The Lofts at 777 6th Avenue was a rental project that was converted into condos. This is another apartment conversion project that is likely to have a majority of the units worth less than what the current owners paid. There are four units current listed for sale at losses noted below:
Unit #411
Type: Listed on MLS(#076058976)
List Price: $409,000
(Range priced $389,000 to $429,000)
Cost: $438,990
Loss@6% Sales Expenses: $54,530
Loss%: 12.42%
Purchase Date: 10/27/2006
Holding Period: 9 months and counting...
Bedrooms: 1
Bathrooms: 1
Square Feet: 749
Purchase Details: view
Unit #207
Type: Listed on MLS(#076050300)
List Price: $387,000
(Range priced $379,000 to $395,000)
Cost: $441,000
Loss@6% Sales Expenses: $77,220
Loss%: 17.51%
Purchase Date: 10/12/2006
Holding Period: 9 months and counting...
Bedrooms: 1
Bathrooms: 1
Square Feet: 725
Purchase Details: view
Unit #415
Type: Listed on MLS(#076054817)
List Price: $412,000
(Range priced $399,000 to $425,000)
Cost: $486,000
Loss@6% Sales Expenses: $98,720
Loss%: 20.31%
Purchase Date: 10/04/2006
Holding Period: 9 months and counting...
Bedrooms: 1
Bathrooms: 1
Purchase Details: view
Unit #205
Type: Listed on MLS(#076058984)
List Price: $389,000
(Range priced $379,000 to $399,000)
Cost: $441,000
Loss@6% Sales Expenses: $75,340
Loss%: 17.08%
Purchase Date: 10/02/2006
Holding Period: 9 months and counting...
Bedrooms: 1
Bathrooms: 1
Square Feet: 725
Purchase Details: view
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4 comments:
1 Bed, 1 Bath units for prices around $400K. Amazing. They're in for a rude awakening.
Awakening??? I really doubt you could even get any sleep down there in one of those lofts unless you close all windows and turn on the AC. It's definitely noisy down there.
It's noisy most places in the downtown area, be it from airplanes or Gaslamp revelers. If you want quiet, move to the suburbs.
Damn, I thought the $54,530 was the price. At that point a condo downtown, or rather under the flight approach might be worth it.
Josh
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