As we stated earlier, Chipipe is our favorite beach area in
the Salinas peninsula area. It’s no mystery why we purchased a condo here. The
condos in Chipipe offer magnificent panoramic views of beach and ocean.
Another typical building.
Floor: 3rd
Sq. ft. Approx. 2,100 inside with additional outdoor living
area of Approx. 1,400 sq. ft.
Bedrooms: 4
Bathrooms: 3 ½
Overall Condition: Very original condition. This condo has
not been remodeled or updated. Would require complete remodel of kitchen and
bath areas including removal of walls. The water supply lines would all have to
be replaced. The electrical panel and much of the wiring would also require
updating. The outdoor living area needs a complete renovation.
Social Area: No pool only lobby gathering area.
Parking/Storage: One covered parking space with storage
closet.
Price: $160,000 firm
Impression: This is a very original condition condo that
shows its age. This one is only for the serious remodeler. I would call it a
chunk of coal waiting to be transformed into a diamond. The sheer size of this
condo is impressive. Normally you would only find this amount of space in a
penthouse. Being on the third floor may put off some. However, it is high enough
and designed such that sweeping views of the beach are offered. The biggest
draw is the potential for unlimited outdoor living possibilities. The price is
keeping this one on the market. I would estimate a remodel cost of $50,000 to
transform this into an impressive condo with an unparalleled outdoor living
area. A total investment of
approximately $220,000 would put this at the high end of the market with little
or no immediate equity. This is definitely a hold-and-enjoy condo for 2-3 years
and see if appreciation offers a reward.
This building is maintained well on the inside. The
building needs to be repainted on the outside.
The outside
living area is large, approx. 1,400 sq ft.
The living room is good sized but could be made larger by
removing one of the front bedrooms.
The kitchen and laundry area are divided by a common wall.
Once removed a large kitchen could be planned.
The master bedroom is in the front of the building offering
ocean views from the sliding doors.
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