Wednesday, October 04, 2006

Downtown Condo at El Cortez #407

The El Cortez is the landmark at the very top of Cortez Hill, if you're driving on the 5 or 163 you'll notice the flashing "El Cortez" neon sign at the top of the building.

This listing is interesting as it's both the first property in the building to make in on the blog, it's another new listing in general that starts out below what the owner paid for the unit and the unit is listed below what the current owner paid the developer of the project.

Type: Listed on MLS(#066084499)

Resale Price: $379,900
Cost: $410,500

Loss@6% Sales Expenses: $53,394
Loss%: 13.01%

Purchase Date: 01/28/2005
Holding Period: 21 months and counting...

Bedrooms: 1
Bathrooms: 1
Square Feet: n/a

Purchase Details: view

4 comments:

MBAinDM said...

What I find most interesting about this building is that it was built in 1929

Sven said...

El Cortez has been in the news alot lately. The developer and the real estate agent selling the properties are both being sued for false information. I anticipate seeing more of those units in this blog.

Anonymous said...

I would never buy in that badly refurbished old building. El Cortez will become an albatross replete with contruction problems that drive condo owners to bankruptcy.

Anonymous said...

If you want to know more about El Cortez, log on to www.elcortez.info