dchestney
Posts:1268
 |
| 03/03/2009 9:41 AM |
 Alert
|
For those of you with the wherewithal, two condos are now for sale at the "lovely" Del Prado--666 Upas Street.
Unit 602 (offered for $649,000) is a second home being sold by an owner who has decided to live at his primary residence, I have been told.
Unit 1005 (offered for $895,000) is being sold by the estate of the late George Furth, a well-known person of the theater:
http://en.wikipedia.org/wiki/George_Furth
With the unambigiously-predicted impending doom for properties like these, I’ll bet you can get a sweet deal.
|
|
|
|
|
|
|
dchestney
Posts:1268
|
| 03/09/2009 5:36 PM |
Alert
|
| A third Del Prado condo has just been listed for sale: Unit 802, for $619,900. The owner, who bought only last year, had leased it to a relative (and the relative's boyfriend) but that didn't work out, so the owner has decided to sell. She lives in Hawaii and has never "moved in" to her SD condo. I understand it could use some relatively inexpensive updating. |
|
|
Horst
Posts:44
|
| 03/09/2009 6:30 PM |
Alert
|
I really like Del Prado, but not the shared washer/dryer situation. I like to be able to do laundry when needed not on a schedule. Is it as bad as I think it would be?
|
|
|
Happy Owner
Posts:153
|
| 03/09/2009 6:34 PM |
Alert
|
| All three of these units do look lovely!!! Seems like a grat location from all of your previous posts, DChestney. |
|
|
Happy Owner
Posts:153
|
| 03/09/2009 6:57 PM |
Alert
|
| oops....I meant "great" location. Watching "24" and typing at the same time!!! |
|
|
dchestney
Posts:1268
|
| 03/10/2009 9:12 AM |
Alert
|
[quote]Posted By Horst on 03/09/2009 6:30 PM
I really like Del Prado, but not the shared washer/dryer situation. I like to be able to do laundry when needed not on a schedule. Is it as bad as I think it would be?
[/quote]
No, it isn't, at least not for us. For the previous 35+ years, we lived in single-family houses with laundry equipment in the garage. We wondered how the "shared laundry" arrangement would work, but the nice things about living in the Del Prado offset that, and we bought here. Now, 6.5 years after buying and 4 years after relocating full-time to SD, it has been no problem at all.
To recap previous explanations, there is a laundry room on each floor. It has new equipment, purchased fewer than two years ago (no--there is no cost to use the machines.). The five condos on each floor have agreed to a schedule whereby each condo has one "exclusive use" weekday; weekends are available on a first-come, first-use basis. Many times we have agreed, on "our" day, to let someone else run a load of wash because they were leaving/returning from a trip or had some other need--in each case, we were going to be out at that time, didn't need to do wash, or had finished for the day. Occasionally, we have done a load of wash on someone else's day under the same "ask and they shall agree" basis. It has never been a problem and isn't at all like an apartment complex with a large, general use laundry room in a basement or separate building.
Some factors support the easy reciprocity that occurs: except for one toddler, there are no "families with young children" in the building, reducing the laundry demand; owners here frequently travel or reside here only part of the year, so there are at least some days when a designated-user is not here; people are very agreeable about exchanging days and/or letting others do wash "out of turn"; and we frequently do some of our wash on Sunday early morning or evening (or during NFL football games).
The best things about the arrangement are that the building's full-time maintenance person can do minor equipment repairs as part of his workload, and we never hear the sound of the machines when they are in use--even when we are using them. Now, if they had just put a dishwasher in a room down the hall from us!!!
We love owning and living here (sorry to those of you who don't like to hear that) and have no financial connection to the sellers of units here; we don't even know them. If you have questions about what living here is like, please ask. |
|
|
Brian
Posts:4665
|
| 03/11/2009 4:46 PM |
Alert
|
#602 is $30,000 below 2004 purchase price.
#1005 asking $96,000 more than 2006 purchase price. Haha, what a laugh. Look at what prices did from 1989 to 1993. It'll be much worse this time. Timing and wherewithal is everything.
#802purchased less than a year ago and is now defaulted on property taxes. Talk about wherewithal!! I would not be surprised if this turned out to be a
straw buyer kind of deal.
|
|
|
dchestney
Posts:1268
|
| 04/23/2009 11:35 AM |
Alert
|
| Unit 602 went "sale pending" today. |
|
|
dchestney
Posts:1268
|
| 05/04/2009 6:54 PM |
Alert
|
| Unit 802 went "sale pending" today |
|
|
stella
Posts:503
|
| 05/05/2009 2:40 PM |
Alert
|
| Since some of these units have a due south view over Balboa the views would seem extremely well protected. |
|
|
dchestney
Posts:1268
|
| 05/05/2009 2:58 PM |
Alert
|
| Yes, the x02 and x04 units have ALL their windows facing south over Balboa Park. The x01 and x05 units have balconies facing that same way, with additional views to the north and either east (x01) or west (x05, with part of that obstructed by Mi Arbolito). The x03's face entirely north, toward the Heart of Hillcrest, with historic Seventh Avenue homes, the Marston house and grounds, and the "thumb" of Balboa Park "protecting" the north and northeast views. There are a few buildings slated to be built on Fifth Avenue which would obstruct part of the northwest view. |
|
|
dvpcut
Posts:31
|
| 05/05/2009 5:53 PM |
Alert
|
| Will be amazed if 802 closes anywhere close to asking price. It requires a total renovation and probably a $100k investment. When compared on a square foot basis to the unit next door door which sold at a much lower psf price in Dec, price should be closer to $500k |
|
|
dchestney
Posts:1268
|
| 05/26/2009 1:42 PM |
Alert
|
| Unit 602, which I am told was supposed to close escrow this week, is back on the market for sale. I do not know anything about the circumstances. |
|
|
Brian
Posts:4665
|
| 05/26/2009 1:53 PM |
Alert
|
As I said before, looking at the pending stats is a new thing of the last year or so.
The sold stats are so bad that the NAR is focusing on pending instead.
|
|
|
dvpcut
Posts:31
|
| 05/26/2009 1:58 PM |
Alert
|
| Any news on 802 from within the walls of Del Prado? That unit is a terrific remodel opportunity if the sale price is right. |
|
|
dchestney
Posts:1268
|
| 05/26/2009 2:24 PM |
Alert
|
[quote]Posted By dvpcut on 05/26/2009 1:58 PM
Any news on 802 from within the walls of Del Prado? That unit is a terrific remodel opportunity if the sale price is right.[/quote]
The last I heard it was not supposed to close until sometime in June. If I hear anything, I will post it. |
|
|
dchestney
Posts:1268
|
| 05/26/2009 2:33 PM |
Alert
|
[quote]Posted By Brian on 05/26/2009 1:53 PM
The sold stats are so bad that the NAR is focusing on pending instead.
[/quote]
I'm not NAR. In 92103, there were 22 CLOSINGS in about the past 30 days, with a current INVENTORY of 164--about 7.5 months of properties available for sale. (Yeah, yeah--that doesn't include Atlas as inventory OR AS CLOSINGS. Technically there are 22+x closings and 164+y inventory, with both x and y unknown.)
|
|
|
stella
Posts:503
|
| 05/26/2009 2:48 PM |
Alert
|
I'm interested in the area and the vibe I'm getting is there is less to look at that is interesting to me. I missed a few that if there were more just like it I'd probably buy it.
The reality is that Bankers Hill and Hillcrest did not got a ton of new supply like downtown or the suburbs and in my opinion it's a great area so this to me makes sense why we're at this point.
I'm really hoping some of the developments that were halted come back now that the economy and market seem to be getting better. |
|
|
dchestney
Posts:1268
|
| 05/26/2009 3:03 PM |
Alert
|
[quote]Posted By stella on 05/26/2009 2:48 PM
I'm interested in the area and the vibe I'm getting is there is less to look at that is interesting to me. . . I'm really hoping some of the developments that were halted come back now that the economy and market seem to be getting better.[/quote]
[quote]Posted By stella on 05/26/2009 2:48 PM
I'm really hoping some of the developments that were halted come back now that the economy and market seem to be getting better.[/quote]
Stella, even if a project (re)started the development process today, no new units (except perhaps at Biarritz) could be available for at least 3 years. Realistically, none will start that soon, so any other new buildings are probably 4-5 years away. Depending on your age and your satisfaction with doing what you are currently doing, that might be acceptable for you.
Having looked at Alicante and Atlas since we bought, and 3060 Sixth (Park West?) and Coral Tree before we bought, there aren't many 92103 condos I would want to buy if I were looking now. Maybe Century Tower or Trilogy (if it goes back to being condos) but I haven't been inside. Park Laurel condos are too large, expensive, and "fancy" for our taste, and I didn't like the sight lines (or the size and prices) at Mi Arbolito.
|
|
|
dvpcut
Posts:31
|
| 05/26/2009 3:16 PM |
Alert
|
With the location and planned common area improvements, this building has lots of potential for me.
I really like the **02 units and v. interested in a realistically priced unit that can be remodeled to my specas.
Given the last 3-sales averaged $382 psf, the partially remodelled 602 (Note to selling agent: antique cabinets with a fresh coat of paint should not be described as updated) should be priced closer to $535k than $649k.
|
|
|
|
|