207 5th Ave 230, San Diego, California 92101, San Diego, 92101 - bed, 1 bath
ACTIVE$289,000
207 5th Ave 230, San Diego, California 92101
0Bed
1Bath
330Sqft
52,618Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Location: Situated in the heart of the vibrant Gaslamp District and directly across from the Convention Center, offering high demand for short-term rentals and personal use.
Top Cons:
Cash Only Purchase: The property requires a cash-only purchase, significantly limiting the pool of potential buyers and excluding those who rely on traditional financing.
Compared to the nearby listings
Price:$289.0K vs avg $692.5K ($-403,500)1%
Size:330 sqft vs avg 1,046 sqft0%
Price/sqft:$876 vs avg $69486%
More Insights
Built in 2008 (17 years old).
Condition: The property was built in 2008, making it 16 years old, which aligns with the 'Good' category's age criteria (10-20 years). As a hotel studio unit, it features a modern and well-maintained bathroom with contemporary fixtures, a vessel sink, and tiled surfaces. The main living area has clean, modern patterned carpeting and up-to-date lighting. While there is no traditional kitchen, the unit is move-in ready, shows minimal wear and tear, and benefits from the professional upkeep expected of a Hard Rock Hotel property.
Year Built
2008
Close
-
List price
$289K
Original List price
$289K
Price/Sqft
$876
HOA
$771.74
Days on market
-
Sold On
-
MLS number
240009378SD
Home ConditionGood
Features
View-
About this home
CASH ONLY - The Hard Rock Hotel is located in the heart of the Gaslamp District and across the street from the Convention Center. Residence 230 is a studio with two queen beds and faces east. This unique property offers world class service, location and amenities with a great view. Owners may enter these rooms into a rental management program and share the revenue and/or use it for personal use. Unlike traditional rental properties, owners have have more flexibility at the Hard Rock and even have a private owner lounge. You cannot live in these properties.
Condition Rating
Good
The property was built in 2008, making it 16 years old, which aligns with the 'Good' category's age criteria (10-20 years). As a hotel studio unit, it features a modern and well-maintained bathroom with contemporary fixtures, a vessel sink, and tiled surfaces. The main living area has clean, modern patterned carpeting and up-to-date lighting. While there is no traditional kitchen, the unit is move-in ready, shows minimal wear and tear, and benefits from the professional upkeep expected of a Hard Rock Hotel property.
Pros & Cons
Pros
Prime Location: Situated in the heart of the vibrant Gaslamp District and directly across from the Convention Center, offering high demand for short-term rentals and personal use.
World-Class Amenities & Services: Owners have access to the Hard Rock Hotel's world-class services and amenities, enhancing the guest experience and property value.
Rental Income Potential: Opportunity to participate in a hotel rental management program, allowing owners to generate revenue from their unit.
Flexible Owner Usage: Owners benefit from flexibility in using the unit for personal stays and have exclusive access to a private owner lounge.
Modern Construction: Built in 2008, the property is relatively new, suggesting modern design, infrastructure, and potentially lower immediate maintenance concerns.
Cons
Cash Only Purchase: The property requires a cash-only purchase, significantly limiting the pool of potential buyers and excluding those who rely on traditional financing.
No Primary Residence Allowed: The property cannot be used as a permanent residence, restricting its utility solely to investment or vacation purposes.
High Monthly Association Fees: A substantial monthly association fee of $771.74 for a 330 sqft studio unit can significantly impact the overall cost of ownership and rental profitability.