Sunday, February 11, 2007

Downtown Condo at El Cortez #506

The El Cortez is located on the top of Cortez Hill. It started as a hotel, turned into apartments about six years ago and then was converted to condominums near the very top of the market.

In my view this unit is still overpriced.

Type: Listed on MLS(#076010236)

List Price: $500,000

Cost: $520,000
Loss@6% Sales Expenses: $50,000
Loss%: 9.62%

Purchase Date: 10/28/2004
Holding Period: 28 months and counting...

Bedrooms: 2
Bathrooms: 2
Square Feet: 1120

Purchase Details: view

5 comments:

Anonymous said...

The MLS listing has no pictures of the interior. I wonder why. Perhaps the interior is not so photogenic?

Anonymous said...

It would take a pretty large price cut before I would ever buy a unit in this building.

Anonymous said...

The pictures of the patio and pool behind the El Cortez don't belong to the condo owners. That part of the block was split off during condo conversion. There is a proposal to build an 18 story condominium where the pool is. See www.elcortez.info for more information.

Anonymous said...
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