Secret's Out: La Jolla Hotel

Old May 21st, 2012, 05:04 AM
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Secret's Out: La Jolla Hotel

When I had an office in the village of La Jolla - some of us lads used to take our sandwiches and walk from Prospect St - down the steps next to the La Valencia Hotel and go to the Cove for our repast. Always liked the looks of the hotel across the street but never really checked it out - and here it is on "Hotel Impossible" - tonight at 7 PM on the Travel Channel.
http://www.utsandiego.com/news/2012/...a-cove-suites/
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Old May 21st, 2012, 07:03 AM
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Wow, great show! That hotel has been there forever - you always see it when you're at the Cove, but quite frankly it always looked kinda oldish from the street. Great location though.
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Old May 21st, 2012, 08:56 AM
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It's actually on at 10pm in San Diego.


There's a lot more to the owner than just this one hotel. The family are known in San Diego for buying properties that are adjacent to their various businesses and letting them fall into disrepair. This family owns two listed bungalows next to this hotel which they seem to hope they'll be allowed to redevelop when the buildings eventually fall down.
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Old May 21st, 2012, 12:11 PM
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I haven't been in the hotel - but unless the reports were terrible - I would recommend it as a 2+ star or so place - with the one of the best views in the world.

As for those bungalows - I hope they fall down sooner than later. Some people think they have historic value - but the termites are about the only think holding up those eyesores.
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Old May 21st, 2012, 12:26 PM
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Here is the web page for anyone who is interested. And they are suites - some studio types with kitchenettes and larger.

https://gc.synxis.com/rez.aspx?Hotel...shell=LJC2012#
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Old May 21st, 2012, 01:56 PM
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Tom, they do have historic value, but as they are listed, the owners can't redevlop as they want. They knew this when they bought them, but seemed to think they could do whatever they wanted. The bungalows could have been renovated years ago and would have brought in stacks of rental money. Blame the owners for the way they look now.
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Old May 21st, 2012, 03:29 PM
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So Susan: How many old buildings have you renovated? Trying to really fix up these ancient claptraps would be like throwing money down a rat hole, and my Q:

How much rental income do you think these widdle bungalows will bring? Not much IMO, as while I have not been inside them - they are small - and probably do not have more than one bedroom.
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Old May 21st, 2012, 03:36 PM
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Tried to find some pics of these dilapated bungalows - and this is an interesting historical review of La Jolla (a "village" which I love) - even if not sure it has a pic of the subject bungalows.

http://www.sandiegohistory.org/journ...4-4Hollins.pdf
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Old May 21st, 2012, 07:58 PM
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tom, who's Susan?

Those dilapidated bungalows were not close to this bad when the current owners bought them. They have been allowed to deteriorate in an effort to force the hand of the planning commission. As vacation rentals, right at La Jolla Cove, and next to a hotel they also own,they would be outstanding.
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Old May 22nd, 2012, 06:58 AM
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I think Barbara is right on.


"The Red Roost and Red Rest cottages, built in 1894, are rare surviving examples of late nineteenth-century beach cottages that once proliferated in La Jolla and are the oldest structures there. The Red Rest and Red Roost cottages tell the story of the history and origin of La Jolla, like nothing else. The design for these bungalows is also regarded as a precursor to the California bungalow popularized after the turn of the twentieth century."

"Shortly after the cottages were designated as historic landmarks in January 1975, the Heimburge family, owners of the cottages and the adjoining La Jolla Cove Suites, sought to demolish the Red Roost and Red Rest. Failing that, the owners have instead played a waiting game, allowing the ravages of time and weather to take their toll on the cottages. The owners stopped using the cottages as rentals and ceased maintaining them, allowing vines to grow over the cottages and debris to accumulate on the roofs, leading to their dilapidated present condition. With holes in their roofs, the cottages have reached a critical stage. Most agree, however, that the cottages are not beyond repair."
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Old May 22nd, 2012, 07:24 AM
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I would imagine the Heimburge family bought the historic homes and wanted to tear them down to build what?

Another poorly managed hotel right next the one they currently own and poorly manage?
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Old May 22nd, 2012, 11:00 AM
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Geesh: My note was for Barbara - and now nanabee is a wanabee cottage preserver?

How these clapboards were designated as National Monuments should really be examined - as I wouldn't doubt some shennigans went on.

And just about anything that would have been built in place of these "cottages" would have been an improvement.

And Barbara: As far as I can tell - you still have not answered my Q: How much income would they bring in as rentals?
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Old May 22nd, 2012, 11:08 AM
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Income for these two properties as rentals?. On a prime location across the street from the world famous La Jolla Cove? Seriously, probably $2,000 A WEEK for one rental house alone. If someone remodeled them. The added advantage is that they are historically significant. In San Diego, sadly anything that has historical value is worthy of being torn down and replaced.
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Old May 22nd, 2012, 11:11 AM
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That's $16,000 a month. Without a doubt in my mind. We live down in Baja La Jolla or Birdrock (not the ritzy part) and little beach cottages rent easily for $2000/week. Easily!!
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Old May 22nd, 2012, 11:13 AM
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>>How these clapboards were designated as National Monuments should really be examined - as I wouldn't doubt some shennigans went on.>>

tom did you read the quote I posted?
this is how they received historic preservation status in case you are interested.

"The Red Roost and Red Rest cottages, built in 1894, are rare surviving examples of late nineteenth-century beach cottages that once proliferated in La Jolla and are the oldest structures there. The Red Rest and Red Roost cottages tell the story of the history and origin of La Jolla, like nothing else. The design for these bungalows is also regarded as a precursor to the California bungalow popularized after the turn of the twentieth century."
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Old May 22nd, 2012, 05:51 PM
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Tom, your "note" was for Susan-whoever that may be.
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Old May 22nd, 2012, 06:46 PM
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Geesh - you two are a pair to draw to!!!

Historical designation is many times a political gambit, pure and simple. And who cares about some California bungalow design, really.

And if you know rental property at all - you do not rent it weekly 100% of the time, except maybe during high season, dead red summer, and normally - are lucky to average more than 2 out of 4 weeks a month for the year. Plus you usually have a hefty property management fee/housekeeping expense, higher than normal maintenance on older buildings, etc.

Oh - did I manage to rehab those rattraps - it would have the cost a ton.

FYI - I have owned/been in a partnership/managed a whole bunch of income properties - and people seldom realize the net/bottom line is well below the perceived market rate.
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Old May 22nd, 2012, 06:49 PM
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Oops. Should read: Oh - did I mention.................
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Old May 22nd, 2012, 06:51 PM
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BTW - back on topic - can you please tell me more about the Travel Channel program last night on the La Jolla Cove Suites? Watched the basketball playoffs and then crashed.
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Old May 22nd, 2012, 07:17 PM
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Tom, they own the hotel next door, renting the bungalows a exorbitant nightly rates would be a breeze.
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