Welcome to San Diego Blog | April 23, 2010
Downtown San Diego Live Work Condos & Lofts
What is a live-work condo or live work loft and where can I find them in Downtown San Diego? A live/work condo or loft is what is commonly known as a commercial condo. They come in many shapes and sizes, but usually feature a ground floor store front retail space with a loft or living component above or behind the retail space. Many of the high-rise and mid-rise buildings have live/work condos and lofts in East Village and Little Italy.
The benefits of these types of properties is that a shop-keeper can essentially live upstairs or in the back residential component and can work in the retail component. And, even though there are 2 different components, there is only one set of monthly HOA dues. Another great benefit to a live-work condo is that an owner could rent each unit out separately if they desire to do so. It’s almost like a duplex in that the owner could receive double rents on one property.
Downtown San Diego live – work Condos & Lofts For Sale
In the East Village neighborhood, the following buildings have excellent live work condo opportunities.
In Little Italy, the following buildings offer live/work lofts or condos.
What type of financing do I need to buy a live/work condo?
One of the best things about live-work lofts is that buyers can use conventional financing to buy them. Yes, you could potentially secure a 30 year fixed loan around 4% interest on a live work loft in Downtown San Diego. Parkloft, Fahrenheit, ICON and Nexus are even FHA and VA Approved. As an alternative, if there is litigation in any of the buildings we may be able to point you to commercial lenders that will lend on the property if your business has some history.
Are there any Live Work Lofts for Sale?
Live work Loft at Element in East Village with the following characteristics:
- 1333 sf with approximately 500 sf of retail space.
- Includes kitchen, bathroom & washer – dryer.
- 1 secured underground parking space.
- 12′ ceiling heights in residential condo
- Over-sized private exterior patio
- Area is up and coming with multiple new high rise developments less than 1 block away.
- Low monthly HOA dues – $555 per month
Another Example of a Live Work property also known as a shop-keeper unit is this one at Village Walk:
Property feature include:
- 1800 sq ft of total space
- shop keeper residence (established deli of approximately 600 sf) at street level on India Street which is prime Little Italy real estate.
- Upstairs town home style 2 level residence occupying 2nd and 3rd floors. Features approximately 1200 sf with kitchen, living, dining, balcony and half bath on main level and master bedroom & bathroom on upper level.
- Includes 1 parking
- HOA dues $504 per month (for both units)
- Sold in April of 2017 for $900,000 or $500 per sq foot.
Fahrenheit Condos – Live Work Space
- Ground floor live/work loft for sale with approximately 2000 sq ft of space. This property features retail frontage on 10th avenue.
- 11′ ceilings
- One Full Bath, One Half Bath
- 2 Parking Spaces
- Direct Street Access
- Private Terrace
For more information, Give us a call: 619-356-3099