Thursday, February 15, 2007

Downtown Condo at Village Walk #305

Village Walk is located in the heart of Little Italy on India Street. We've seen a number of units there list for sale for less than last purchase price. The last time this unit changed hands was back in the summer of 2004.

Type: Listed on MLS(#076010001)

List Price: $629,000

Cost: $675,000
Loss@6% Sales Expenses: $83,740
Loss%: 12.41%

Purchase Date: 08/24/2004
Holding Period: 30 months and counting...

Bedrooms: 2
Bathrooms: 2.5
Square Feet: 1260

Purchase Details: view


Anonymous said...

MLS# 076012885
425 W. BEECH #1352, SD - Downtown, CA 92101**

That's another one to add to your blob. Bought for $375 and now selling for $349k

Anonymous said...

Mr. B, I love your blog.

Personal question for you. What are your favorite developments downtown?

1) Based on value for the money.
2) If value for money is not really a consideration. Lifestyle and enjoyment are more important.

Mr. Brightside said...

Hi Anon,

Thanks for the positive feedback.

Regarding your questions I think everyone is different so one size doesn't fit all but the best value for the money is probably on Cortez Hill, Discovery in particular. The HOA is a tad high however. Also I actually think Union Square has some really nice units at a relative bargain. The neighborhood isn't that great although I personally don't have a problem walking through it. I actually have a drink once in awhile at Jewel Box and Landlord Jims which are as east as East Village gets. Smart Corner is a nice project in that neighborhood so price dependent I would consider that as well (a non-Trolley side unit only). I'm not as attracted to the Ballpark area projects although again some people may really like it there.

From a money is no object point of view I'd probably want to be close to Little Italy in a Bosa Building, the Grande, Electra and Bayside are all very nice (or will be) buildings. The Columbia District is going to be very nice with all the development that's coming there, this also makes Treo interesting from a value point of view as prices continue to decline you might want to keep an eye on that project as well.

On top of the above I'd be wary of paying a large premium for a view or listening to any advice that says the view is protected as very little is protected.