Mira Mesa Sales/Rentals

User Forum Topic
Submitted by David J on May 9, 2008 - 12:57pm

I was curious about the recent sales in Mira Mesa so I looked up about 20 of the closed sales in late april. In this small sample, it seems banks are requiring people to put down at least 20%, though there were a few FHA and VA exceptions and one Wells Fargo loan requiring 5% down.

What caught my eye though is that 4 of the properties seemed to be purchased by the same partnership:

10423 Hebrides Cir / 04/24/2008
8676 Lynx Rd / 04/29/2008
8410 Pallux Way / 04/17/2008
10183 Zapata Ave / 04/11/2008

I then checked craigslist and found this ad:
http://sandiego.craigslist.org/csd/apa/6... which included:

AVAILABLE RENTALS BEDROOMS/BATHS RENT AVAILABLE
MIRA MESA
7454 Sean Taylor, 92126 6 Bedrooms, 3baths 3600 July 1st
8171 Calle Nueva, 92126 6 Bedrooms, 3baths 3500 July 1st
10505 Dabney, 92126 5 Bedrooms, 2.5 baths 3400 September 1st
10423 Hebrides Circle, 92126 5 Bedrooms, 2 baths 2800 June 15th
10183 Zapata, 92126 6 Bedrooms, 2.5 baths 3600 June 15th
8676 Lynx Road, 92126 6 Bedrooms, 2.5 baths + swimming pool 3500 June 15th
8570 Jade Coast, 92126 4 Bedrooms, 2baths 2100 July 1st
11321 Avenida del Gato 6 Bedroom, 3 bath 3300 July 1st
10344 Brookhurst Lane 5 Bedroom, 2bath + swimming pool 2800 July 1st
8410 Pallux Way, 92126 6 Bedrooms, 2.5 baths 3500 June 15th

What I'm wondering, is how common is it in Mira Mesa for people to buy your standard 3/2 and convert them to 6/2s or 6/3s and try to rent them out for $3500 a month?

I also just thought people on here might be interested to see this.

‹ Rentals in Carmel Valley & Santaluz 11920 Handrich Dr, 92131 ›
Very nice work Dave.
Submitted by asianautica on May 9, 2008 - 1:09pm.

Very nice work Dave. There's no way in hell you can get over $3000/month rent in Mira Mesa. 2200 sq-ft house in Sorrento Valley are renting for $2700/month and 2700-2900 sq-ft house in SV are going for around $3200/month.

I am guessing this is a mini
Submitted by DWCAP on May 9, 2008 - 3:33pm.

I am guessing this is a mini dorm move. what they are doing is trying to attract the UCSD/SDSU students. 3500/6 is still only 580 a month and that is what a room in just about anywhere else in MM is gonna cost, if slightly less. So the minidorm movement is alive a well in MM.

That's true, there are many
Submitted by nostradamus on May 9, 2008 - 3:43pm.

That's true, there are many mini-dorms in those areas but I don't know whether they are students. Some of them are just people in low-paying jobs (I know several who live in these). I guess it's one way people manage to afford living in SD.

That's nice. Students
Submitted by HereWeGo on May 9, 2008 - 7:44pm.

That's nice. Students always treat "dorm" properties with such TLC.

I once lived very close to
Submitted by enron_by_the_sea on May 9, 2008 - 11:09pm.

I once lived very close to this one at 7454 Sean Taylor. It definitely does not have 6 bedrooms. (all houses on that street top out at 4bed/2100sq.ft)

It was a nice house but there are many houses rented to UCSD students on that steet. While they do make a little bit of noise on Fridays once in while, usually I found them to be a good lot.

The biggest complaint was parking. There were way too many cars parked on that street (Also people on that steet had boats, toys, hummers and garages full of junk). For visitors it was very difficult to find parking.

BobS In years past I've
Submitted by EconProf on May 10, 2008 - 5:02pm.

BobS
In years past I've rented apartments and townhouses to both UCSD students and SDSU students. I found there was a HUGE difference in renting to these two very different groups, with the latter being, ahem, difficult, and the former being just great. Sample size of about 40 SDSU students and 80 UCSD students over 8 years.