New Listing - Sheridan Place Plan 3 Condo in West Irvine (40 Ardmore)

[Ready2Downsize]

@usc what is the comp rental rate for this place?

Most recent rental comp for this floor plan was $3,200/mo.  Going back a little over a year, rental comps have ranged from $3,000/mo to $3,200/mo.

Just curious on what it would rent for if it were in the IUSD.

 

[usctrojancpa]

@usc what is the comp rental rate for this place?

Most recent rental comp for this floor plan was $3,200/mo.  Going back a little over a year, rental comps have ranged from $3,000/mo to $3,200/mo.

Just curious on what it would rent for if it were in the IUSD.

Maybe for $50/month more.  I helped a client of mine buy the same exact floor over at Northwood Pointe so I've run the rental comps for him.

 

[usctrojancpa]

Pretty big yard relative to most new construction today. Surprisingly low HOA's (2) given the normal expense of a gated community.

My 02c

SGIP

Yeah, both HOAs and the Mello Roos are around $285/mo...that's lower than just the HOA on most newer attached properties in Irvine which are north of $300/mo month.  That's why I was interested in buying it for myself but alas too many loans.  Two of the offers are from renters in the same tract, which is very interesting.

 

[irvinebullhousing]

Good for seller with multi bids for the house. I was tempted but did not want to get into a bidding war. Clearly the renters whom interested is more deserving since this is going to be their primary residence, rather than investor. Good for all. Congrat on the quick offers.

 

[usctrojancpa]

Good for seller with multi bids for the house. I was tempted but did not want to get into a bidding war. Clearly the renters whom interested is more deserving since this is going to be their primary residence, rather than investor. Good for all. Congrat on the quick offers.

Actually one of the neighbors who owned the same exact floor plan came by and said that he might be looking to sell next year.  So obviously if I can get a good sales price on this listing, I'll have a good chance at getting that listing and can give you a heads up. 

 

[usctrojancpa]

So after negotiating some smaller, finer points with the top buyer we opened up escrow last week. 

 

[usctrojancpa]

Got a call from escrow that the loan funded and we are set to close/record today.  The sales price is $685,000 which is an all-time record closing price, surpassing the 2006 high, for this floor plan.  Congrats to both the buyer and seller.  For the record, I also represented the buyer.