4909 Orchard Ave 101,San Diego, CA 92107
San Diego, CA 92107
Description
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.
Details
| MLS# | 230011560SD |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Suite Number | 101 |
| HOA Dues | $700 |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1964 |
| Days On Site | 707 |
| Listing Provided By | Rowland Realty 619-223-1621 | Rosemary McClary |
Features
| Bed(s) | 2 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 948 |
| Garage | 1 |
| Story(s) | 1 |
| Zoning | R-1:SINGLE |
| Acreage | 0.25 |
| Property View | Yes |
Market Activity 92107
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Learn More About This Property
| State | CA |
|---|---|
| County | San Diego |
| City | San Diego |
| Zip Code | 92107 |
| Area | 92107 Ocean Beach |
| Community Name | Ocean Beach |
| Listing VS Median (in Ocean Beach) | |
Price: $650,000 low | high Med: $825,000 SqFt: 948 low | high Med: 962 $ / SqFt: $686 low | high Med: $858 On site: 707 low | high Med: 35.000000 | |