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675 S Sierra Ave UNIT 15
Solana Beach, CA

675 S Sierra Ave UNIT 15

$1,735,000
2 bd • 2 ba • 1,210 sf

This analysis was generated by artificial intelligence on 1/26/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$1,735,000

Price/Sq.Ft

$1434

Year Built

1972

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• **Prime Oceanfront Location:** The property is located in a highly desirable oceanfront community with private beach access. This is a major selling point, offering residents direct access to the sand and ocean. The description notes the soothing sounds of the ocean, highlighting the appeal of this feature. • **Unique Townhome Style:** The two-story townhome provides a sense of privacy with no one above or below, which is a significant advantage over traditional condos. This provides a more private and home-like feeling. • **Potential for Rental Income:** The property is suitable for use as a second home, vacation rental, or primary residence, offering multiple options for owners. The high rental rates in the area make it a potentially lucrative investment, especially as a short-term rental. The fact that the unit has been previously rented out is an advantage. • **Updated Features:** The property includes updated features such as a modern kitchen with bamboo cabinets, granite counters, stainless steel appliances, and new carpet. These updates add to the property’s appeal and reduce the need for immediate renovations. • **Community Amenities:** The gated community provides a pool, spa, and a deck with ocean views, enhancing the lifestyle and appeal for potential buyers. These community features are likely to drive up the desirability of the property and are key to attracting buyers. • **Walkable Location:** The property is within walking or biking distance to popular attractions such as the Del Mar Race Track, Cedros Design Center, restaurants, and shops. This makes it ideal for those who value an active and convenient lifestyle.

The Bad

• **High Price per Square Foot:** At $1,433.88 per square foot, this property is priced at the higher end of the market, potentially limiting its appeal to budget-conscious buyers. While the location is desirable, the price may be a deterrent for some buyers. The data suggests that this is a highly competitive market and the price is likely inflated. • **Older Construction:** Built in 1972, the property is over 50 years old. While updates have been made (bamboo cabinets, granite counters, new carpet), it may still require maintenance and repairs associated with older buildings. This is particularly relevant for systems like plumbing, electrical, and HVAC, which may be nearing the end of their lifespan. • **Days on Market:** The property has been on the market for 177 days, which is longer than the average for comparable properties in the area. This could indicate issues with pricing or a limited buyer pool, signaling a potential need for price adjustment or a more targeted marketing strategy. • **HOA Fees and Potential Restrictions:** While the property description highlights community amenities like a pool, spa, and ocean view deck, these come with HOA fees and potential restrictions. The specific fees and rules were not listed, which is an area of potential risk that may add to the overall cost of ownership and limit property use. • **Limited Living Space:** At 1,210 square feet, the townhome may not be spacious enough for larger families or those who prefer ample living space. The 2-bedroom layout may not accommodate additional family or guest needs.

The Ugly

• **High Estimated Insurance Costs:** The estimated annual insurance cost of $6,246 is significantly high, which is a major added expense for potential buyers. This likely reflects the property's coastal location and the associated risks, potentially making ownership more expensive than other inland properties. • **Potential for Hidden Maintenance Costs:** Although the property has some updates, the age of the building (1972) suggests that there could be hidden maintenance issues. This could lead to unexpected expenses for repairs and replacements in the future, and could be a major concern for less experienced buyers. • **Price Instability:** The property's history shows significant price increases, with a 15% increase from $1,500,000 to the current listing price of $1,725,000 in just over a year, followed by a recent 0.6% increase to $1,735,000. The fluctuation in price may be a sign of market instability or that the property is overpriced in the current market, and the 177 days on the market support this. • **Coastal Environment Risks:** While flood and fire risks are minimal, the property is still subject to the potential long-term effects of coastal erosion and sea-level rise. These risks can be difficult to predict and could impact property value and insurance rates over time. The proximity to the bluff also presents risk from potential erosion. • **Potential for Train Noise:** The property's proximity to the Coaster train line may lead to noise pollution, which could be a concern for some buyers. While the description mentions the soothing sounds of the ocean, the train noise should also be considered, especially if the property is close to the tracks.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• **High-Income Buyers Seeking a Vacation Home or Investment Property:** The property's location and amenities cater to affluent buyers looking for a second home or a vacation rental property. The median income of $111,500 in Solana Beach indicates the area is popular with higher earners. • **Buyers Prioritizing Beach Access and Coastal Living:** The property's private beach access and oceanfront location are ideal for buyers who value direct access to the beach and the coastal lifestyle. The proximity to the beach makes it a premium location that will appeal to those seeking a vacation-like experience year-round. • **Investors Seeking Short-Term Rental Income:** The property's description highlights its potential for weekly vacation rentals. Given the rental rates in the area and the property's desirable location, it could generate significant income for investors. The 2-bedroom rental rate at $3,160/month confirms the strong rental market in Solana Beach. • **Buyers Comfortable with a 1970s-Era Property:** Buyers should appreciate the charm of a 1972-built property with updates while being aware of potential maintenance issues common to older buildings. The recent updates (new carpet, updated bathroom) are attractive, but older systems may require future attention. • **Buyers Who Value Walkability and Community Amenities:** The property's proximity to the Del Mar Race Track, Cedros Design Center, restaurants, and shops makes it suitable for buyers who enjoy a walkable lifestyle. The community pool, spa, and ocean-view deck provide additional lifestyle benefits.

Not For

• **Budget-Conscious Buyers:** The high price per square foot and the overall cost of the property make it unsuitable for buyers with a limited budget. Given the $1,735,000 price tag, it's likely to be out of reach for many buyers. • **Buyers Requiring Large Living Spaces:** With 1,210 square feet, this townhome may not be suitable for families or buyers who need more space. The 2-bedroom layout might not accommodate larger families or those needing additional living areas. • **Buyers Seeking New Construction:** The property was built in 1972, making it unsuitable for buyers who prefer newer construction with modern amenities and updated building codes. While updates have been made, it's still an older building with potential maintenance considerations. • **Buyers Sensitive to Noise:** While the property is described as having the 'soothing sounds of the ocean', potential buyers should be aware of the proximity to the Coaster train line, which could introduce noise pollution. Those highly sensitive to noise should consider this factor. • **Buyers Uncomfortable with HOA Restrictions:** The property is part of a private gated community with an HOA. Buyers who prefer fewer restrictions or HOA fees might find this property unsuitable. While the description emphasizes the benefits of the community, HOA fees can add to the overall cost of ownership.
Demographics
Area Median Income

$111,500

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Risk Assessment

Climate Risks

airMODERATE

4 bad air quality days per year

heatMODERATE

6 extreme heat days per year

98th percentile: 83°F

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

fireMINIMAL

Insurance: Optional

windMINIMAL

Insurance: Optional

Risk Analysis

• **High Price and Days on Market:** The property's high price per square foot ($1,433.88) and 177 days on the market suggest it may be overpriced. This could lead to difficulties in selling at the current price and indicates a potential need for price negotiation. • **Older Construction:** As a 1972 building, the property may require more maintenance and repairs compared to newer properties. Older plumbing, electrical, and HVAC systems could be prone to issues, leading to unexpected expenses. • **Potential for HOA Fees and Restrictions:** While the HOA provides community amenities, it also comes with fees and potential restrictions that buyers should carefully review. These fees can add to the overall cost of ownership and may increase over time. • **Coastal Environment Maintenance:** The coastal environment can cause salt air corrosion, requiring more frequent maintenance to the exterior and building materials. This can increase the long-term costs of ownership. • **Market Volatility:** While Solana Beach is a desirable area, real estate market conditions can change. A downturn in the market could impact property values and rental income, especially if there is an increase in inventory or a decrease in demand. • **Potential for Sea Level Rise and Coastal Erosion:** Although the property has a minimal flood risk rating, long-term risks from sea level rise and coastal erosion should be considered. These factors could impact property values and insurance costs in the future. The proximity to the bluff also introduces the risk of potential erosion and instability of the land.
Insurance
Annual Cost

$6,246

$521 per month

Financials

Monthly Costs
Market Rent (2 bed)

$3,160

Get a detailed rental estimate on Zillow®
HOA Fee

$745

Price History

Property Taxes

$17,329
2024 Tax Assessment
7.8%from previous year
Assessed Value$1,560,000
Tax Rate1.11%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$1,696,333

-2.2% below list price

Median Price

$1,500,000

Based on 6 recent sales

Price per Sq.Ft

$1,303

Comparable Properties

190 Del Mar Shores Ter #44, Solana Beach, CA 92075
Price: $1,355,000
Sq.Ft: 1,322
Beds/Baths: 2/2
$/Sq.Ft:
$1,02528.5%
Sale Date: 11/12/2024
325 S Sierra Avenue #35, Solana Beach, CA 92075
Price: $1,720,000
Sq.Ft: 1,400
Beds/Baths: 2/2
$/Sq.Ft:
$1,22914.3%
Sale Date: 11/6/2024
441 S Sierra Ave #102, Solana Beach, CA 92075
Price: $1,424,000
Sq.Ft: 1,008
Beds/Baths: 1/2
$/Sq.Ft:
$1,4131.5%
Sale Date: 10/3/2024
754 W Solana Circle, Solana Beach, CA 92075
Price: $2,750,000
Sq.Ft: 1,372
Beds/Baths: 2/2
$/Sq.Ft:
$2,00439.8%
Sale Date: 7/31/2024
764 S. Sierra Avenue, Solana Beach, CA 92075
Price: $1,429,000
Sq.Ft: 1,382
Beds/Baths: 3/3
$/Sq.Ft:
$1,03427.9%
Sale Date: 9/6/2024
839 Del Mar Downs Road #A, Solana Beach, CA 92075
Price: $1,500,000
Sq.Ft: 1,344
Beds/Baths: 3/3
$/Sq.Ft:
$1,11622.2%
Sale Date: 8/23/2024

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