560 First Ave,
San Diego, CA 92101
I just listed a one bedroom condo at the Hard Rock Hotel in downtown San Diego. The Hard Rock Hotel is a condo-hotel, meaning all the rooms are individually owned, but can be rented out by the owner, or more commonly, by the hotel’s management company. This can be a great option for people who want to spend some time in San Diego, but also want to benefit from the rental income while they’re away (unlike a traditional rental, that is typically rented for 3-12 months at a time). What’s great about this unit specifically, is that it’s a Queen One Bedroom; this means that it has two queen beds and a separate living room.
Gaslamp Quarter in Downtown San Diego, 207 5th Avenue
Downtown San Diego
Entrance to Hard Rock Hotel San Diego
I have two new listings at the Hard Rock Hotel. The first is a 10th floor king 1 bedroom that faces north. This unit is considerably larger and has a great living room and bar area. It also has a Juliet balcony (sliding french doors that open, but there’s no where to step out onto) which not all units have. This is NOT a short sale and the seller can close quickly. Recent sales are as high as $219,900 for this type of unit, but prices are on the rise.
The second is a 6th floor king studio that faces south, towards the Convention Center. This is a short sale and is listed at $180K. Recent comps are around $176K, but limited inventory seems to be driving the prices up. While I don’t have revenue figures for this unit, I would guess that it earns around $23K a year (based on other units I’ve seen in the past years).
Prices have gone up as much as 30% in the past year at the Hard Rock and demand has never been higher. If you’re interested in either of these units, or any other real estate in San Diego, please let me know. Denny Oh 858-243-2092 [email protected]
December 1st, 2011 Categories: Hard Rock Hotel
San Diego’s Hard Rock Hotel is getting a lot of attention these days. Investors are picking up units as quickly as they come on the market and tourists and locals are spending lots of time and money at the hotel. If you’re not familiar with the Hard Rock Hotel, click here, or here, or here. Currently, there is only one lender that I’m aware of that will provide buyers with loans there – Independent Bank. However, IB will only provide limited financing(short term ARMs with 30% down) on properties that already have loans with them.
I’ve been writing a lot about the downtown San Diego Hard Rock Hotel lately and here’s one more blog on it. I just listed an 8th floor Rock Star Suite. Unit 801 is at the south west of the hotel and it’s one of the few Rock Star Suites in the hotel. This suite has beautiful hard wood floor, two 42″ plasma TVs, a oversized shower and much more.
For those of you who don’t know how the Hard Rock Hotel works, owners get 28 days a year for free and can have it rented out when they’re not using it. It’s not a time share – you own your room and can do what you want with it.
In my opinion, San Diego’s Hard Rock Hotel is one of downtown’s best investment properties. Obviously I can’t predict the future, but I think that Hard Rock Hotel is a great buy. So far this year, there have been 22 sales at the HRH. Of those 22 sales, only two buyers had not previously owned a unit at the HRH. Additionally, one of the “new” buyers purchased two condos. What does all this mean? Presumably, it means that owners at the Hard Rock Hotel, really like owning these condos(even those who bought back in 2007 and 2008 at MUCH higher prices!). Read the rest of this entry »
May 24th, 2011 Categories: Hard Rock Hotel
Condo #452 at the Hard Rock Hotel in downtown San Diego is currently for sale. I listed it last week, but just got pictures, so here you go. This King 1 Bedroom Suite is located on the north side of the Hard Rock Hotel and has a bedroom and living room. This condo also has direct access to the unit next door, in case you want to expand the party.
This condo is a short sale and is listed at $220K – a 55% savings for whoever buys
Ive been talking to a lot of people about the Hard Rock Hotel here in downtown San Diego lately. In the past, these condos didnt make much sense, because they were priced pretty high and you needed very high occupancy rates to make any money. Now, these condos seem to be a pretty good bang for your buck. In the last 12 months, 10 condos have sold at the Hard Rock Hotel. The sale prices range from $160K-240K.
I just listed a 10th floor, King studio at the Hard Rock Hotel here in downtown San Diego. It faces south and overlooks the bay and San Diego Convention Center. This 10th floor studio is currently the lowest priced condo at the Hard Rock and in my opinion, it has the best view. Of the 14 active condos for sale at the Hard Rock Hotel, unit 1006 is the only south facing condo – which means it’s the only one with a water view!
The Hard Rock Hotel in downtown San Diego’s Gaslamp District has created quite a stir since its debut. Initially, the Hard Rock gain a TON of interest and essentially sold all 420 of its units in two days. Since then, there has been an issue with the Rande Gerber designed bars/clubs, now known as 207 and Float and a number of owners have tried to sell their investments.
With 420 condos in the downtown San Diego Hard Rock Hotel, having 24 on the market isn’t bad. Of these 24, two are in “contingent” status, meaning that they are short sales with accepted offers, but are waiting for lender approval. However, on October 16th, 2009, condo #633 sold, becoming the first (to my knowledge) resale unit in the building.
(858) 243-2092 [email protected] Cal DRE #01420194