We got a condo!
Goodbye laundromat! That's right, rowneet are in escrow for a condo right now, and we're hoping to close by the end of June!
Quick stats: 3 bedrooms, 2 baths, 1350 square feet. Brand-new complex (2006 - 2007) with ~160 units and retail space. Underground parking, washer/dryer hookup, hardwood floors (carpet in bedrooms), walk-in closets.
Location: We're right next to the Lincoln Heights / Cypress Park station on the Gold Line (light rail), at the intersection of the 5 and 110 freeways, two miles north of downtown L.A. I'll be taking advantage of a vanpool to commute to Santa Monica during off-peak hours - during rush hour it's one of the worst commutes in L.A. Luckily for nearly everwhere else we'd want to go it's amazingly centrally located. [Google Maps]
We'd optimistically describe the neighborhood as "up and coming". If it weren't for this building and the metro station, I'd say it's not a very nice place to live, despite its fantastic central location. The only restaurants we can walk to are McDonalds, IHOP, and about 29 greasy taco stands. But the metro station and the brand-new condos and apartments that have been built in the last few years represent a very serious investment in the neighborhood by the city of L.A., and we're betting that it will pay off - hopefully turning it into a beautiful neighborhood over time and also making it a great investment for us.
The disparity between the condo and the surrounding neighborhood has made appraising its value very tricky. We made an offer on a different unit before finally getting this one, and we disagreed with those first owners about the fair value by quite a bit. The official appraisal will come in on Monday, we're a little apprehensive.
Just for fun, we have a video tour of the empty condo we made, mostly for our parents. I had fun with the special effects in iMovie.
If all goes well (cross your fingers for us) the housewarming will be in mid-July.
Quick stats: 3 bedrooms, 2 baths, 1350 square feet. Brand-new complex (2006 - 2007) with ~160 units and retail space. Underground parking, washer/dryer hookup, hardwood floors (carpet in bedrooms), walk-in closets.
Location: We're right next to the Lincoln Heights / Cypress Park station on the Gold Line (light rail), at the intersection of the 5 and 110 freeways, two miles north of downtown L.A. I'll be taking advantage of a vanpool to commute to Santa Monica during off-peak hours - during rush hour it's one of the worst commutes in L.A. Luckily for nearly everwhere else we'd want to go it's amazingly centrally located. [Google Maps]
We'd optimistically describe the neighborhood as "up and coming". If it weren't for this building and the metro station, I'd say it's not a very nice place to live, despite its fantastic central location. The only restaurants we can walk to are McDonalds, IHOP, and about 29 greasy taco stands. But the metro station and the brand-new condos and apartments that have been built in the last few years represent a very serious investment in the neighborhood by the city of L.A., and we're betting that it will pay off - hopefully turning it into a beautiful neighborhood over time and also making it a great investment for us.
The disparity between the condo and the surrounding neighborhood has made appraising its value very tricky. We made an offer on a different unit before finally getting this one, and we disagreed with those first owners about the fair value by quite a bit. The official appraisal will come in on Monday, we're a little apprehensive.
Just for fun, we have a video tour of the empty condo we made, mostly for our parents. I had fun with the special effects in iMovie.
Click to viewIf all goes well (cross your fingers for us) the housewarming will be in mid-July.