Welcome to San Diego Blog | February 25, 2011

Fahrenheit East Village | 1025 Island Ave

Fahrenheit Downtown San Diego Condos…

…are located in the East Village ball park district.  The Fahrenheit building is a 7 story mid-rise with 77 condos that wrap around the north and west sides of the Padres Parkade parking structure.  Fahrenheit includes live work condos also referred to as live work lofts that open out to 10th Ave plus studio, one bedroom and two bedroom loft style condos.

There are many different styles of loft condos in downtown San Diego; Fahrenheit is considered a loft style building because it has exposed concrete ceilings, plumbing and duct work.  There are some two story lofts and also some traditional floorplan condos with loft style ceilings.   Ceiling heights in Fahrenheit East Village are higher than most buidings and range from 11-14 feet.

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Fahrenheit San Diego Condos

Best Features –

Small Community – with only 77 condos, Fahrenheit is a comfortable place to live without too much hustle and bustle activity in and out of the building.  At Fahrenheit, you’ll know your neighbors, but won’t run into them all that often.

Price – Condo prices at Fahrenheit San Diego Condos have an average sales price of $297 per square foot over the past 18 months.  This is amazing value for a great location in the vibrant East Village neighborhood.  Fahrenheit is solid concrete, steel and glass and would cost a developer around $500 per square foot to replicate a like building.  If you’re not concerned with no amenities, then you will like the moderate monthly HOA dues ranging from the mid $300 to mid $400 range.  Some of the live/work loft spaces with large size pay in the low to mid $500 per month range, but this is just a few select properties.

Style – You’ll either like it or you wont!  Very contemporary, bright colors in the common areas and exterior and lots of concrete and glass.  It won the 2006 Orchid award for it’s design and is an architects delight.

Fahrenheit Condos for sale and recently Sold

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Address Beds Baths Est SqFt Sales Price Price Per Sq Ft Close of Escrow
1025 Island # 511 0 1 768 $225,000 $293 8/2/2011
1025 Island # 102 1 2 1,012 $301,000 $297 9/2/2010
1025 Island # 310 0 1 766 $290,000 $379 9/24/2010
1025 Island # 101 1 2 998 $312,000 $313 12/30/2010
1025 Island # 308 2 2 1,027 $355,000 $346 1/4/2011
1025 Island # 408 2 2 1,027 $318,000 $310 12/1/2011
1025 Island # 513 2 2 1,028 $365,000 $355 1/5/2011
1025 Island # 409 2 2 1,276 $370,000 $290 8/15/2011
1025 Island # 206 1 2 1,528 $325,000 $213 6/3/2011
1025 Island # 207 0 2 1,925 $442,000 $230 3/25/2011
1025 Island # 410 2 2 1,218 $435,000 $357 12/2/2010
Averages $1,143 $339,818 $297

 

Short Sales & Foreclosures at Fahrenheit

  • 2008  Fahrenheit Sales  |  3 Foreclosures  |  0 Traditional Sales |   1 Short Sale
  • 2009  Fahrenheit Sales  |  3 Foreclosures  |  2 Traditional Sales |   5 Short Sale
  • 2010  Fahrenheit Sales  |  2 Foreclosures  |  1 Traditional Sales |   3 Short Sale
  • 2011   Fahrenheit Sales  |  1 Foreclosure    |  1 Traditional Sales |  5 Short Sales

Chad’s Take – I really like the ground floor retail and live work condos in the Fahrenheit building.  They would work perfect for a hair salon, attorney’s office, insurance agency, RE office, tanning salon, small retail boutique, or even a small coffee shop.  If you run a small business that requires a retail location, I would see it as a good investment to purchase a live work condo rather than rent space.

With the new opening of the Thomas Jefferson School of Law, these condos will start to work better as an investment option.  Because there are only 77 condos, HOA dues are a little on the high side for no amenities, but rents are already on their way up and if you can secure a really great price for a 2 bed, 2 bath condo, then the numbers would pencil nicely.

If you just want an economical place to crash in the city to go to ball games, enjoy the Gaslamp Quarter or have easy access to the Marina Embarcadero, then Fahrenheit is a good option for you.  The new pedestrian bridge at Harbor Drive makes it a really short stroll to the San Diego Bay  just to the west of the Hilton Bayfront Hotel.  I predict we will see more short sales this year than in 2010 and will continue to see a few more foreclosures in Fahrenheit.  There will be opportunities…where will you be?


Written by: chad

Categories: Buyers, Downtown San Diego, East Village, East Village Real Estate, San Diego Real Estate

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