Here…the septic and well approvals are active…as long as the new house meets the same set backs as the old…in other words…new house plans need to be submitted…but no new septic or we’ll,engineering studies need to be done as long as the new house is the right size (here, septic size is determined by number of bedrooms) and the septic and well are located far enough from each other…and the house.
Got to the bottom of the Del Mar property for sale.
This house was purchased in late 2015 by some investor entity I don’t recognize. It looks like they may have purchased directly from the owners because it was not listed for sale in MLS and purchase price is hidden. Then they turned around in August 2016 and tried to sell it for $1.275 mil. It lingered on market and was purchased by Whiz Builders in Nov 2016 for $1,050,000, about $200k off asking. They are the high end competition around here. They bought the 44. 10. A d a I r that I tried to buy and then they had the stop work order because the sidewalk got ruined when they took out the big tree. They are just now finishing it up. They’ve had it listed Comng Soon at $2.1 million.
My guess is they are swimming in debt right now trying to get Adair done. The plans are attached to the listing but they are very complex plans. In looking at the City website they are about 2 weeks away from approval of plans. They are trying to dump it because they don’t have bandwidth to build right now.
I reviewed the detailed plans and it looks like they have designed an upside down house with living areas upstairs to capture the views. This is very popular around here
I just cannot stomach that two investors are going to profit selling this down the line without adding any value besides a set of plans (without knowing if they have paid permit fees of about $8k). Maybe $15 to $20 k value added plus the appreciation since last year.
Flip #7
Just sharing…the agent who convinced me to try and buy Sorrento has not even bothered to contact me in reply to my request for an update on my offer. Since I know it sold to another buyer I’m not frantic. But he should at least call me
Jerk.
So are you considering Del Mar now that you know the situation? If the Whiz people really need money maybe they’d be willing to break even or possibly cut their losses. Although still a hefty sum, of course.
Upside down houses are very popular in some lake and Sound view areas here, too.
It sounds like Whiz folks just tossed some spaghetti at the wall and are waiting if it sticks. Good luck to them. 
I think they threw spaghetti on the wall to make a quick profit because the market is hot right now
If it is as hot as the market here… A split level (yuck!!!) house in the area where we looked apparently just sold for a boatload of $$$$ over the listing price. Typo??? Where is that goggle-eyed emoji?!
5 6 2 1 104th A v e N E
$-) I it will be torn down to make room for 2 $3M boxes.
Holy… I just checked the public records… the sellers paid excise tax on $1.8M. wow.
Has this been posted? A couple redoing their kitchen CB-style. I had no idea some chichi builders in some hot RE places would rip perfectly new appliances out of the model homes. Not here - the model is sold as you have found it, just slightly cheaper than the next homes.
https://mobile.nytimes.com/2017/01/06/realestate/a-high-end-kitchen-on-the-cheap.html
@BunsenBurner … that is a wonderful story and shows that resourcefulness and a lot of sweat can get some wonderful appliances. That shopping took months, required him to rent a U Haul and drive around picking things up, moving them into a storage unit, etc and having to get items repaired. Most people wouldn’t bother.
Flip #7
Nothing new has come up with potential in the Pt Loma area. I might, just for kicks, go look at the Del Mar property that comes with plans.
I have an email out to the listing agent of T I V O L I asking him to write up an offer for me. Didn’t mention the price. Going to see if he even responds
coralbrook, is it worth it to buy something that’s not in need of total renovation – just some freshening up – and selling it after two or three months for a profit? Is that even feasible?
Why not tour it? If they don’t charge an admission fee, Lol. We’d love to hear your report!
My non-flip… Keeping my fingers crossed that the poop squad will be done with their work this week. They did a good job repairing the failing support, but god they are messy!!! Pigsty, indeed.
Sounds like all those appliances (especially the fridges) would leave them with high monthly utility bills, but otherwise very resourceful!
Quality fridges are usually very energy-efficient. Warming drawers only use energy when in use. Ditto ovens and dishwashers.
cb, if you feel like essentially building a whole house: http://www.sdlookup.com/MLS-170025099-4484_Coronado_Ave_San_Diego_CA_92107 I especially like the way they depict the sweeping lawn in the computerized photos. What are they going to do, tear down the rest of the houses on the block?
The property on Coronado is fascinating. A local realtor bought it for $840k last December and then started calling my agent quizzing how she came up with our list price for Del Monte. Owner prior to that had gutted the Spanish style little house and then gave up and sold it to the Realtor.
I guess he did all the plans and then panicked at the costs to build. The asking price is not unreasonable considering appreciation since then, hot market and the costs to do the plans. Not like the other guys on Del Mar who are asking too much. . I’m going to look at both of them later today
So is there no building at all on the Coronado property? Or is it an old house that’s been gutted?
Sometimes, folks have unreasonable plans, or a dream job pops up elsewhere… Who knows. Maybe it needs CB to rescue it from its gutted misery!