South Bay’s most expensive, most mysterious property

Sitting on a one-acre lot that the listing office describes as the “highest point in Bonita,” the 9045-square-foot estate at 368 Surrey Drive is the most luxurious property currently available in any of San Diego’s South Bay neighborhoods.

The 2009-built home has seven bedrooms, eight full baths, and an eight-car detached garage with wooden doors that swing out rather than up to open, evoking images of an old-fashioned carriage house.

Other interior amenities include an elevator, a stone wine cellar with a seating area and tasting bar, a kitchen with a large center island and stone-and-brick inlaid walls, and a private theater with stadium seating for its individual leather recliners. A billiards room features a granite-topped wet bar with glass-faced beverage coolers.

Extensive work went into the finish details, including the wood-beam ceilings, “incredible” custom doors and windows, “designer paint” and wall finishes, and “unbelievable custom wrought iron” throughout the residence.

Outside, a rooftop deck offers 360-degree views, including a panorama of the downtown San Diego skyline and the Point Loma peninsula. The backyard offers several terraced patios for relaxing or entertaining surrounding the pool and spa, including a seating area around a large outdoor fireplace. A tile-roofed gazebo covers a full outdoor kitchen and second bar area, while the rest of the grounds are covered with grassy lawns and tropical plants.

The home was built for Michael A.Vogt, a commercial real estate agent and developer and longtime South Bay local. Vogt and his wife Kellie own and operate International Real Estate Development in Chula Vista. Michael’s website states that he’s been involved in the development of $200,000,000 worth of commercial and industrial property, including the 450,000-square-foot Eastlake Design District.

In 2010, however, the property fell into default over non-payment of a $2.4 million deed of trust (public records also show a $1.5 million second loan recorded against the property). After several failed attempts to sell the property, it went to foreclosure in March of 2011 and was purchased from City National Bank by O P Properties, LLC, two months later for $1,950,000.

A web search turns up several property investment companies operating under the name “O P Properties,” the nearest one in Westlake Village, California. No information could be obtained about the parties behind the O P name, and no contact data aside from the Surrey property address is available via public records.

After holding the property for a period of about 18 months, O P listed the home for sale in December of 2012 with a posted asking price of $5,950,000. No response was received from the listing agent with regard to what, if any, improvements had been made to the property to justify the asking price more than tripling from what it most recently sold for, though the photos from the home’s previous listing when it was bank-owned indicate the condition was much the same at that time.

After over 200 days on the market, the list price remains unchanged, making the Surrey Drive estate the highest-priced home in the area by more than $2 million.