This is a huge loss from the high water mark set in the summer of 2004. Based on the new listing price and the original developer price this property is likely valued at mid to late 2004 prices. I also know that this unit was vacant for probably two years so the "all in" loss on this property is quite substantial. I do think this is a good example of once underutilized "portfolio" property that wasn't being used now coming back to the market.
The question is how many properties like this are out there?
Type: Listed on MLS(#071081723)
List Price: $524,900
Loss@6% Sales Expenses: $205,594
Purchase Date: 07/28/2004
Holding Period: 39 months and counting...
Square Feet: 1329
Purchase Details: view