Welcome to San Diego Blog | January 31, 2011
M2i | 1050 Island & 527 10th
M2i San Diego Condos…
… in Downtown San Diego’s East Village reflects the style and soul of its neighborhood to a “T” . Occupying the block from Market to Island (M2i, get it?) and 10th to 11th, M2i Condos is just 3 blocks from Petco Park and in the middle of the restaurant scene and nightlife that has become the hallmark of East Village living.
Built in 2005 by Citymark, M2i is a 7 story, 230 unit “loft” building. Inside you will find open loft spaces ranging from less than 800 square feet to over 1,300 sf. Or a beautfully finished condominium with 2 bedrooms and a den. In any case, you can expect high sweeping ceilings, exposed pipes and ductwork, beautiful stainless steel kitchens and lots of living space.
M2i San Diego Condos – Best Features
Real Loft Living–Have you been in a San Diego residence with 11-14 foot ceilings? At M2i, this is standard. So are polished concrete floors, exposed pipes and ducts and large, open rooms. The builder really created the space and feel of loft living in M2i.
Living inside and outside your condo–Ok, so every building has a gym and a barbecue area. At M2i common areas feels like an extension of your home. The hallways are wide and have distinctive indirect lighting. The gym is behind backlit glass panels. The rooftop deck and barbecue is bright and sunny and feels like the downtown hotel decks.
The East Village buzz–It’s location, location, location. From breakfast at The Mission to a nightcap at Proper or Wine Steals, you’re just blocks away from endless food and drink options. Petco Park is around the corner, but from Market Street you have an easy escape and don’t have to deal with Ballpark traffic.
Groceries and other essentials–M2i is that building in East Village that has Starbucks on the main floor. It’s also across the street from Albertsons downtown grocery store. Access to public transportation is easy and convenient. East Village has seen some really cool boutique hotels, including The Indigo, San Diego’s most “dog-friendly” hotel.
The Next Big Thing–East Village is less than a decade old and there is so much more on the horizon. The new Thomas Jefferson Law School will open this year. San Diego’s long overdue Public Library is being built (pun intended). A seventeen acre site is in the midst of permitting and financing for parks, education and additional residential and commercial development. Do we dare hold our breath for the new Chargers Stadium?
M2i Condos for sale & recently sold
Dave’s take on M2i–As a place to live, M2i is one of my favorites. It’s in a superb location, walking distance to anything and everything you need. But it’s also simple to leave, with great access to freeways and public transportation. You’re not part of the closed down streets on Padres days. It’s just a very convenient place to be. Tall ceilings, concrete floors and modern kitchens create great living spaces. In most M2i condos, this blank canvas is yours to finish to your taste. There are some homes that have 1 or two bedroom condos, however.
East Village has great diversity in the style of condominium available. The Legend and The Mark are beautiful full service highrise condo towers. They are reasonable comps in terms of space, pricing and the number of homes built and sold since opening in the past 5 years. A few interesting observations of current listings:
- There are currently 5 Listings at M2i. The average listing price is $531,200, average size is 1,232 sf, cost/sf is $428. A 1,200 SF 2 BR averages approximately $410/mo HOA.
- There are currently 12 listings at The Legend. The average listing price is $563,058, average size is 988 sf, cost/sf is $428. A 988 sf 2 BR averages approximately 826/mo. HOA.
- The Mark currently has 5 listings. The average listing price is $913,959., average size is 1,488 sf, cost/sf is $599. A 1230 sf 2 BR averages approximately $725/mo. HOA.
This data does a lot to identify the M2i buyer. It has been a great place for a first time homebuyer, or someone ready to emigrate from the suburbs. There are very large, livable homes at M2i, with a comparatively low cost per square foot to purchase. One of the real advantages though, is the HOA. If you don’t need a swimming pool, and don’t require the services of a full time concierge, your monthly maintenance costs are reduced by hundreds of dollars.
The best deals in M2i might require patience. There are many homes being sold at significantly lower prices than they were originally purchased in 2005. There are short sales and foreclosures taking place. However, as you can see from the sold homes table above, homes are selling.
Can you see yourself in a cool East Village loft? Let’s have a conversation about M2i.