In October, 2005, WaMu loaned $1,300,000 to the former owners of this beach hut:
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
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- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
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CA DRE #01527365, CA DRE #00873197
Jim,
What do you think it’ll sell for and what type of buyer will get this?
Was there even a garage?
Being that close to the train would get old quick.
Having it near the train tracks might be appropriate considering it’s such a train wreck. 🙂
Why would anyone want this place? Besides the $800K asking price, how much would it cost to fix and finish everything? Even with the surf view it’s a crappy location.
Um…err…okaaayyyy…
I’m kind of surprised that the city let them build (well, half-build) something that tall and compact. I suppose it would be a kind of cool bachelor pad, but those rooms on the second floor can’t possibly be called bedrooms-I can’t see a family living there. And, yeah, door in the shower leading outside. Sure. Not to mention the train. And the mold. And the fact that you have to spend something like a hundred grand to finish it.
Lots of garage space:
http://www.sdlookup.com/MLS-100039899-210_1_2_Windward_Way_Oceanside_CA_92054
Shadash – you can see 3 garage doors at about 10 or 11 seconds in.
Hey Jim –
What is the zoning of this lot? R-2 or even 3? I used to live in Manhattan/Hermosa Beach – they used to divvy up places like this. Your first floor “office with a wet bar” would end up as a “bachelor” or “efficiency” apartment.
Stupid question: The greenboard in the bathrooms: Does that end up placing a “the drywall has been incomplete for X years” counter on the place, since these days its been pretty much supplanted by purple (moisture & mold resistant) drywall?
wow…maybe i’m learning something all this time reading your blog — my guess was $800K.
what a waste.
Nothing a wrecking ball can’t fix.
Now that I live on the east coast, the “indoor/outdoor” thing always comes across as exotic or kooky. I think it makes sense in areas like San Diego, but who wants to go up those stairs during a rain storm? Would you rather take the elevator and hope the power doesn’t go out?
This place just screams of Mexico…would fit right in down south.
Make it 400k and they’ve got themselves a deal.
I could have loved this place in college. It does not scream “family” does it?
Wa Mu loaned $1.3 mil on this and the location by the train tracks? No wonder they went belly up…
Yep. A classic bubble property.
A few months ago here in Atlanta, a local tv station did a drive by tour of some of the 50,000 partially developed homes in our area. I think the reporter called them PVC farms (plastic pipe sticking out of the ground).
There are two good surf spots within walking/paddling distance of the place. The pier (both sides) and O’side harbour has a good/great break.
My advice is get a USMC officer to rent a room and then you gain access to Del Mar beach (just north of there).
Other benefits include cheap short back and sides, dry cleaners and much quieter north of the pier during the summer. O’side is a much nicer place come winter anyhow.
Jim,
I don’t think this was built to be lived in. It was built to skim the money. All the gangsters involved got paid.
Hey I rented practically next door to this place while they were building it out in ’07 (on Neptune, you point the camera at it @ 6:08). Always wondered how it would turn out, guess it remains to be seen…
Oh and I’d love to see some video / comments about that whole Cleavland St. tract when you are back in that area
Looks like new construction in Tijuana.
@18. consultant: you nailed it.
Did I correctly spot the absence of an elevator car? Or was it hovering between floors somewhere?
Drainage looks non-existent — during a rainstorm, you’d have water cascading down that stairwell, pooling by the doors.
I’m sure it was someone’s idea of funky/cute, but as it stands now it’s a mess. You’d basically have to gut the basement, entire second floor, and all the bathroom showers. And I’d get an engineer to verify that the elevator shaft was sound.
…And another thing 🙂
Is it just me, or is there essentially no closet space in there?
That’s an architectural disaster. The comments about it looking like Mexican construction is right on.