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550 15th St 102, San Diego, California 92101, San Diego, 92101 - 2 bed, 1 bath

550 15th St 102, San Diego, California 92101 home-pic-0
ACTIVE$649,900
550 15th St 102, San Diego, California 92101
2Beds
1Bath
1,333Sqft
9,977Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Unique Live-Work/Investment Potential: Offers a rare combination of residential living and prime street-level retail space, appealing to entrepreneurs and investors seeking versatile income streams or a combined lifestyle.
Top Cons:
High Monthly Association Fees: The $682 monthly association fee is considerable and adds a significant ongoing cost to ownership, potentially impacting affordability for some buyers.

Compared to the nearby listings

Price:$649.9K vs avg $692.5K ($-42,600)45%
Size:1,333 sqft vs avg 1,056 sqft73%
Price/sqft:$488 vs avg $6943%

More Insights

Built in 2006 (19 years old).
Condition: Built in 2006, this property is 18 years old, fitting within the 'Good' category's age range. The listing highlights 'brand new hardwood flooring' and 'contemporary finishes' in the main living areas, which is evident in the bright, open spaces with high ceilings and modern flooring. The kitchen features well-maintained dark cherry-toned cabinets and stainless steel appliances, while the bathroom has a matching dark vanity with a granite countertop and a glass-enclosed shower. While clean and functional, the style of the kitchen cabinets and bathroom vanity/light fixture appears consistent with the original build year rather than a full, recent, high-end renovation. The property is move-in ready with no immediate major renovations required, and major systems appear functional, but it has not undergone a full, extensive renovation to bring all components to 'virtually new' status.
Year Built
2006
Close
-
List price
$650K
Original List price
$799K
Price/Sqft
$488
HOA
$682
Days on market
-
Sold On
-
MLS number
240024821SD
Home ConditionGood
Features
Patio
ViewCity Lights

About this home

RARE OPPORTUNITY RETAIL & RESIDENTIAL in the heart of Downtown, WALKING DISTANCE to EVERYTHING! Discover a unique and rarely available gem in the vibrant East Village neighborhood! Welcome to 550 15th St #102—a SPACIOUS 1 bed, 1 bath with walk-in closet and lots of storage PLUS PRIME RETAIL SPACE with DIRECT STREET ACCESS! A modern, versatile space designed to perfectly blend comfortable living with business (retail) potential. Key Features: • Residential Living Area (~878 sq ft) featuring an open floor plan, perfect for relaxed living or entertaining. Large windows and extra-high ceilings fill the space with natural light, highlighting its contemporary finishes and brand new hardwood flooring. • Expansive Private Patio, an outdoor oasis ideal for morning coffee, al fresco dining, or simply soaking in the San Diego sunshine. • Flexible Commercial Space (~455 sq ft) with both in-unit access and direct street access-ideal for entrepreneurs, creatives, or small business owners. Whether you’re looking to start your own storefront, studio, or office, this space offers endless possibilities with great visibility! • Prime Location: Nestled in the heart of East Village, just steps from San Diego’s best restaurants, shops, and entertainment, easy access to public transportation and major freeways. • Modern Amenities: Includes high-end finishes, in-unit laundry, and secured parking for both convenience and peace of mind. This unique property offers the rare opportunity to live and work in one space or to enjoy rental income from one area while utilizing the other. See Supplem. Don’t miss your chance to own this distinctive piece of downtown San Diego - contact us today for a private showing! This should appeal to buyers looking for a live-work space or investors interested in a unique opportunity!

Nearby schools

5/10
Sherman Elementary School
Public,•K-5•0.4mi
3/10
Burbank Elementary School
Public,•K-5•1.0mi
5/10
Washington Elementary School
Public,•K-5•1.3mi
6/10
Jefferson Elementary School
Public,•K-5•2.7mi
3/10
Perkins Elementary School
Public,•K-8•0.7mi
3/10
Memorial Scholars & Athletes School
Public,•6-8•1.4mi
4/10
Golden Hill K-8
Public,•K-8•1.7mi
5/10
Roosevelt International Middle School
Public,•6-8•2.0mi
Condition Rating
Good
Built in 2006, this property is 18 years old, fitting within the 'Good' category's age range. The listing highlights 'brand new hardwood flooring' and 'contemporary finishes' in the main living areas, which is evident in the bright, open spaces with high ceilings and modern flooring. The kitchen features well-maintained dark cherry-toned cabinets and stainless steel appliances, while the bathroom has a matching dark vanity with a granite countertop and a glass-enclosed shower. While clean and functional, the style of the kitchen cabinets and bathroom vanity/light fixture appears consistent with the original build year rather than a full, recent, high-end renovation. The property is move-in ready with no immediate major renovations required, and major systems appear functional, but it has not undergone a full, extensive renovation to bring all components to 'virtually new' status.
Pros & Cons

Pros

Unique Live-Work/Investment Potential: Offers a rare combination of residential living and prime street-level retail space, appealing to entrepreneurs and investors seeking versatile income streams or a combined lifestyle.
Exceptional Downtown Location: Situated in the vibrant East Village, providing unparalleled walkability to dining, entertainment, and public transportation, enhancing lifestyle and business visibility.
Modern Finishes & Design: Features contemporary finishes, brand new hardwood flooring, high ceilings, and abundant natural light, creating an attractive and comfortable living environment.
Private Outdoor Space: Includes an expansive private patio, a valuable amenity for urban living, offering an outdoor oasis for relaxation and entertaining.
Significant Price Adjustment: A substantial price reduction from the original listing price indicates increased value and potential for a more competitive offer.

Cons

High Monthly Association Fees: The $682 monthly association fee is considerable and adds a significant ongoing cost to ownership, potentially impacting affordability for some buyers.
Niche Market Appeal: The live-work configuration, while unique, caters to a specific buyer demographic, which may limit the pool of potential purchasers compared to traditional residential or commercial properties.
Extended Market Time: The property's duration on the market and subsequent price reduction suggest challenges in attracting buyers at its initial price point, potentially indicating market resistance or perceived value issues.

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