Wednesday, August 4, 2010

How About a 50% Haircut?

455 East OCEAN Blvd #1104, Long Beach, CA 90802
Beds: 1
Baths: 1
Sq. Ft.: 664
$/Sq. Ft.: $248
Year Built: 1923
Community: Downtown Area/Alamitos Beach
County: Los Angeles
MLS#: P728984
On Redfin: 123 days
Description: Adorable 1 bed 1 bath condo on the 11 floor really cute kitchen, lots of storage, well laid out floor plan for the sq. footage, light and bright, shared balcony with a view of the Marina and the water. Located on the west side of the building overlooking the courtyard and the fountain. MUST SEE!

Ready for the money shot?

Purchase Price (9/2005): $330,000
Current Asking Price: $165,000

Loss Assuming Sale: $165,000


And considering the HOA fine is $300 per month and there's no parking, it would need another 50% reduction before I'd consider it.


  1. Dave in Alamitos BeachWednesday, August 04, 2010

    I was thinking the same thing. I'd move into a place like this if I was downsizing and had given up driving, i.e. I was about 75 years old.

    So, they'd have to take a small dog, and I'd have to feel safe in the neighborhood, and it would have to be not too noisy, and kinda wheelchair friendly - well, you get my point. It's a special type of person that would move in here.

    I think this apartment is worth about 75K. Anyone with me?

  2. I doubt if the level of "quiet" would be tolerable since it's *right on* Ocean Blvd in a busy area.
    I imagine Friday nights there would be Hell....

  3. Dave in Alamitos BeachWednesday, August 04, 2010

    Yes, but at age 75, I plan to lose my hearing. ;-)

  4. Well since there's no pics, hard to judge it's value...

    And if there's no parking, that's a HUGE negative.

    So for only 664 square feet, and a ridiculous HOA of 300 bucks, 75K sounds about right.