Beach Bingo

Written by Jim the Realtor

June 2, 2009

The developers paid $2,600,000 for this .98-acre lot in March, 2004. Three years later they were ready to go, and took out a construction loan with Affinity Bank for $11,874,000:

While having you own personal elevator is quite a novelty, buyers may be a tad reluctant to spend the $2 million-something in this neighborhood for a high-density experience with a shared garage and the over-the-apartment-house ocean view.

22 Comments

  1. doug r

    With elevators, maybe they can split each place up into luxury 1 bedroom apartments.

  2. d^2

    that view doesn’t even look all that great (in the video here, anyway), with the causeway and the smokestacks. is just being able to see the ocean enough, even if what you see is ugly ocean?

    maybe, being an east coaster, it’s the lack of trees that makes these places so unappealing to me.

  3. 3clicks from da Beach

    The video doesn’t do that strip of the Pacific justice really. I wish there was more beach area but Makena has spoiled me. 2M for those is way over price.

  4. Mozart

    That’s a desperate situation. Overdone and misplaced.

    I bet it goes back to the bank and then back to market as a single piece for around $8MM.

  5. Jim the Realtor

    Happs,

    Funny you should bring that up, it’s exactly where I went looking for the same thing – Beachaus in Solana Beach.

    The most recent sale in the townhouse complex was in December for $2,000,000. But that was for two units that were put together for a combined 4,500sf.

    Gated community, much better surrounding neighborhood, and full-blown ocean views make it a much better buy.

    I’m guessing that #162 will go pending within the next 10 days.

    The Carlsbad developers have about a mill-and-a-half into each of their units, but there’s no way they’re going to give ’em away.

    They could list for $1.95 and still make a hefty pop, and might have a chance of getting out. But nooooooo, gotta make a mill each.

  6. Erin

    How many houses are on that lot? Is it 4?

  7. Former RB Resident

    What’s the point of having a personal elevator if you can’t afford an elevator attendant to sit there and run it for you.

  8. ucodegen

    I see lots of co-lumns.. I guess they must be worth that since they went and got their co-lumns..

  9. Dacounselor

    “maybe, being an east coaster, it’s the lack of trees that makes these places so unappealing to me.”

    I am from New Jersey and I am willing to pay extra for a smokestack view. With the train tracks running behind these places, it almost feels like home. Especially if I step on a few hypodermics while out on the beach below.

    “The Carlsbad developers have about a mill-and-a-half into each of their units, but there’s no way they’re going to give ‘em away.”

    I’m guessing here but I think when the dust has settled several years down the road, the options on place like these will be three – give ’em away, have them taken away, or walk away.

  10. Mozart

    Ah yes, the east coasters, such charm. I always wonder why they leave when it is so great there?

  11. osidebuyer

    I almosted rented one of those older white condos on Garfield that you showed at the beginning. Pretty nice view if you are on that street, but these monsters are staring right at the back of the neighbors. The hike to beach from there is not easy either.

  12. Dwip

    Hipps, I clicked on that link (nice place, btw) and the write up says that it’s near “notorious Fletcher Cove state beach”.

    What the heck is notorious about Fletcher Cove? Did I miss something?

  13. Happs

    The beach next to Fletcher Cove is where a swimmer was killed by a great white shark in April 2008, but don’t let that scare you, since the beaches around there are some of the best in the county.

    I think both Jim’s listing on Glenmont and the house I have the link to on Solana Point Circle are very pretty inside. They are almost identically priced but Jim’s is a better value because there are no HOA fees ($450 a month savings) and a more private backyard. If you want the ocean view, it’s just 1 mile away. The HOA savings can buy a lot of meals overlooking the ocean in Del Mar. The only thing Solana Beach lacks are ice cream trucks.

  14. Locomotive Breath

    Elevators are the up-and-coming thing since the population is aging. Several of the homes that are being rebuilt in RB due to the fires are having elevators installed.

  15. Dan

    I was in the area one day and took a look at the project. They have beautiful views of the ocean, tremendous quality. Have you looked at the project in detail? Elevators might not work for you, but could be a blessing to others.

  16. Carol

    As on of the developers on this project. CrescentDelSolEstates.com is a project that has been in the making for almost 5 years. Attention to detail has been our hallmark. I do not believe Jim has actually seen the homes or the outstanding whte water ocean and lagoon views from each home. The 3&4 car individual garages are a real plus at the beach. Great for car or motorcycle collectors. The walk around the Agua Hedionda Lagoon is a short trail and leads directly to Tamarak Beach. A great place to surf and swim. We are open 1-5pm on Weekends. Come see for yourself.

  17. Dacounselor

    “Ah yes, the east coasters, such charm. I always wonder why they leave when it is so great there?”
    ——————
    Perhaps it is because many east-coasters believe there are many different great and interesting places to live on this planet.

  18. UCgal

    Carol – I just looked at the website you posted. They look like very nice homes if that’s your style. (It’s not my style, but we’re all different.)

    I have a question about the use of the word “estate” to describe these properties, used throughout the website…

    From dictionary.com
    es-tate
    a piece of landed property, esp. one of large extent with an elaborate house on it: to have an estate in the country.

    Does the word “estate” really apply to condo/townhomes (albeit HUGE ones)that are on shared land with little yard?

  19. shoppingaround

    I think the “five years in the making” comment says it all–wrong timing for this development.

    Good concept for wealthy, aging boomers, but not at these prices in a declining market.

    There are lots of better choices for that kind of money, IMHO. Even if the details are exquisite inside (and they may well be), the slighty “off” location is tough to get around at those prices.

    P.S. to Carol: I’d get some photos of those great views onto your website–the only thing in your photo gallery right now are Carlsbad attractions. When I’m looking at homes online–I primarily want to see the details of the home, not the area. I’m sure the website was set up during construction, but if they are finished enough now, it’s probably time to link some nice photos. Good luck!

    And I don’t think it’s such a long walk to the beach if you take the trail–not the road.

  20. chuck

    Welcome addition to the neighborhood. Miss the horse (Toby) that used to roam the property but not the unkept old cottages that was torn down to build these houses.
    I’ve been in these houses and the ocean/surf views are way better then you would think, and the garage is giant.

  21. Lee Org(Broker)

    Your infor sheet is full of incorect informations!!!

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