Pacific Heights in Seaside
Thursday, January 8, 2004
True, there are no shops in the condo complex itself, but the mature landscaping, neatly maintained structures, and quiet streets make it feel like a city within a city.
On a Tuesday morning outside of 1056 Olympic Lane, the only sounds come from the small birds singing in the trees, geese flying by, and the faint sounds of a neighbor’s classical music playing.
“A lot of retired folks live here,” says Realtor Jeffrey Segal. “It’s always really quiet. A lot of people don’t know it’s here.”
The three-bedroom, two-bathroom condo for sale at Olympic Lane may soon be gone: it’s been the beneficiary of bidding wars that have raised the initial asking price of $450,000 to $465,000.
“When these condos go on the market, they tend to go into escrow,” says Segal. “Right now we are sending out multiple counter-offers.”
Part of the desirability of this particular unit, Segal says, is the fact that of the 102 condos in the neighborhood, this is one of only 20 that is completely detached from its neighbors.
“The advantage is that light comes in from all sides,” he says.
“One of the biggest points of this condo,” he adds, “is if you look at condos across the county, most don’t have a lot of storage. This one has a really good-sized, 2 1/2 car garage.”
Some other desirable features of the condo are the two second-story decks: the condo is accessed up a set of stairs that leads to the first deck and the front door. The first deck is also accessed by a set of French doors from one of the three bedrooms.
The second deck is accessed from both the kitchen and the living room. From both decks, the hills of Monterey and glimpses of the Bay can be seen. A small patio in the back of the house provides views of the hills above and is ideal for container plantings.
“I think this kind of property is going to get more and more popular as the population ages,” Segal says. “With less to take care of this works really well for retirees, people who travel a lot, or people who use it as a second home.”
Segal also explains that the price of the condo, considered to fit in the low to medium category of Peninsula prices, creates “an intense amount of competition between buyers.”
“Upper Seaside is a very desirable neighborhood, and it’s a fairly common thing for properties in this price range to [inspire] overbidding. After the drop in interest rates, it’s been a wild ride ever since.”
Price: $465,000. Homeowners Association Dues: $228/month. 1056 Olympic Lane, Seaside. Contact Jeffrey Segal of Segal Real Estate at 422-8864.