Yowsa

by | Jan 27, 2010 | Jim TV, North County Coastal, Thinking of Buying? | 9 comments

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

9 Comments

  1. W.C. Varones
    W.C. Varones on January 27, 2010 at 3:53 pm

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

  2. Erica Douglass
    Erica Douglass on January 27, 2010 at 3:54 pm

    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

  3. Jim the Realtor
    Jim the Realtor on January 27, 2010 at 4:00 pm

    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.

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

    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

  5. Jim the Realtor
    Jim the Realtor on January 27, 2010 at 4:18 pm

    Cash flow is so 20th century…

  6. osidebuyer
    osidebuyer on January 27, 2010 at 4:32 pm

    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

  7. Genius
    Genius on January 27, 2010 at 5:31 pm

    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.

  8. François Caron
    François Caron on January 27, 2010 at 8:58 pm

    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.

  9. Geotpf
    Geotpf on January 27, 2010 at 9:41 pm

    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).

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