The Marina neighborhood in Downtown San Diego is home to some of San Diego’s finest luxury buildings and most historic attractions. Both residents and visitors alike, can easily spend the day down by the waterfront at the Midway Museum, shop at Seaport Village or visit the convention center for an event. All of the major hotels are located in the Marina, including the Marriott, Sheraton, Hyatt, and Hilton. Because of this, the area is usually very crowded with visitors. Located within blocks of Downtown San Diego’s Gaslamp Quarter, the Marina is just steps away from world class restaurants, shopping, and nightlife.
2013 has been a comeback year for home values in the Marina and Marina Condos for Sale are second only to the East Village for Downtown San Diego’s most sought after neighborhood to purchase property. Marina condos for sale offer diverse options for buyers ranging from upscale options like The Meridian and Pinnacle, to more moderate options such as Crown Bay and Watermark. As with any Downtown San Diego neighborhood, we make the distinction of luxury vs moderate based on the building finishes, amenities, and orientations. The luxury Marina condos for sale will stand apart from other buildings due to the fact that they usually have 24 hour doormen/concierge, heated pools/spas, fitness centers, and valet parking. Whereas the more moderate buildings may not have these features but will have the standard gated/underground parking, community rooms, and night security. You’ll notice this difference in both purchase price and monthly HOA fees, where the luxury building HOA’s reach into the $700+ range.
One factor still affecting certain Marina condos for sale is building litigation. Building litigation occurs when the Homeowners Association (HOA) sues the developer over repairs that need to be made. Usually, this happens within the first 10 years after construction because the developer’s insurance will still cover the costs. While usually not a major problem, building litigation will usually affect buyer financing. Most government backed programs (FHA/Fannie Mae) are not available when the building is in litigation, therefore the buyer pool becomes much smaller. Marina condos for sale currently experiencing building litigation include: Park Place and Pinnacle.
For additional information about the Downtown San Diego Real Estate market, or for current Marina condo for sale listings, please contact us. We look forward to helping you find your next home in Downtown San Diego.