Loss leaders: August 2011 Archives
A long, long time ago, in a galaxy close by, a cute Victorian fourplex on Central tried to sell itself at the strongly cash-flow-negative price of $749,000. Three years later, it's back at a much more down-to-earth price of $599,000.
The price history is a lesson in what not to do when buying property.
The price history is a lesson in what not to do when buying property.
Dan Neumansky beat me to it. 1304 Morton, which sold (with great difficulty) not that long ago, got a high-tech studio makeover, and tried to sell itself even more recently, just massively slashed its price from $1,329,000 to $899,999.
So one assumes the new owner may be taking it with him, which should help with the price drop. Some research I did (no links to respect his privacy) suggests he's a big-shot music producer, and so he'll find something to do with it.
The new description doesn't mention the studio:
Rare Painted Lady Victorian, Sumptous Eastlake period Decor, like a page out of BETTER HOMES & GARDENS MAGAZINE! Was on the market at $1.3M+ now priced 4 quick sale! TURN-KEY condition!All systems upgraded. Tenant spent $$$ & converted full basemnt/gar 2 Art Deco game rm/wine cellar/home theater. Gourmet Remod kitchen w/ sub zero fridge & viking stove. Walk 2 shops, park & Franklin School.
So one assumes the new owner may be taking it with him, which should help with the price drop. Some research I did (no links to respect his privacy) suggests he's a big-shot music producer, and so he'll find something to do with it.
Miscellaneous