One of a Kind Developer’s Loft

July 13th, 2008 categories: Deals

132 Like all of my deals, this deal is a great buy. Located in the Marina District of Downtown San Diego, this property is very unique. This loft is not in a highrise. It’s not a town home. It’s not in a midrise. 541 2nd Ave#2 is a developer’s delight. With over 2,500 square feet on the first floor and another 1,000 or so on the second floor areas, this loft has incredible potential. Listed at $849,000, you’re only paying $340 per square foot, or about $243 per square foot if you build out the

second level. You can’t buy dirt Downtown at this price - literally!

138 What’s great about this property, aside from it’s incredible location, is that it’s just a shell – you can build it out however you want! It’s part of the Marina Planned District zoning…..which means this property can be mixed use(office, retail, restaurant, etc.). The whole building consists of 3 units, but unit #2 is the largest and coincidently, the only one for sale. Oh, and did I mention that there are no HOA dues?

This loft is a short sale and the lender has not approved the list price yet.

136 As you can see in the pictures, the loft is truly just a shell. The brick walls and bow-truss construction provides high ceilings and give it a true loft feeling. Currently there are two semi-built out second floor areas, with a metal stairway at the entrance and a second area in the back of the unit.

Parking is not provided, but I imagine you could build out a garage, with a lift, to comfortably store two cars. This loft is for the person who wants to create their own space and doesn’t want to be part of the vertical community of Downtown. This property would provide all the convenience of Downtown living, but at a fraction of the price.

Build your own live-work loft, or use all the space to create a huge home. Do whatever you want!

There is another unit that’s completely built out next door if you’re interested in something turnkey as well.

Contact me to see this property, or any others in San Diego County.