The Lund Team Real Estate Blog

Looking to live by the beach, west of I-5, no homeowner or Mello Roos fees?   Want to live in an area where all the homes don’t look identical?   You will like South “O” or South Oceanside; located adjacent to Carlsbad along the Buena Vista Lagoon, south of Oceanside Blvd all the way to the Pacific Ocean.

Built in the 40’s – early 50’s these homes are often situated on larger lots; many near 10,000 sq. ft.   A big differnce from the 4000 sq. ft. “box” homes of today’ builders.  These homes are primarily single level (also rare), 2 to 3 bedroom.  

Average selling prices are down 45% off the peek with the average detached, fixer home selling in the $300-$400k range.  South O’ is an area to keep on the appreciation radar.
Something to consider: a number of South O’ homes are built with raised foundations (superior to slab construction in many ways), hardwood floors and plaster walls (better insulation than drywall).  Simple enhancements such as dual pained windows, updated fixtures and hardware are easy fixes to add value.

But the real winning ticket:  Income 

Locate a South “O” home and add a helper unit, granny flat, assessor unit (all one in the same).  Check with the city and simply following lot line setbacks, having 2 car parking for main house and 1 for granny flat, right amount of house to land coverage and your ready to go.

Many of these South “O” home can add 400 square feet above a standard 2 car garage and see income of over $1000 per month. That’s huge. This additional income could help pay your mortgage and if you sell down the road, you can expect additional resale dollars. Even properties with R-1 zoning can participate with these accessory units due to California law. Please check with all city and state regulations and get you contractor lined up.

Bonus:  Contractors are often times taking jobs at 40% the going rate of ‘05-’06.  Its an excellent time to utilize their talents. You’re money is not doing much at 1% in the bank.

Contact Garrett@lundteam.com or call 760.438.0800 for additional information.

*Picture attached is inside of actual South “O” studio / granny flat renting for over $1000 per month*

Inside Studio