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4909 Orchard Ave , #101

San Diego, CA 92107
  • $650,000
  • STATUS: Active Under Contract
  • ON SITE: 610 Days
  • ID#: 230011560SD
Short Sale
UPDATED: 69 min ago
$650,000
  • 2
    BEDS
  • 0.25
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 948
    SQFT
  • $686
    $/SQFT
Neighborhood:
Type:
Condo
Built:
1964
County:

School Ratings & Info

Listing Agent(s): Rosemary Mcclary of Rowland Realty (619-223-1621)


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 Bells 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, its all a best guess projection at this time.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2025-02-16T00:26:29.17. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
www.housesforsalesocal.com/homes/140671935
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4909 Orchard Ave , #101 San Diego, CA 92107

  • Price: $650,000
  • Status: Active Under Contract
  • On Site: 610 Days
  • Updated: 69 min ago
  • ID#: 230011560SD
2
Beds
2
Baths
0
½ Baths
0.25
Acres
948
SQFT
$686
$/SQFT
1964
Built
Neighborhood:
Ocean Beach
County:
San Diego
Area:
92107 - Ocean Beach
Property 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 Bells 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, its all a best guess projection at this time.
Exterior Features

Entry Level 1 Fencing None Open Parking Spaces 0 Parking Features Assigned Parking Total 1 Pool Features None Pool Private YN No Property Attached YN Yes Roof Common Roof Sign On Property YN No Spa YN No View Ocean View YN Yes

Interior Features

Appliances DishwasherElectric CookingRefrigerator Cooling None Cooling YN No Fireplace YN No Heating ElectricRadiant Heating YN Yes Interior Features Main Level Primary

Property Features

Association Amenities Hot Water Association Fee 700 Association Fee Frequency Monthly Association YN Yes Common Interest Condominium Community Features Gated Disclosures Covenants/Restrictions DisclosureCoastal Commission RestrictionsHOA Disclosure Garage YN Yes Laundry Features Common AreaNone Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash New Construction YN No Number Of Units In Community 15 Possession Close Of Escrow Property Sub Type Condominium Security Features Gated CommunityKey Card Entry Senior Community YN No Special Listing Conditions Short Sale Water Source Public Zoning R-1:SINGLE



Based on information from California Regional Multiple Listing Service, Inc. as of 2025-02-16T00:26:29.17. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
 
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Lori Thompson | Coldwell Banker Realty
19440 Goldenwest Street
Huntington Beach CA, 92648
Listing Agent(s): Rosemary Mcclary of Rowland Realty (619-223-1621)