$1500 / 1br - 742ft² - BEAUTIFUL CONDO AT MIDTOWN LOFTS (Uptown, Mpls)
Colfax Ave S at 29th St
1BR / 1Ba 742ft2 condo
w/d in unit attached garage
In addition to paying down your mortgage, even the most pessimistic market experts are predicting significant appreciation for all housing over the next five years. If you have decent credit and a minimal down payment (3-5%), please contact me and I'll show you how your net worth will very likely be $50,000+ higher in five years if you buy this condo instead of renting something similar in the area. I am a local real estate agent and this is no exaggeration. It's just basic math. We're in an unusual market where buying is cheaper than renting in many cases, and this is one of them. I've had *numerous* pure investors contact me wanting to purchase this condo and rent it out.
The problem for the investors is the association at Midtown Lofts has a restrictive rental policy because it has always been intended to be an owner-occupied development (which is part of what makes it such a great development.) So it's not a good fit if you don't intend to be an owner-occupant. (The association does allow rentals in the case of a job relocation, sabbatical, etc, as long you intend to return to be an owner after a period of time.) If you're looking for a high-quality, low-cost condo to live in for a few years, this has a very high chance of being a much, much better investment than renting. Again, if you contact me, I'll send you a spreadsheet with my assumptions and numbers, and you can decide for yourself. This is NOT my attempt to pick up clients or build a marketing list. I'm selling this condo for my client and I can't believe how many people are choosing to rent instead of buying this very comparable condo so I decided to try posting this here.
Midtown Lofts has a mature, well-run association in excellent financial condition. It has won numerous prestigious awards for design & site planning. This is a rare opportunity to get into the development under $200k. This is the most affordable floorplan at Midtown Lofts, and out of 72 units there are only 4 of these. Your own heated, secure underground parking stall (#106) is included in the price.
Search criteria: Elan Track 29 Blue Flux Lime Uptown Lake Apartments Lake Calhoun Lake of the Isles KMS Calhoun Be Midtown Greenway LynLake Buzza Uptown Square
Posting ID: 4151988885