Comments on: Too Much House for the Neighborhood? http://blog.redfin.com/losangeles/2008/03/too_much_house_for_the_neighborhood.html Redfin Los Angeles Sweet Digs Thu, 09 Feb 2012 13:33:45 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Cindy Allen http://blog.redfin.com/losangeles/2008/03/too_much_house_for_the_neighborhood.html/comment-page-1#comment-10540 Cindy Allen Mon, 31 Mar 2008 18:34:22 +0000 http://blog.redfin.com/losangeles/2008/03/too_much_house_for_the_neighborhood.html#comment-10540 Hi, RE_Investor: I live in the neighborhood, and two-bedrooms run between $2,300 and $3,200 per month, depending on how fixed up it is. I don't think that duplex was a stupendous deal, but it was an OK deal. I think there will be better deals in the next year or so. Redfin doesn't list big apartment buildings, but it does list multiunit buildings of up to eight units or so, at least in the areas I cover (BevHills, Westwood and Hollywood). Thanks for commenting! Hi, RE_Investor: I live in the neighborhood, and two-bedrooms run between $2,300 and $3,200 per month, depending on how fixed up it is. I don’t think that duplex was a stupendous deal, but it was an OK deal. I think there will be better deals in the next year or so.

Redfin doesn’t list big apartment buildings, but it does list multiunit buildings of up to eight units or so, at least in the areas I cover (BevHills, Westwood and Hollywood).

Thanks for commenting!

]]> By: RE_Investor http://blog.redfin.com/losangeles/2008/03/too_much_house_for_the_neighborhood.html/comment-page-1#comment-10533 RE_Investor Mon, 31 Mar 2008 16:44:08 +0000 http://blog.redfin.com/losangeles/2008/03/too_much_house_for_the_neighborhood.html#comment-10533 The duplex for $873,325, assuming the buyer put down 20% (about $175k cash) and financed at 6% 30-year fixed, would put the monthly carrying cost at about $5400 PITI. I don't think you can rent each of those units at $2700 a month. And that's not counting repairs and maintenance. He can probably break even with an exotic mortgage. In that case he's betting the market will recover before his costs go up. Whether he's lucky or not remains to be seen. Has Redfin started to list multifamily units? The duplex for $873,325, assuming the buyer put down 20% (about $175k cash) and financed at 6% 30-year fixed, would put the monthly carrying cost at about $5400 PITI. I don’t think you can rent each of those units at $2700 a month. And that’s not counting repairs and maintenance. He can probably break even with an exotic mortgage. In that case he’s betting the market will recover before his costs go up. Whether he’s lucky or not remains to be seen.

Has Redfin started to list multifamily units?

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