Building is undergoing extensive repairs and upgrades. Just had a $75,000 assessment and expects as much as $168,000 more beginning February 1, 2025. Payable over 14 months. Cash buyers only unless buyer has special arrangement with lender. Unit has a reverse mortgage balance of approximately $1,000,000… Read More and need a short sale to close. Note: $104,220+/- for unpaid assessments. Building has been red flagged by the City of San Diego. Paul Bell’s mother owns unit 304 so Paul has been appointed to manage our building renovation because he has extensive experience in running development projects. We spoke yesterday and I asked him to give me an update so all can plan. He said the garage wall construction was delayed due to trying to find the low cost and best approach but now it is on track to hopefully start in a month or two. At this point, it looks like parking restrictions will happen during the construction. I will keep you informed. As for the remaining and challenging improvements to be done include: replacing most of the stucco, repair the staircase, repair the walkways, repair the balconies/windows/doors and replace the electrical panel plus beautifying the front of the building etc. I believe and our contractor/permit advisor believe the best approach to get all the work done at the lowest and quickest cost is to close the building for 3-4 months which would be a hardship for all. We are required to get city and coastal permits so it would be best to submit the entire plan but not include our coastal bluff. The permits will take 7-12 months to get approvals before construction could start. As a result, the most conservative estimate is that the building would be closed January thru April 2025, possibly May. Remember, it’s all a best guess projection at this time. Read Less
Property listed by Rowland Realty, Rosemary McClary 619-223-1621
Listing Snapshot
Days Online
684
Last Updated
Property Type
Condominium
Beds
2
Full Baths
2
Square Ft.
948
Lot Size
0.25 Acres
Year Built
1964
MLS Number
230011560SD
30 Days Snapshot Of 92107
$1.65M
+2%
(avg) sold price
12
-29%
homes sold
56
-18%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dishwasher, ElectricCooking, Refrigerator
Building
Built in 1964, Levels: One, Living area: 948, 1 story, Architectural style: , Attached
Community
Gated
Cooling
None
Fence
None
Garage
1 space
Heating
Electric, Radiant
Home Owner's Association
Association fee: $700, Association amenities: HotWater
Interior Features
MainLevelPrimary
Laundry
CommonArea, None
Lot
0.2499 acres, 10,886 square feet, Size: 10,886
Parking
1 total parking, Assigned
Pool
None
Property
Zoning: R-1:SINGLE, Ocean
Roof
CommonRoof
Security Features
GatedCommunity, KeyCardEntry
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