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.
What’s great about this room, is that since it’s a Rock Star Suite, it tends to generate more revenue than a standard one bedroom with a king bed. I’ve seen the rental revenue for two similar suites on the 6th and 9th floors and they earned around $23-27K(this is the owner’s share and not the gross amount that is shared with property management) in 2010. All you have to pay for in addition to the purchase price are the $672/mo HOA dues and property taxes(about 1.15% of the purchase price).
This unit was originally sold for $615K! Even worse, the unit directly above it(same type of room) sold for just under $830K from the developer. Based on the current list price of $269K, unit 801 is at least 56-68% less than what these originally sold for(801 sold after the initial sales of the Hard Rock). This is an incredible opportunity for someone to pick up a one of a kind, high yielding investment property in downtown San Diego. Call Denny Oh today to get more info about the Hard Rock Hotel, or other San Diego real estate deals.
Denny Oh 858-243-2092 [email protected]