Monthly Archives: August 2015

Spotlight on: San Clemente Outlet Mall — Grand Opening November 2015

If you’ve taken the 5 freeway through San Clemente, you’ve seen the large construction project underway around the Avenida Pico exit. That project is the highly-anticipated San Clemente outlet mall.

SC outlet mall

It’s actually not just an outlet mall. It will have traditional retail stores, too. And restaurants! In total, there will be about 120 stores, including big-name brands like Nike, Calvin Klein, H&M, and Guess, and 12 restaurants/dining locations. The grand opening is planned for November. Some 45 stores and restaurants will be operational by that time, with the rest rolling out later this year and in 2016. The mall will include amenities that the Carlsbad outlets and Fashion Island do not offer, like a VIP loyalty shopper program with a members-only lounge, valet parking, complimentary Wi-Fi, a baggage check, and stroller/wheelchair rentals.

As a local resident, I have one concern: Traffic. As a realtor, I’m curious to see how this affects the local housing market. No matter what, it’s going to be a beautiful establishment. The center is part of the 249-acre Marblehead Coastal development that consists of 313 homes, the mall, hiking trails, parks, and a habitat preserve. If you haven’t had a chance to check out the Sea Summit trails yet, I highly recommend it. They are right next to the mall and overlook the ocean.

Personally, I’m cautiously (yet optimistically) looking forward to the completion of this project. I think it will be good for the area, overall. Construction alone has created 1,000 jobs, and they’re predicting that 1,000 more permanent jobs will be created when the center opens. Many experts are saying there will be an increase in domestic and international tourism in 2016, and this center will definitely make San Clemente an even more desirable destination.

It remains to be seen how much freeway congestion the new mall creates. This section of the I-5 is already very packed, with 219,000 cars traveling along past the mall every day. Thankfully, they are making some improvements to the freeway (more on that next week).

The San Clemente outlet mall by the numbers:

  • 500,000: Square feet in total, the initial opening will be more than 325,000 square feet
  • 120: Stores total
  • 12: Restaurants and dining locations
  • 3,339: Total parking spaces
  • 420: Length of foot bridge crossing the canyon

 

25131 Terrace Lantern

This week’s listing is in the heart of Dana Point’s coveted Lantern District. The price was reduced recently so it won’t last long.

25131 Terrace Lantern
2 bed, 2 bath
1,062 square feet
$435,000

home 1 home 2

Here’s why I think this is a great buy:

  • Location, location, location: It’s walking distance to the recently renovated Lantern District, Doheny State Beach, and Dana Point Harbor. There aren’t many homes that are truly walking distance to all those amenities
  • With Harbor renovations starting soon, this area is going to be even more desirable for full-time residents and renters alike
  • Because this area is so desirable, the inventory is low. You won’t see many properties come up for sale
  • The price per square foot ($409.60) is relatively low compared to other units that have sold in the past year
  • The unit has private decks on both floors and private, covered parking for 2 cars (this is great because parking in this area will get tougher as the renovations continue and more people visit)
  • HOAs are steep ($449), BUT they include cable TV (this is rare), water, sewer, and trash
  • The inside needs some updating, but I see that as an opportunity to make this place your own. The location can’t be beat, so it’s all about focusing on renovating to your taste
  • If you’re an investor, the projected rent for this unit would be about $2,300, which should more than cover mortgage and other expenses

Want to check it out? Contact me today.

17 Son Bon

This week’s listing is in central Laguna Niguel. The current owners have it as a rental, so it’s a great property for an investor. It’s also a great property for a family looking to establish themselves in a solid, family-oriented community.

17 Son Bon
3 bed, 2 bath
1,737 square feet
$679,900

home 1 home 2

Here’s why I think this is a great buy:

  • It’s been on the market for 3 months, so the sellers are probably antsy to find a buyer
  • The price was just reduced YESTERDAY from $715,000 to $649,900
  • The price per square foot is under $400. Homes in this area have been selling in the  range of $425/square foot over the past year
  • I grew up down the street and can confirm that the local schools are top-notch: George White Elementary School, Niguel Hills Middle School, and Dana Hills High School are all rated 9
  • It’s close to lots of shopping, parks, and trails. The beach is only 15 minutes away

Want to check it out? Contact me today.

33856 Diana Drive

This week’s listing is in Dana Point’s Lantern Village, which has become even more desirable now that the City’s downtown revitalization project approaches completion.

33856 Diana Drive
3 bed, 2 bath
2,560 square feet
$979,000

home 1 home 2

 

Here’s why I think this is a great buy:

  • It’s walking distance to the revitalized Lantern District, with lots of shops and restaurants
  • It’s minutes from famous Doheny Beach and the Dana Point Harbor
  • You get an ocean view from both the front and rear decks
  • The price per square foot ($382) is far below the average over the past year for this area ($450+)
  • The property has an extended driveway, a 2-car garage, and decently-sized backyard area, offering a little bit of privacy in an otherwise densely populated area
  • The inside is bright and clean with a coastal feel. You may want to renovate to suit your taste, but there’s no reason you can’t move right in

Want to check it out? Contact me today.

 

2501 S. El Camino Real, #119

This week’s listing is in the Ocean Fairways Complex of San Clemente. It’s great for an investor (60 units in this complex are rentals), or for a first-time buyer looking to get into this area for less than $400K.

2501 S. El Camino Real, Unit #119
2 bed, 2 bath
1,325 square feet
$389,000

house 1 house 2 house 3

Here’s why I think this is a great buy:

  • Location: It’s so close to the San Clemente Municipal Golf Course that you have a direct view of hole 6. Plus, you’re close to local beaches (including world-famous Trestles) and downtown San Clemente with all its shops and restaurants
  • At $293/square foot, this property is a better deal than similar properties in other parts of San Clemente
  • Another unit in this complex sold for $400,000 last month–and it wasn’t quite as nicely renovated as this one
  • An investor could turn a small monthly profit: If you put down 20%, your mortgage plus HOA ($325) would come to about $1900/month. The unit should rent for at least $2000/month

Want to check it out? Contact me today.