Condos Prove To Be Great For Investors!

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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 to own.  The market is stabilizing and the rental market is increasing do to lack of inventory. One more bonus for investors.

Other areas like Beverly Hills have maintained their rental rates as well.  A million dollar condo will get you around 5-6k a month.  A unit in Century City for around $650k would return about $3,500 a month.  Not to mention, owning an investment property in some of the best parts of the country are great for ones portfolio.

If you have been considering a real estate grab and hold opportunity and condo "or two" might just be a great option for you!

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