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1501 India Street 205, San Diego, California 92101, San Diego, 92101 - 2 bed, 3 bath

1501 India Street 205, San Diego, California 92101 home-pic-0
ACTIVE$1,200,000
1501 India Street 205, San Diego, California 92101
2Beds
3Baths
1,800Sqft
Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Rare Live/Work Opportunity: This property is one of only five live/work condos in the community, offering a unique blend of residential and commercial functionality in a highly desirable area.
Top Cons:
High Monthly Association Fees: The substantial association fee of $900.70 per month adds a significant ongoing cost to ownership.

Compared to the nearby listings

Price:$1.20M vs avg $699.0K (+$501,000)82%
Size:1,800 sqft vs avg 1,056 sqft94%
Price/sqft:$667 vs avg $69442%

More Insights

Built in 2002 (23 years old).
Condition: Built in 2002, this property is 22 years old. While generally well-maintained and move-in ready, the kitchen features original-era light wood cabinetry and black granite countertops which, along with the bathroom vanities and tile, appear somewhat dated compared to current styles. The stainless steel appliances are a positive update, but the overall aesthetic of the kitchen and bathrooms suggests minor cosmetic updates would be beneficial to modernize the space. The flooring and general condition are good, but the age and style of key components place it in the 'Fair' category, indicating it's functional but shows signs of being outdated.
Year Built
2002
Close
-
List price
$1.2M
Original List price
$1.55M
Price/Sqft
$667
HOA
$900.7
Days on market
-
Sold On
-
MLS number
250001286SD
Home ConditionFair
Features
View-

About this home

"PRICE IMPROVEMENT" ON RARE PURCHASE & INVESTMENT OPPORTUNITY IN LITTLE ITALY, this "Live/Work" condo offers a 2 bedroom condo with an additional 475 sq. ft. retail storefront that has an active commercial business at $3,000 mo. The residential condo offers primary occupancy, vacation home or a residential rental use at up to $4,000 month, in addition to a great long-term income at $3,000 mo. from the commercial store front of the condominium. There are only 5 live/work condos in this community in the heart of Little Italy, and Little Italy has one of the strongest business climates in downtown San Diego. Live/Work Condo in the heart of Little Italy offers 1,800 total sq. ft. total with approx. 1,325 sq. for residential condo and 475 sq. ft. for retail storefront. New tenant in retail storefront with a 5 year lease with over $100,000 invested in tenant improvements. Residential condo offers amazing living in Little Italy, steps away from main Piazza and San Diego's popular Farmers Market on Saturday!!

Nearby schools

5/10
Washington Elementary School
Public,•K-5•0.2mi
5/10
Roosevelt International Middle School
Public,•6-8•1.8mi
7/10
Point Loma High School
Public,•9-12•3.7mi
Condition Rating
Fair
Built in 2002, this property is 22 years old. While generally well-maintained and move-in ready, the kitchen features original-era light wood cabinetry and black granite countertops which, along with the bathroom vanities and tile, appear somewhat dated compared to current styles. The stainless steel appliances are a positive update, but the overall aesthetic of the kitchen and bathrooms suggests minor cosmetic updates would be beneficial to modernize the space. The flooring and general condition are good, but the age and style of key components place it in the 'Fair' category, indicating it's functional but shows signs of being outdated.
Pros & Cons

Pros

Rare Live/Work Opportunity: This property is one of only five live/work condos in the community, offering a unique blend of residential and commercial functionality in a highly desirable area.
Exceptional Location: Situated in the vibrant heart of Little Italy, known for its robust business climate, cultural attractions, and proximity to key amenities like the Piazza and Farmers Market.
Strong Dual Income Potential: Offers immediate and stable commercial income ($3,000/month with a new 5-year lease) alongside significant residential rental potential (up to $4,000/month).
Secure Commercial Tenancy: Features a new commercial tenant with a 5-year lease and over $100,000 invested in tenant improvements, ensuring long-term income stability.
Flexible Residential Use: The residential portion can be utilized as a primary residence, a vacation home, or a rental property, offering diverse ownership options.

Cons

High Monthly Association Fees: The substantial association fee of $900.70 per month adds a significant ongoing cost to ownership.
Recent Price Reduction: A notable 'PRICE IMPROVEMENT' from $1.549M to $1.2M suggests potential challenges in market valuation or extended time on market.
Niche Market Appeal: As a specialized live/work unit, its unique nature may appeal to a more limited buyer pool compared to conventional residential or commercial properties.

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