207 5th Ave 858, San Diego, California 92101, San Diego, 92101 - 1 bed, 1 bath
ACTIVE$299,000
207 5th Ave 858, San Diego, California 92101
1Bed
1Bath
431Sqft
52,618Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Gaslamp Location: Situated in the vibrant Gaslamp District, directly across from the Convention Center, ensuring high demand for short-term rentals and accessibility to major attractions.
Top Cons:
Cash Only Transaction: The requirement for cash-only purchase severely limits the pool of potential buyers, potentially impacting resale value and market liquidity.
Compared to the nearby listings
Price:$299.0K vs avg $692.5K ($-393,500)2%
Size:431 sqft vs avg 1,046 sqft2%
Price/sqft:$694 vs avg $69450%
More Insights
Built in 2008 (17 years old).
Condition: The property was built in 2008, making it 16 years old, which falls within the 'Good' category for age. The images reveal a very well-maintained unit with a modern, contemporary style, consistent with a high-end hotel. The bathroom features a sleek vessel sink and dark vanity, and the flooring (tile and patterned carpet) appears clean and in excellent condition. While a full kitchen is absent (as expected for a hotel unit), the overall condition, fixtures, and finishes are move-in ready with no immediate renovations required, reflecting minimal wear and tear.
Year Built
2008
Close
-
List price
$299K
Original List price
$299K
Price/Sqft
$694
HOA
$896.6
Days on market
-
Sold On
-
MLS number
240009379SD
Home ConditionGood
Features
Good View:
Deck
Pool
Spa
Patio
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 858 is a one bedroom with one king bed and faces north. This property has a separate living room and semi-private bedroom area (with a privacy curtain) and faces north towards downtown. 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 falls within the 'Good' category for age. The images reveal a very well-maintained unit with a modern, contemporary style, consistent with a high-end hotel. The bathroom features a sleek vessel sink and dark vanity, and the flooring (tile and patterned carpet) appears clean and in excellent condition. While a full kitchen is absent (as expected for a hotel unit), the overall condition, fixtures, and finishes are move-in ready with no immediate renovations required, reflecting minimal wear and tear.
Pros & Cons
Pros
Prime Gaslamp Location: Situated in the vibrant Gaslamp District, directly across from the Convention Center, ensuring high demand for short-term rentals and accessibility to major attractions.
World-Class Hotel Amenities: Owners benefit from access to Hard Rock Hotel's extensive amenities and services, enhancing the guest experience and property value.
Flexible Income Generation: Opportunity to participate in the hotel's rental management program for revenue sharing or use the unit for personal stays, offering investment flexibility.
Exclusive Owner Privileges: Unique benefits such as a private owner lounge and greater usage flexibility compared to typical rental properties.
Modern Unit with Downtown View: A relatively new build (2008) featuring a separate living room, a semi-private bedroom, and a desirable north-facing view of downtown.
Cons
Cash Only Transaction: The requirement for cash-only purchase severely limits the pool of potential buyers, potentially impacting resale value and market liquidity.
Strict Residency Restrictions: The property cannot be used as a full-time residence, making it unsuitable for buyers seeking a permanent home.
High Monthly Association Fees: A substantial monthly association fee of $896.6 for a 431 sqft unit represents a significant ongoing expense, impacting profitability for investors.