New Condos Downtown San Diego: Numbers

Sometimes for entertainment, and market education, I try to guess which downtown San Diego building has the most units for sale. It changes frequently. So today I asked myself, is it Aqua Vista, El Cortez, Pinnacle, The Grande? Sometimes I guess right, but this is not one of these times. Hold on to your hats! This time the building with the most units for sale (52) in the MLS is the Hard Rock Hotel. The Hard Rock is unique because it is really a condo hotel. You own a hotel room, which is odd in itself. You participate in revenue sharing with the hotel, but if occupancy is down, you don't receive much there. You can only stay in your "room" for a specifc number of days each year.

So why buy? In some cases, it is a great investment. It's like having a second home with all the perks of room service, clubs, restaurants, etc. If the Hard Rock has high occupancy, there is a revenue stream to help pay for the unit. It will be interesting to watch how this inventory sells....fast or slow. We will keep you posted.

By Sharyn & Victoria Crown, Downtown San Diego real estate brokers

This is part of a series of articles entitled, New Condos, Downtown San Diego Style