Yesterday, my brokerage arranged for a tour of the Vue on 5th, a new condo project nearing completion in the Bankers Hill neighborhood of San Diego. On the corner of 5th Avenue and Nutmeg Street, this is 45 unit project scheduled to be completed and ready for move in at the beginning of June. Vue on 5th won’t be the typical multi-family project. The units are all designed to take advantage of indoor-outdoor living, which is so important in Southern California. Each unit has its own private balcony with a large stacking patio door opening into the living room.
Despite the project still being under construction, almost half of the units have been sold. At the time of this writing, 22 of the 45 units have sold. There are still many great units available, so there is still time for those looking for new construction in Bankers Hill to purchase their next home.
Are you contemplating buying one of the remaining units? Well, here is a summary of what I learned to pique your interest…
Interiors of Vue on 5th
- The flooring in each unit will be a combination of wood plank flooring and 12″ x 24″ designer tile.
- Moen “Align” polished chrome plumbing fixtures are used throughout the home.
- LED recessed lights brighten the great room.
- A stackable Samsung washer and dryer is concealed in an interior closet.
- Solid core, single panel doors separate rooms.
- High speed CAT 5 phone/data wiring and RG6 cable outlets allow for quick data speeds.
Kitchens of Vue on 5th
- Stainless steel Bosch appliances make cooking and storing food enjoyable.
- Quartz slab countertops provide a sound surface for food prep and dining.
- European-style cabinetry with upgraded hardware provide clean lines to the design.
- A stainless steel single-bowl sink by Moen is accompanied by a pull-out faucet.
Baths of Vue on 5th
- Walk-in showers with free-standing soaking tubs in the master make getting ready or winding down luxurious.
- A frosted sliding barn door at the master bedroom provides an elegant transition from bedroom to bath.
- Moen “Align” polished chrome plumbing fixtures are coordinated with chrome bath hardware.
- Upgraded, designer tile has the option of two different finishes.
This may sound all well and good, but it won’t mean a thing if you can’t afford it. So let’s talk price. The smallest units range between 1,314 sf to 1,626 sf in size and $737,990 to $888,990 in price. The larger one-story units range from 1,749 sf to 1,675 sf in size and $931,990 to $1,100,990 in price. All of the one-story units have two bedrooms and most have two assigned – side-by-side – parking spaces in the garage below. Six of the units will have to make do with only one parking space.
There are five two-story penthouse units that cater to the high-end, luxury buyer. These units range in size from 2,892 sf to 3,720 sf and $1,990,990 to $2,435,990 in price.
There will of course be HOA dues at this property, which are expected to be between $577 to $703 per month, depending on the unit. The HOA due will cover the exterior maintenance and insurance, on-site concierge service, all common area landscaping, and trash service.
The estimated property tax on these units are approximately 1.1% of the purchase price. There are no known special assessments or bonds.
What do the floor plans of these units look like? Here are some schematic floor plans of all eight levels of the building starting from the ground floor all the way up to the penthouse. Note that there will be retail spaces on the ground level opening up to 5th Avenue and Nutmeg Street.
Here are a few photos taken during the photo to show you the progress.
Thank you ColRich – the developer of this project – for inviting our brokerage to tour your project. If you are reading this and are interested in learning more. I’d be happy to send you the most up-to-date information. Contact me at firstname.lastname@example.org or 619-609-0010.