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.
If you really wanted to live in a high-rise, you could get one in downtown SD for that price.
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
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.
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
Cash flow is so 20th century…
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
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.
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.
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).