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Wednesday, January 27th, 2010 at 2:49 PM

Yowsa

If you wanted to be near the beach, have a big ocean view, and spend less than $600,000, could you live with this:

Posted on Wednesday, January 27th, 2010 at 2:49 PM in Jim TV, North County Coastal, Thinking of Buying? | 9 Comments » | Print Print You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Reader Comments: 9 Responses

  1. If you really wanted to live in a high-rise, you could get one in downtown SD for that price.

    W.C. Varones | January 27th, 2010 at 3:53 pm

  2. Meh. Is there a chance of getting smacked with another $100K+ fee in 20 years? Risky “investment” if so.

    What are the monthly fees?

    I’m not sure this would cash flow as a rental.

    -Erica

    Erica Douglass | January 27th, 2010 at 3:54 pm

  3. But you don’t have the big, sandy beach downtown, like you do in Oceanside.

    $100,000 in 20 years? They own the land now, so no obligation related to the former lease.

    Jim the Realtor | January 27th, 2010 at 4:00 pm

  4. I’m not sure this would cash flow as a rental.

    Allow me to rearrange your words, Erica.

    I’m sure this would not cash flow as a rental.

    HOA: $530
    Taxes: $600
    Mortgage: $2500
    Maintenance, insurance, vacancy, deadbeats: ????
    Total: $3730++++

    Asking rent for 2-BR penthouse nearby: $2150

    W.C. Varones | January 27th, 2010 at 4:09 pm

  5. Cash flow is so 20th century…

    Jim the Realtor | January 27th, 2010 at 4:18 pm

  6. oceanfront rentals are still a great deal compared to purchasing. The main problem is finding one that will do a long term lease.

    I only paid $2300/mo for a large oceanfront 2 bedroom that was probably worth about $800K

    osidebuyer | January 27th, 2010 at 4:32 pm

  7. If you’re going the attached route, another $100k gets you this, which is quite a bit nicer imo.

    http://www.redfin.com/CA/Oceanside/1003-S-Tremont-St-92054/home/21881800

    There are also some nice little beach cottages on big lots outside of Saint Malo (and holy wtf with those houses) for ~$500k. If I weren’t changing jobs I would definitely be considering one.

    However, none of these can beat the view from that high rise. Was there ever a time that coastal property would cash flow? Seems like such a foreign notion now.

    Genius | January 27th, 2010 at 5:31 pm

  8. Why would I want a place that looks like an upscale prison complex with a view consisting mostly of parking lots for both cars and boats?

    No thanks.

    François Caron | January 27th, 2010 at 8:58 pm

  9. The best choice seems to be to rent a condo in this building for $2,150 a month (or the 3rd floor apartment WC actually liked too).

    Geotpf | January 27th, 2010 at 9:41 pm

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