Welcome to San Diego Blog | February 7, 2011
Acqua Vista | 425 Beech Street
Acqua Vista San Diego Condos…
…Are ideally located on Beech and Ash Streets at the southern end of Little Italy. The two white 17 story towers (North Tower on Beech, South Tower on Ash) have beautiful open lobbies and provide a great sense of arrival. Occupying an entire city block, townhomes with private entrances completely surround Acqua Vista.
With 390 units, Acqua Vista is an essential element of the Little Italy neighborhood housing market. Since its developer changed strategies in 2004, converting one of San Diego’s largest apartment projects into condominiums, highrise living became an option in Little Italy. The housing market in the neighborhood has flourished ever since.
Acqua Vista San Diego condos – Best Features
Low prices–Acqua Vista has been the lowest price of all full service condominiums in San Diego. This has made it extremely desirable to many buyers including investors, first time homebuyers and as a vacation home.
7th floor pool deck— Acqua Vista offers one of the most exciting social settings in downtown living. Great for sunning, barbecuing or relaxing in the spa, it’s truly a resort atmosphere with spectacular views.
Amenities and Services–The expected gym and community room compliment the amenities package. The unexpected services in Acqua Vista include valet parking, concierge service and 24 hour security.
Unsurpassed location–Straddling the borders of Little Italy and Columbia, Acqua Vista provides easy access to restaurants, nightlife and the waterfront. Expansion of the Embarcadero will add more accessible shopping and a gateway to parks and greenspace.
Acqua Vista condos for sale & recently sold
Dave’s Take on Acqua Vista–There have been 42 sales at Acqua Vista in the past year and 59 in the last 18 months! Those numbers are mind-boggling for many reasons. First, in a relatively challenging market, Acqua Vista has seen nearly 4 sales per month over the past year, and the pace of sales increased in 2010. Secondly, that means that approximately one out of every 6 homes in AV has turned over in the last year and a half.
What does this mean to a buyer or seller at Acqua Vista? Clearly, that the value proposition is very strong. People who want downtown living are finding it at a price they are willing to pay in these condos. Analyzing sales statistics–note the following:
- There are currently 16 listings, 1 & 2 Bedrooms, averaging 774 square feet. The average listing price is $233,078 and average cost per square foot is $305.
- There are 17 sales in process (wow, that is staggering when you are aware of how many are actually SOLD). They have averaged 911 sf and their average listing price is $258,784, average cost per square foot $284.
- Among the 42 sales, the average asking price was $253,243, while selling at an average of $248,860, with an average cost per square foot of $283.82.
Based on these statistics, Acqua Vista appears to have stabilized its pricing today. There isn’t yet an indication that prices are increasing, but lots of data to suggest that they are not slipping. Furthermore, with only 16 current listings the pace of sales is going to slow. This is an element that could point to increasing prices.
I live across the street from Acqua Vista and have had the chance to observe changes up close. As a real estate salesperson over these past several years I’ve thought there was the atmosphere of a college dormitory. Recently though, as a neighbor and a Realtor, there is a much stronger sense that the new residents are really a part of the neighborhood.
The numbers suggest that this is a great place to buy. If you’re a seller, the building is stable in its pricing and appears to be appreciating. There are 2 BR view homes above the 7th or 10th floor, still priced in the low to mid $200s and 1 BRs under $175,000.
Does it make sense to be a renter in Downtown San Diego when you can own a condo at these prices?
Call and ask for a projection of costs for home ownership. If you’re an investor, let us show you cash flow projections on these downtown condos.
Let’s start a conversation about San Diego real estate.