing and Urban Development are as follows:
One Bedroom: $1,054
Two Bedrooms: $1,382
Three Bedrooms: $2,009
Four Bedrooms: $2,448
Condominium buildings in Gaslamp Quarter include Crown Bay, which is on the cusp between the Marina District and Gaslamp District located on the corners of 3rd and 4th on K Street. Completed in 2002 and featuring great amenities, a moderate HOA, and several styles of living, Crown Bay is an ideal location within downtown San Diego. Gaslamp City Square features condos, lofts and homes for sale right in the heart of the district. With construction completed in 2004, moderate HOAs and amenities including a pool and fitness center, Gaslamp City Square is in the heart of it all. Trellis is both a mid-rise and high-rise building completed in 2005. With great access to the Gaslamp Quarter and Petco Park, Trellis is a great community for buyers looking to live in the heart of downtown and experience the excitement of city living.
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