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Building is undergoing extensive repairs and upgrades. Just had a $75,000 assessment and expects as much as $168,000 more beginning February 1, 2025. Payable over 14 months. Cash buyers only unless buyer has special arrangement with lender. Unit has a reverse mortgage balance of approximately $1,000,000 and need a short sale to close. Note: $104,220+/- for unpaid assessments. Building has been "red flagged" by the City of San Diego. Paul Bell’s mother owns unit 304 so Paul has been appointed to manage our building renovation because he has extensive experience in running development projects. We spoke yesterday and I asked him to give me an update so all can plan. He said the garage wall construction was delayed due to trying to find the low cost and best approach but now it is on track to hopefully start in a month or two. At this point, it looks like parking restrictions will happen during the construction. I will keep you informed. As for the remaining and challenging improvements to be done include: replacing most of the stucco, repair the staircase, repair the walkways, repair the balconies/windows/doors and replace the electrical panel plus beautifying the front of the building etc. I believe and our contractor/permit advisor believe the best approach to get all the work done at the lowest and quickest cost is to close the building for 3-4 months which would be a hardship for all. We are required to get city and coastal permits so it would be best to submit the entire plan but not include our coastal bluff. The permits will take 7-12 months to get approvals before construction could start. As a result, the most conservative estimate is that the building would be closed January thru April 2025, possibly May. Remember, it’s all a best guess projection at this time.
Address |
4909 Orchard Ave
Unit# 101 San Diego, CA 92107 |
Listing Status | CONTINGENT |
Asking Price | $650,000 |
Original Listing | $1,100,000 @ 2023-06-15 |
Short Sale | Yes |
Terms | Cash |
Days on MLS | 670 |
Age Restriction | N/K |
Property Type | Condominium |
Total Units | 15 building / 15 complex |
Property Restrictions | CC&R's,Coastal Commission |
Sales Restrictions | Need SS- No Lender Knwldg |
Mello-Roos Fee | $0 |
HOA Fee | $700 Monthly |
HOA Fee Includes | Common Area Maintenance, Hot Water |
Square Footage | 948 sf |
Bedrooms | 2 + 0 optional |
Full Bathrooms | 2 |
Family Room | 0x0 |
Living Room | 20x13 |
Dining Room | 0x0 |
Kichen | 10x9 |
Master Bedroom | 13x11 |
2nd Bedroom | 11x11 |
Directions | Not Provided |
Cross Street | Cable |
Market Area | Coastal South |
Community Area | OCEAN BEACH |
Neighborhood | ocean beach |
Complex | Sunset Towers |
School District | Not Listed |
County | San Diego |
Assessor Parcel# | 448-151-03-05 |
Zoning | R-1:SINGLE |
Geographic Areas |
Community College District: San Diego CC |
Highway Locator |
West of I-15 West of I-5 West of I-805 West of SR-163 South of SR-78 |
Ocean Distance | 0.0 miles |
Year Built | 1964 |
Laundry Location | Community |
Elevator | Not Listed |
Cooling | N/K |
Heating | Electric Radiant |
Sewer/Septic | Sewer Connected |
Fireplaces | 0 (N/K) |
Security | Gated Community, Card/Code Access |
Equipment | Dishwasher, Refrigerator, Electric Cooking |
Miscellaneous | Elevators/Stairclimber, Other/Remarks |
Platform | SDMLS |
AOR | San Diego Association of REALTORS (SDAR) |
MLS Number | 230011560 |
Courtesy of | Rowland Realty |
https://www.californiatophomes.com/230011560
Style | All Other Attached 1 Story |
Material | Wood/Stucco |
Floor Level | 1 of 3 |
Lot Size | 0 (Common Interest) ~ 10,886 sf |
Fencing | N/K |
Topography | Other/Remarks |
Roof | Common Roof |
Swimming Pool | N/K |
Patio | Balcony |
Parking |
Assigned
Underground
Total Spaces: 1
Garage Spaces: 1
Non-Garage Spaces:
0 -
None Known
|
View | Ocean, Panoramic Ocean |
Unit Location | End Unit,1 common wall |