The seller acquired the property in July 2010 for $2,425,000 as a renovation project. SOS Management handled the renovation and management for the partnership and continues to manage the property. The property was previously sold in June 2004 for $2.95 million.Game on!
Thursday, February 7, 2013
Vulcan apartments sell for $250,000 per unit
14 units, $3.5 million.
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Good. Hopefully these prices will drive the lowlife riff raff outta Leucadia.
ReplyDeleteThat stretch of Vulcan needs some serious work, and it is good to see new construction and remodeling going on. Imagine what would happen if the Streetscape project actually got off of the ground...
ReplyDeleteWelcome to Leucadia, Dana Pointians. 14 renovated apartments west of 5 in Leucadia for only $250,000 each is a great deal. (Hard to find units under $400K west of 5 here. The place looks nice enough to go condo - if that's possible.
ReplyDeleteI'm wondering if the buyers were aware that much of the tenant parking occurs on the RR right of way. 100 cars park across from homes / apartments on that side of N. Vulcan in between Leucadia Blvd and La Costa Ave every day. You can just about double that at night. There's are good reasons for that. The developers didn't supply adequate parking for their projects, and/or the tenants use their garage for storage or lodging. So far, the RR has been lenient about trespassers and looked the other way, except for where their fences are gradually going up and taking back what's theirs.
I distinctly remember a main element of incorporation was to get a grip on over development locally- especially like what was occurring 27 years ago on Vulcan Ave. with crowded complexes under the county's loose rules. With all the inadequate parking still on Vulcan which only stands to get worse in time with nothing but green lights for apartments / condos coming, this reason for incorporating is now a vapor. And like what Gene Chapo once asked when he was on the Planning Commission (prior to the 3 story condos next to me were built): "Is this what we want to see on every lot on 101 in Leucadia?" No, it's only what many developers with good credit want. I have no problem with anyone being able to build WHATEVER they want. I just have a problem with when it's WHEREVER they want. Unfortunately, now our Specific Plan is treated more like a guideline that a rule.
With business as usual, 50 years down the road or less, Vulcan will be solid apartments separated only by multi-level parking structures and a wee bit more traffic. And it's anyone's guess how high structures will be if the state finds our 3 story limit old fashioned. So, I think we're very lucky to be living right now, when fish are jumpin' and the cotton is high (and music doesn't suck as much as it no doubt will then).
If you look at the numbers, no one has made any money. The only ones who lost were the tax payers, when the property went back to the bank. Remember, the banks have a sweetheart deal with the Government. The government takes the loss, not the bank. The bank gets 0% interest loans from the Feds, and then charges is customers 18% interest for credit cards and other loans. What a heist. Anyone with a balance on their credit card currently is a Fricken Moron and deserves to loose their shirt. A fool an their money are soon to be parted. Learn to live within your own means. A penny saved is a penny earned.
ReplyDeleteI would think the people next to me who built the 3 story "live lofts" wished they never bought the "great deal" on the empty lot. It was a sweetheart deal where the property owners agreed to let a developer build the 4 condos and 8 businesses in exchange for half of the final product. They each got their halves and both stakeholders lost all to the bank. One person who showed some interest in buying one of the places asked me "Where am I supposed to park?" I think 3 of the condos are empty and half of the businesses. The bank could care less about tenants as it sits there half empty with no Available signage. The "boats" on the corner seem to be more popular as the four store fronts seem to be full and nicely furnished. But another flaw in the "live work" plan for these places (and no doubt others) is that no one who lives there works there and visa versa. That creates twice the parking problem of it's intended use. Likewise, the tandem garages that are designed to house 2 cars each (one in front of the other instead of side by side) have never been used for cars but storage (at least in the four next door - not sure about the boats).
ReplyDeleteYup. The cost of parking is going up on hwy101.
ReplyDeleteThe big fashion in apartment buildings is eliminating car parking and building bike spaces. Check out Portland and Seattle. In Portland, twenty apartment building projects with NO onsite parking spaces. Keep putting in those bike lanes.
ReplyDelete5 stories we don't want. Its all about balance. We want to remain a unique cool surf town, thats why we will pass the ordinance for voters to approve all signifigant upzones and implement mucho bike lane. We will do both!
DeleteBecause we can! We are Anon. We are Strong!!!!
Anon- 8:54,
ReplyDeletetotally out of context. you are way off.
If there is a positive to come out of these terrible projects, consider them a failed pilot for the City-wide hijack attempt with the General Plan Update. I think that it will be returning in a few weeks after being shot down by the previous Council.
ReplyDeleteI respect and admire people who try to live car-free in this day and age, but the number of people who can do this in Encinitas is fairly small. Even for those who live and work in Encinitas, once people have children that they have to take to the doctor or take to school, it becomes much harder to live without a car.
We have a Planning Department who don't even have the educational credentials to have their jobs, who want to try to inflict these social experiments onto our City for the sake of growth. This has nothing to do with their support of envirnomental living or saving the planet but is based on their desire to fund their 6-figure salaries and the life-long pension benefits that go with it.
When is council going to get busy with undergrounding the tracks;
ReplyDelete1. lease out the space on top to businesses to create a revenue stream, also include openspace, trails, crossings, and small portion of apartment residential.
2. Use the 100 leased area to sell bonds and fund the construction of the undergrounding project.
Its that simple. Lets get going!
Knowing our City it will take 100 years to even talk about it. Shame.
This town and its so called leaders are too lazy to lower the tracks.
DeleteThere's not enough space to lower the tracks through Encinitas, is there? It doesn't look like it to me, but I'm only thinking about how it was done in Solana Beach. Is there another city that did it with less space on either side of the tracks?
DeleteThere is plenty of width to lower the tracks in Encinitas. Its the same width right-of-way as Solana Beach. Exactly. Lower the tracks.
DeleteLowering the tracks won't happen until the train derails and wipes out most of Leucadia. Then everyone will want the tracks lowered, and it will still take 100 years......
Deleteprobably right. Sigh.....
Delete100 means= 100 years above.
ReplyDelete7:22 seems to indicate that the general plan update indicated that we should eliminate the personal car.
ReplyDeleteNOT TRUE, even though Andreen stated that repeatedly on his blog. And it was the past majority council that attempted to hijack the general plan update when stocks and friends disbanded the GPAC and created the, hand picked by the council, ERAC that recommended 7 story development.
I didn't mean to suggest that. What I was responding to is the idea that bike racks are replacing garages. However, it seems clear to me that they are supporting reduced parking in these new developments which ignorse the fact that most people have at least 1 car. So while they are acting like they are trying to address traffic issues by having small apartments, they are only making the situation worse.
DeleteNOT
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ReplyDeleteTrenching and covering the tracks would be ideal. But the best our city could do would be to encourage NCTD to do that - it's simply not our property. Our previous representative evidently made his mind up that it was undoable as he neither supported nor promoted such an idea. I think our new representative may be more creative. But you know what would happen first. 5 people would do all they could to stall the project claiming it only would benefit 101 merchants. Their thumbs posed to press redial for the Coastal Commission.
ReplyDeleteBada Bing !! KLCC gets nailed again. Atta boy Fred, pound that hammer !!
DeleteFred, why do you try to demonize the Coastal Commission? Because Stocks didn't want to pursue trenching the tracks doesn't mean it can't be done. Trenching the train is all the more desirable since there are plans to double the tracks in the not distant future.
DeleteWe already do have a public easement on part of the railroad right of way. There's already a railtrail bicycle lane from Marchetta to A Street, and points south, which is part of the Bicycle Materplan Update. That rail trail corridor could and should be extended, BEFORE the tracks are trenched, or BEFORE the pedestrian "bridges" are trenched.
There is no reason, other than funding, that the rail corridor bicycle trail could not be maintained and extended north to La Costa Blvd. Part of maintaining the trail would be to take out the plants with thorns, causing flats, and removing the dead and dying oleanders, which are spreading an infectious plant disease throughout our Leucadia neighborhoods, as reported by the Coast News, killing off our neighborhood old growth oleanders, which do provide a privacy buffer, shade, and beauty, especially when they're in bloom.
Oleander is a toxic plant and those beautiful blooms will kill you. They are also not native.
DeleteLword is a toxic resident to Encinitas. Fat and spews nonsense all day long, all night long, all letter writing long, all blog long. The L-word needs to spend more time breathing fresh air and less time spewing nonsense.
DeleteMoonlight lofts sold.
ReplyDeleteLoser, Leucadian, all the more reason to remove the dead and dying oleanders from the railroad right of way. The city's "arborist" could do this, also removing the "goat-head" plants with thorns which cause bicyclists flats. This should be a priority rather than removing more and more old growth trees . . .
ReplyDeleteOleanders may not be natives, but they are used extensively, throughout southern Calif. on freeway onramps and offramps to help buffer noise and pollutants. They also are used as landscaping in many residential properties, as a privacy screen, including the home of former mayor and councilmember Rick Shea, who recently had to have his oleanders cut down (the stumps are still there), because they became infected.
The State has agencies which monitor citrus diseases, but none, that we're aware of, that are concerned with an insect, the sharpshooter, that is decimating oleander plants, including old growth plants, which add greenery and beauty, and which plants are drought resistant.
So who put the grass killer on the soccer field at Mullens park? And why are children playing on the contaminated ground?
ReplyDeleteThe city arborist will cut them down and clear out the goat thorns??
ReplyDeleteWhat don't you understand Lynn?
The city can't cut down what is on NCTD's easement nor are they allowed to put down cover to prevent the thorns from growing. They won't even clean up the trestle and landscape over Encinitas Blvd and Vulcan.
Oleanders are being removed from state owned land and will be removed in the Carlsbad area of I5 when they start their lane widening project.
Even though they're poisonous, I like the oleanders in bloom as well. They added a good buffer between trains and ears and looked great. Like big trees, there's a lot less of them here than there used to be. I think it was a former city person's agenda to remove all of them. Probably because they are such high maintenance - not because they're not indigenous. If they are outside of 50' from the center of the track, they're on our property not NCTD's.
ReplyDelete