Gaslamp City Square - 445 Island Avenue #506
Status: Sold-
$312,000
Price 1
Beds1
Baths547
Sq. Ft.-
Favorite
Tour
- MLS#: 170035399
- Listing Date: 07/07/2017
- HOA Fees: $403.08
- Parking Spaces: 1
- Neighborhood: Gaslamp
- Complex: Gaslamp City Square
- Unit #: 506
- Units in complex: 223
- Units in building: 223
- Built: 2004
- Office Information: SanDiego City Life Real Estate
- Master: 9x13
- Kitchen: 7x10
- Living: 9x14
- Bed2:
- Bed3:
- Bed4:
- Bed5:
- Family:
- Breakfast:
- Extra2:
- Extra3:
Remarks
Be in the heart of it all in the Gaslamp! This 547 sf 1 bdrm condo (not a studio) is perfect for the home buyer looking for a low pricepoint and HOA fee. This 5th flr interior facing condo has good light & a view of the pool - quieter than those that are street facing. Kitchen floor is slate. Carpet in bdrm. Stackable washer/dryer, AC, walk-in closet & 1 parking. Community has old reserve study showing 13% funded (now close to 50%) and 26.52% commercial sq ft requiring FannieMae exception. See Supplement
Supplemental Remarks
SEE ATTACHED DOCUMENTS FOR MORE DETAIL. ***Gaslamp City Square (GCS) has a reserve study that was completed August 2016 showing the HOA is 13% funded. Almost one year later after new HOA management was hired, the reserve is almost 50% funded. The HOA management company has been effective in providing supplemental documentation to lenders and their underwriters who are seeking a Fannie Mae exception for Buyer loan approvals. ***Gaslamp City Square has 26.52% commercial space square footage. The 26.52% commercial space square footage in GCS is not all retail space. This sq ft % includes the commercial garage square footage. Fannie Mae guidelines that most lenders conform have a requirement of no more than 25% commercial square footage in a condo community. This requirement has also been overcome with a Fannie Mae exception. ***Many different GCS buyers have been approved for traditional conforming loan financing - with a Fannie Mae exception. SEE ATTACHED DOCUMENTS FOR MORE INFORMATION.
More unit details
- Heat source: Electric
- Heat equipment: Forced Air Unit
- Cooling: Central Forced Air
- Laundry utilities: Electric
- Laundry location: Closet Stacked
- Water: Available
- Equipment: Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Washer, Gas Oven, Gas Stove, Counter Top
- Stories: 1 Story
- Parking spaces: 1
- Parking garage: Assigned, Gated, Underground
- Building features: BBQ, Exercise Room, Gated Community, Pool, Spa/Hot Tub
- Ownership: Condominium
- Pets: Allowed w/Restrictions
- Pool: Community/Common
- Restrictions: CC&R's
- Roof: Composition
- Security: Gated Community
- Spa: Community/Common
- Exterior: Brick
- Fencing: Full, Gate
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