One of a Kind Developer’s Loft

Posted on July 13, 2008 | by Denny Oh

132Like 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. Its not a town home. Its not in a midrise. This deal is a developers 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, youre 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!

138Whats great about this property, aside from its incredible location, is that its just a shell “ you can build it out however you want! Its 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.

136As 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 doesnt 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.  This isn’t my listing, but I think it’s a great deal.

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

Click here to see more deals.

Other Must Reads:

Median Condo Prices “ 20 Year Sales History

Downtown San Diegos Condo Inventory

You Want to Live Downtown but Dont Want to Downsize

Leave a Reply

Your email address will not be published. Required fields are marked *