Condos Prove To Be Great For Investors!
Although the housing market has seen its worse decline in many years. Owning a condo as an investment property has proven to be very successful in areas such as Beverly Hills , Century City & West Hollywood . Here are a few examples: In West Hollywood , a 1 bedroom at the Park Wellington , that would have sold for the mid 500k's at the height of the market was able to be leased for about $2,500 during the recent lows, as opposed to around $2,700 at the top of the market. A very small monthly loss even in the worst of times. Park Wellington A 1 bedroom in a non service West Hollywood building like Kings Villa , where a unit at its peak would have been around $350k and rented for about $1,900 per month, leased around $1,800 during the recent bottom of the market. Kings Villa The great news is you can now pick a unit up at the Park Wellington for around 450k, and around $299k at the Kings Villa . With the current rents they are quite rewarding