SOMEBODY will buy it for $525k. An actual house, that close to the beach, for a half million-sold. If you are greedy, you could call it a five bedroom (calling each “den” as a seperate bedroom, plus the two upstairs). Or you could call it a studio, since none of the “bedrooms” seem to have a door on them. What do the tax rolls say?
Tax records say 3 bedrooms, 2 baths, 1,300 sq ft even. Zillow and eppraisal think it’s worth in the high $500s; cyberhomes and Redfin’s auto sold comps think it’s worth in the $300s. Redfins auto list comps say it’s worth $820,729. So everybody gets to pick a number, although that last one might make buyers think it’s a bargin.
shadash
on January 28, 2010 at 6:41 am
What is the zoning? Can another floor be added?
If it’s zoned for 4 units tear it down and put in condos. 700K (guestimated building costs)+550k = 1.250 million. Sell each unit for 450k. 450k x 4 = 1.8 million. (This all depends on adding a 3rd floor so there’s parking underneath.)
If you can add another flood I’d change the first floor into a garage. Build a third floor on top into 2-3 bedroom’s, and make the current attic/bedrooms a living room floor. If you wanted to sell eventually to old people put an elevator in. There you go now it’s “worth” 2.4 million.
GameAgent
on January 28, 2010 at 7:35 am
“This business even comes with guests booked until the end of the summer”
Jim,
The listing for this property includes the above line. Are there deposit liabilities associated with this deal? If the buyer chooses to occupy the property, would the buyer need to payback these deposits?
“…change the first floor into a garage. Build a third floor on top into 2-3 bedroom’s, and make the current attic/bedrooms a living room floor. If you wanted to sell eventually to old people put an elevator in. There you go now it’s “worth” 2.4 million.”
Yeah, $2.4m that ought to just about cover the permits and legal fees.
KeithM – Nice video. We can all take a lesson from this guy. We’re worried about high home prices, ocean views, etc.
This guy is very happy (and somewhat proud too) with his little car (with no drivers side rear view mirror btw), little garage, little apartment, and slick in/out move from the car.
Imagine the ‘horror’ of San Diegans having to live like that. We’re entitled and annointed because we’re here.
Good for that guy!!!
Jinx
on January 28, 2010 at 11:56 am
RE: parking problem video. That was so funny! I was waiting for the guy to slide back a sun roof on the top of the car to climb out.
SOMEBODY will buy it for $525k. An actual house, that close to the beach, for a half million-sold. If you are greedy, you could call it a five bedroom (calling each “den” as a seperate bedroom, plus the two upstairs). Or you could call it a studio, since none of the “bedrooms” seem to have a door on them. What do the tax rolls say?
Hmmm…found it on Redfin (listing is not up yet):
http://www.redfin.com/CA/Oceanside/916-Mira-Mar-Pl-92054/home/3164848
Tax records say 3 bedrooms, 2 baths, 1,300 sq ft even. Zillow and eppraisal think it’s worth in the high $500s; cyberhomes and Redfin’s auto sold comps think it’s worth in the $300s. Redfins auto list comps say it’s worth $820,729. So everybody gets to pick a number, although that last one might make buyers think it’s a bargin.
What is the zoning? Can another floor be added?
If it’s zoned for 4 units tear it down and put in condos. 700K (guestimated building costs)+550k = 1.250 million. Sell each unit for 450k. 450k x 4 = 1.8 million. (This all depends on adding a 3rd floor so there’s parking underneath.)
If you can add another flood I’d change the first floor into a garage. Build a third floor on top into 2-3 bedroom’s, and make the current attic/bedrooms a living room floor. If you wanted to sell eventually to old people put an elevator in. There you go now it’s “worth” 2.4 million.
“This business even comes with guests booked until the end of the summer”
Jim,
The listing for this property includes the above line. Are there deposit liabilities associated with this deal? If the buyer chooses to occupy the property, would the buyer need to payback these deposits?
“…change the first floor into a garage. Build a third floor on top into 2-3 bedroom’s, and make the current attic/bedrooms a living room floor. If you wanted to sell eventually to old people put an elevator in. There you go now it’s “worth” 2.4 million.”
Yeah, $2.4m that ought to just about cover the permits and legal fees.
This guy has the solution to the parking problem:
@~1:09
http://www.youtube.com/watch?v=QksqWRqEfy0
funny how you jab at the North Coast Village ‘anthill’ everytime you’re over there. is there a story behind that?
that back patio looks so much better cleaned up
KeithM – Nice video. We can all take a lesson from this guy. We’re worried about high home prices, ocean views, etc.
This guy is very happy (and somewhat proud too) with his little car (with no drivers side rear view mirror btw), little garage, little apartment, and slick in/out move from the car.
Imagine the ‘horror’ of San Diegans having to live like that. We’re entitled and annointed because we’re here.
Good for that guy!!!
RE: parking problem video. That was so funny! I was waiting for the guy to slide back a sun roof on the top of the car to climb out.