June 23, 2008
40-Unit Apartment Building for sale in The High Desert
In spite of the downturn in the real estate market, I’ve decided to sell a 40-unit building that I own in Adelanto, California. I have priced this property at $3,390,000 for a quick sale.
Like the 2 other buildings that I posted here before (One of which sold and closed), I do not necessarily expect some Grow-a-brain reader to be the ultimate investor of this local Inland Empire building, but I'd like to offer a deal similar to the ones I did before to the many real estate bloggers (and other webmasters) who read this site: If you’re able to generate a buyer for this property, I will pay you $10,000 referral fee, at close of escrow. So please spread the word among your prospects. (And call me to receive a written, protected arrangement if you have an actual candidate looking to take advantage of today's ideal market conditions).
Here are some details regarding the subject:
The Hyde Park Apartments on 18400 Montezuma Ave, Adelanto, 92301.
Price: $3,390,000
Down payment: $ 847,500 (25%)
New financing of $2,542,500 at 10 years fixed, possibly at 6.6% interest, $13,983 per month
Gross Scheduled Rental Income: $26,600/monthly $321,600 Annually
Allowance for Vacancies & Credit Losses (3%) $ 9,648
Gross Scheduled Income $311,952
Operating Expense allowance (27%) $86,328
Net Operating Income Estimates $225,853
Current rents are 16 1/1 bedrooms @ $ 595/mo. = $ 9,520/mnth
24 2/1 bedrooms @ $ 695/mo. = $16,680/mnth
Laundry Income/mo. $ 600
Total Rents $26,800/mo. $321,600/yr.
GROSS RENT MULTIPLIER on actual rents: 10.54 Gross
CAP RATE on actual income & expense: 6.66%
This beautiful property consists of a 40-Unit Apartment project, with a good mix of 24 X 2-Bedroom /1 Bath and 16 X 1-Bedroom/1 Bath units, on a spacious 4.08 acre lot. Security gated 1-story frame and stucco construction throughout. The buildings all have pitched, shingle roofing. The project has 2 Laundry facilities, and 40 car ports, plus more parking. It was built in 1984. It is well cared-for by two trained, professional on-site managers who are dedicated to the tenants’ well-being, as well as the owner’s profitability. It’s been a good property to own, and it may continue to pay out to the next owner.
Adelanto is a small, desert city in San Bernardino County, California about 9 miles northwest of Victorville. It had been experiencing tremendous building boom in the last few years, which is expected to keep growing. A few months ago, there was a story in the LA-Times, about an unusual, new Buddhist Meditation Center that is being built now outside Adelanto, in the middle of the desert. It is being built less than 2 miles north of the apartment building, right north on the I-395.
Please share this information with your qualified prospects. Email me at realhanan (at) yahoo (dot) com, or call me on my cell for more details.
See you in escrow.
For other properties listed by my company, Census Realty See here
June 23, 2008 in Real estate, Riverside & Corona - California | Permalink | Comments (13) | TrackBack
June 14, 2008
Foreclosure Bus Tours
A little over two years ago, when Donald Trump listed Maison de L'Amitié in Palm Beach, Fla., for $125 million, it was a sign of the times. Real estate prices were on the rise, and even though it was $50 million more than the next-highest listing, there was a sense that Trump would get his price. After all, everyone else in America was getting his.
Once again, Maison de L'Amitié points to the state of the housing market. In March, Trump knocked $25 million off the price, the biggest discount ever for a single residence not related to bankruptcy proceedings. But that hasn't pulled other sellers off the $100 million-plus ledge. America's Most Expensive Homes
On the other side of the scale: Welcome to Foreclosure Bus Tours
Chart of Pompous Prognosticators: Quotes from 1929
A Huge Depository of Unusual Real Estate Stories Here
June 14, 2008 in Real estate | Permalink | Comments (2) | TrackBack
May 01, 2008
What $2 Billion Buys In Homes Worldwide
Like many families with the means to do so, the Ambanis wanted to build a custom home. They consulted with architecture firms Perkins + Will and Hirsch Bedner Associates, the designers behind the Mandarin Oriental, based in Dallas and Los Angeles, respectively. Plans were then drawn up for what will be the world's largest and most expensive home: a 27-story skyscraper in downtown Mumbai with a cost nearing $2 billion. The architects and designers are creating as they go, altering floor plans, design elements and concepts as the building is constructed
Inside The World's First Billion-Dollar Home
Unrelated: Sounds that fish make
A Huge Depository of Unusual Real Estate Stories Here
May 1, 2008 in Real estate | Permalink | Comments (4) | TrackBack
April 11, 2008
Denver Foreclosures
Lenders foreclosed on about 7,700 homes in Denver last year; officials expect 11,000 this year, mirroring a national increase. Among the neighborhoods hardest hit was this corner of the Green Valley Ranch subdivision. The map shows foreclosures since late 2006. One Hard Hit Neighborhood At A Glance
Père Lachaise Cemetery from the air
Wolfgangs settlement, Landshut and other aerial photographs by Klaus Leidorf
Upside-Down House in Poland, one of 13 Crazy Houses
Unrelated: World’s biggest lobster
(Photo above from Richard and Jo's Australian Big Things)
A Huge Depository of Unusual Real Estate Stories Here
April 11, 2008 in Real estate | Permalink | Comments (8) | TrackBack
April 01, 2008
Map of Misery
The Subprime Primer, a 45-slide presentation
From the densely populated regions appear, the skyscrapers of the city behind you! In this 2008 show GEO-Kalender GEO-Fotografen houses in great nature, the dream of living and freedom symbolizing. Houses with a View
Re-post: Monopoly is a game of luck, strategy, and people skills. No strategy will guarantee you a win; that's one of the reasons Monopoly is so interesting. In any given game, a newcomer can beat a lifetime champion. Still, there are a few strategic tips that came out of the computer simulations that will help you best play the odds: you may not win any given game, but in the long run, you'll come out ahead. How to Win at Monopoly - a Surefire Strategy
Un-related: Large Hadron Collider (LHC) - We’re all going to die
A Huge Depository of Unusual Real Estate Stories Here
April 1, 2008 in Real estate | Permalink | Comments (4) | TrackBack
February 28, 2008
Advice for real estate agents
Seth Godin’s best advice to real estate agents: Plan A - Quit being an agent. Get a job doing something else.
The Real Estate Business Is Content, Not Home Selling
Connect Realty, a new real estate / multi-level marketing company
Say you're a real estate investor. Say an airport in the New York region is expanding to become a major hub. What would you do? What would you buy?
A Huge Depository of Unusual Real Estate Stories Here
February 28, 2008 in Real estate | Permalink | Comments (3) | TrackBack
February 18, 2008
Closet space
"And wait till you see all the closet space!": An estate agent who took a prospective buyer to view a house in central England found the owner hanging dead in a closet
Sign on the First American Title Company building
Dignity Village, a shanty town in Portland, OR was founded by 8 homeless people. Since then, its 60 or so residents have created their own self-regulating mini-city with help from the surrounding community. (From Deputy Dog)
What $1 Million Buys In Homes Across The U.S.
A Huge Depository of Unusual Real Estate Stories Here
February 18, 2008 in Real estate | Permalink | Comments (0) | TrackBack
February 10, 2008
A series of serious questions to the real estate brokers (and agents) who read this blog
Now that the real estate market had slowed into a dramatic slump - some may say ‘bust’ - how do you cope?
Where is your current business coming from?
What do you do differently?
How do you deal with your lender's new policies?
Have you been actually closing foreclosures & short sales? - How many?
How do you find them?
Where do you see the market in the next 12 months… 24 months?
How will you survive?
Where do you find hope?
Please share -
A Huge Depository of Unusual Real Estate Stories Here
February 10, 2008 in Real estate | Permalink | Comments (38) | TrackBack
February 06, 2008
House of Bling
What a Llosa! Top 3 Cheesiest Realtor Business Cards
The 8 houses of bling
Sarina McDonald, "The Real Estate Diva", stars in a reality show called “Wife Swap”
Foxtons Realtors® list over 10,000 homes for sale each year across New Jersey and New York. These are but a few.... This Week On Foxton Realtors®: Television Sets
Confessions of a Mortgage Broker
(Pix above from John's Blog)
A Huge Depository of Unusual Real Estate Stories Here
February 6, 2008 in Real estate | Permalink | Comments (0) | TrackBack
January 01, 2008
100 things we didn't know last year
…and the Nominees for Sexiest Realtor in San Francisco are…
Top 10 Worst Realtor Photos. (From Presurfer)
Have you ever stopped to think of what would happen to Your House Without You? In The World Without You, Weisman explains how our massive infrastructure would collapse and finally vanish without human presence; what of our everyday stuff may become immortalized as fossils; how copper pipes and wiring would be crushed into mere seams of reddish rock; why some of our earliest buildings might be the last architecture left; and how plastic, bronze sculpture, radio waves, and some man-made molecules may be our most lasting gifts to the universe
A new three-bedroom house must have at least 38 plug sockets - One of the 100 things we didn't know last year
The US sub-prime crisis in graphics
A Huge Depository of Unusual Real Estate Stories Here
January 1, 2008 in Real estate | Permalink | Comments (2) | TrackBack
December 12, 2007
Buying your first home
An interesting thread on Ask Mefi: What is the single most valuable piece of advice you received when you were in the process of buying your first home?
Borat Buying a House (YT)
A New Orleans lawyer sought an FHA loan for a client. He was told the loan would be granted if he could prove satisfactory title to a parcel of property being offered as collateral
Also: Count me in
A Huge Depository of Unusual Real Estate Stories Here
December 12, 2007 in Real estate | Permalink | Comments (2) | TrackBack
December 05, 2007
Can Sex Sell Real Estate?
Broker Shaun McLane of Orlando posted a racy video on his real estate blog titled Can Sex Sell Real Estate? (NSFW) The next day his was fired for not removing the video. He is now in the process of opening his own office
A gallery of Celebrity Foreclosures at The Luxist
Bird’s eye view of the Archie Bunker's House on 8970 Cooper Ave Flushing NY, and some other Famous TV Homes
If you search for Detroit houses for less than $5,000, you'll have almost 1,000 homes to choose from. Buy Houses in Detroit For $250, Monthly Payment = $1
A Huge Depository of Unusual Real Estate Stories Here
December 5, 2007 in Real estate | Permalink | Comments (1) | TrackBack
November 01, 2007
How To Lie With Statistics
Isolated Building Studies: Revealing Meaning Through Recontextualization. In each photograph, one building is literally the center of attention; however, the absence of buildings at the margins is as critical to each image as the featured structure. (From Punio)
Report on Rotten Neighbors
Foe sale: 128 Day Ave. The Smallest House In Toronto - 300 sq ft - $179,000
Haunted Houses…What Should An Agent Disclose?
US Housing prices since 1987 (and debunking of its methodology)
(Cartoon above from Clay Bennett)
A Huge Depository of Unusual Real Estate Stories Here
November 1, 2007 in Real estate | Permalink | Comments (1) | TrackBack
September 23, 2007
Leave Realtors Alone!
(From Single Point Realty. For the rest of the other parodies scroll down)
A Huge Depository of Unusual Real Estate Stories Here
September 23, 2007 in Real estate | Permalink | Comments (2) | TrackBack
September 21, 2007
Missile Base on eBay
Missile Base for sale. The Missile Base consists of 57 acres of real estate. The center secured portion of the property is protected by the original barbed-wire-topped chainlink fence. There is a paved road leading into the property with dual entry gates. Location: 1 1/2 hrs from Spokane, 4 hrs. from Seattle, 5 hrs. from Portland. Photos. Previously posted: 20th Century Castles
Also, Converted water tower, and Own a piece of Uranus
Your House - Artist Olafur Eliasson created this piece, a laser-cut negative space rendering of his house in 85:1 scale. (From Eric Gjerde)
How high are the fees when you buy a house? Britain and Denmark are cheap, costing under 5% of the purchase price; Korea, Italy, France, Greece, Spain and Germany are expensive at 12% – 22%
Closing Escrow - The trailer
St. Joseph, the hardest-working saint in real estate
Happy Yom Kippur, y'all…
A Huge Depository of Unusual Real Estate Stories Here
September 21, 2007 in Real estate | Permalink | Comments (3) | TrackBack
August 03, 2007
Diary of a Real Estate Rookie
Would You Buy A Condo From This Woman?
Formula For Calculating the Profitability of a Rental Property
How to handle real estate agents
Ted Truitt, Real Estate Ethics Guru
Newbie home flipper and broker Alison Rogers talks about bad agents, selling schemes and why it's impossible to predict the housing market. Diary of a Real Estate Rookie
Fake ads for sex haunting a Realtor
A Huge Depository of Unusual Real Estate Stories Here
August 3, 2007 in Real estate | Permalink | Comments (5) | TrackBack
July 05, 2007
Mid-Century Zen Craftsman
For sale: Mid-Century Zen Craftsman in Encino, California. Celebrity Compound Moments From Mulholland - 4+7 with 2 separate guest structures. Only $4,750,000. Call Jory Burton - 310.766.5679. (From a LAT story)
Also, Prince Bandar bin Sultan is selling his Hala Ranch in Aspen, $135MM. The initial listing video
How To Sell More Homes: Realtors attend worship service to pray for better market
Re-post: A History of Home Values
The Spider Web Chalet is a uniquely built structure also known as the The Hang Nga Tree House Hotel, Hang Nga Guesthouse & Art Gallery, and The Crazy House (depending upon who you ask)
/// A Huge Depository of Unusual Real Estate Stories Here
July 5, 2007 in Real estate | Permalink | Comments (1) | TrackBack
June 19, 2007
Real Estate for the Future
Philip Greenspun on the inefficiency of the NYC real estate market
Experience the majestic serenity of full Ocean View Property for generations to come…Lo'ihi Development Co. is to start selling lots in Hawaii with spectacular 360º ocean views for the introductory price of $36.05. The catch: these prime real estates are still submerged more than 3,000 feet below sea level and won't surface for another 10,000 years. That is, if the submerged volcanic island will actually break the surface. (From Pruned). More about the Man Who Sells the Moon
Constructing the top floors of a 57-story tower
Housing maps, a mashup application which combines Google maps with craigslist housing data to show where houses are for sale
Trulia Hindsight is an animated map of homes in the United States from Trulia. The animations use the year the properties were built to show the growth of streets, neighborhoods and cities in the US over time
Breaking news tonight! The Moon is occulting Venus as reflected in these 18 national flags
A Huge Depository of Unusual Real Estate Stories Here
June 19, 2007 in Real estate | Permalink | Comments (3) | TrackBack
May 24, 2007
Modern Tree Houses
Bird's Eye view of Michael Jordan's Home
50 Cent's 52-Room Mansion for sale. “A very tasteful home, except the stripper poles”
Battling the monster on the hill - Duane Hagadone's Palm Desert dream castle
Breaking news: Would-be home buyers find homeowner's dead body in bed. Also, Visit To Google Earth Reveals House Is On Fire
Knoxville, Tennessee - Then and Now
Sex advice from real estate agents. (Found on Sellsius Deep Throats Wanted post)
Flying Mobile homes by Peter Garfield
How a Cornfield Became a Subdivision
Real estate one, one of the winners of b3ta’s Phallic Logo Awards
Modern Tree House Massage Studio
For sale: Scenes from a bubble - an amorality play in four acts
I am gone “fishing” for a few weeks. This post has been pre-blogged for your enjoyment
/// Fark it /// A Huge Depository of Unusual Real Estate Stories Here
May 24, 2007 in Real estate | Permalink | Comments (6) | TrackBack
April 15, 2007
Real Estate Roller Coaster
Will Ferrell in "The Landlord"
Landlord's nightmare in Tacoma. A house was stripped nearly to the studs after a bogus online classified ad invited people to come in and take what they wanted
US Home prices adjusted for inflation plotted as a roller coaster
Real Estate Confidential, the TV Show - The Trailer
What should you pay for a house? (Answer: It depends on rents and interest rates)
/// Fark it /// A Huge Depository of Unusual Real Estate Stories Here
April 15, 2007 in Real estate | Permalink | Comments (1) | TrackBack
March 28, 2007
Not paying attention to small details
Commercial Real Estate in Russia
Ozark Mountain Railcar is the leading brokerage firm in North America for the sale of railroad equipment and railroad real estate. See their inventory of railroad cars. (From Information Junk)
25-year mortgage for a man aged 102
/// Reddit it /// Add it to your del.icio.us /// Fark it /// A Huge Depository of Unusual Real Estate Stories Here
March 28, 2007 in Real estate | Permalink | Comments (0) | TrackBack
March 09, 2007
La Familia
Buy a Church Euro 385,000
The Playboy Town House: Posh Plans For Exciting Urban Living
Buy a Remote Property in Alaska’a wilderness. (From Things Magazine)
A NY building totally covered with graffiti
The famous Richardson "Spite House" at Lexington Avenue and 43rd Street in NYC extended north 104 feet on the avenue, but was only five feet wide . Also, a very Narrow House in Brazil
Map of The City of Malton
What is a fair real estate commission? We don’t know, but here’s how some other countries break it down. Real Estate Commissions Around The World
Also, Making a killing in real estate (Real killing. From The Condo Metropolis Blog)
50 Largest U.S. Apartment Owners (as of January 1, 2006)
Many real estate videos at the new GooTube. (From Curbed SF)
Forbes’ 2007 Most Expensive Homes in the world and the Most affordable housing markets in the US
No discussion of real estate and mortgages could be complete without the musical stylings of the inimitable Señor mortgage, who will help you "Get a Leg Up on the Pile and Refinance Your Dreams!" (Thank you, Marilyn)
My friends Fabian Calvo & Rob Castro’s new program The Foundation Factor, the only home-based real estate business program created especially for the Hispanic community
/// Reddit it /// Add it to your del.icio.us /// A Huge Depository of Unusual Real Estate Stories Here
March 9, 2007 in Real estate | Permalink | Comments (1) | TrackBack
February 03, 2007
Moon for Sale
Super agent John McMonigle from Newport Beach sells some of the most luxurious homes in the country. For example, how about 4627 Brighton Drive in Corona Del Mar?
Sounds Like A Nice Place To Live: Towns with interesting names
Entire French town for sale. Price: $326,619
Extraterrestrial real estate is either land on other planets or natural satellites or parts of space that is sold either through organizations or by individuals. Such sales are not legally recognised by any nation, but some nations and NASA have recognised the need for regulation of property rights in space due to the absence of such law
A linky post by Miss Cellania about rentals and landlords
A Harris poll ranked real estate brokers at the very bottom of a list of 23 professions. Little wonder then that they are trying to clean up their image. NYT’s Agents of Angst
/// Add it to your del.icio.us /// A Huge Depository of Unusual Real Estate Stories Here
February 3, 2007 in Real estate | Permalink | Comments (4) | TrackBack
January 15, 2007
Too Many Realtors
Welcome to Baltimore, let me help you with your luggage. A Note to Renters from the Evil Landlord
How Diffent People See Your House
Jack a Crib. Learn to get into real estate "Hood Style" with No Money Down. (From Marlow Harris)
A Low Impact Woodland Home. The house was built with maximum regard for the environment and by reciprocation gives us a unique opportunity to live close to nature
Unbelievably bad real estate photos
Whether the housing market is stabilizing or not, it seems pretty clear that there are still too many people in the U.S. trying to make a living selling houses
St. Louis man finds his home demolished
** Unrelated image by Mofaha **
(Click on pix above to read message)
/// Add it to your del.icio.us /// A Huge Depository of Unusual Real Estate Stories Here
January 15, 2007 in Real estate | Permalink | Comments (7) | TrackBack
December 25, 2006
$1M Homes
Floor plans of apartment buildings in New York City at The New York Public Library Website. (From Hanuman)
A triangle house at the top of the Ozarks
Dull Moscow suburb painted bright
How to Buy a $450K Home for $750K
How I Sold It, conversations with real estate agents who sold the highest-priced properties in their area. The interviews are by Jeff Ordonez, editor of Luxury Brokers. See some Featured Listings there and in The Leading Estates of the World. The first site offers an access list to a Billionaires Directory, an online database of over 10,000 Richest Millionaires and 1000 U.S. Wealthiest CEO's ($59.95/mo)
What $1 Million Buys In Homes Around The World. (You have to first “Skip a welcome screen” = “Ignore the ad”)
/// Add it to your del.icio.us /// A Huge Depository of Unusual Real Estate Stories Here
December 25, 2006 in Real estate | Permalink | Comments (2) | TrackBack
December 05, 2006
Some gorgeous estates for sale
A Tuscan Farmhouse for sale
210 Secluded Acres, Private Lake, Main Residence, Conservatory, Boat House Pavilion, Art Studio, Stable, Gymnasium, Two Par 3 golf holes, Guest Residence, Guest and Staff Quarters, and Garaging for 16 cars. “Tranquility”, Tommy Hilfiger’s Lake Tahoe home for sale. The property is offered at $100,000,000. Make an offer today.
Another legendary piece of real estate marketing: The home previously owned by Steve Wozniak in Los Gatos. (From Inman Blog)
On the other hand: Affordable Living in Silicon Valley One-of-a-kind 3 bedroom 0 bath home
I must admit that my heart finds for some strange affections. I love dingbats! Now.. I better explain myself. I'm not referring to an "intellectually disinclined" woman. I'm talking about the multi-family building so prevalent to Southern California
Real estate agent decides that honesty is the best policy. (From Arbroath)
/// Add it to your del.icio.us /// A Huge Depository of Unusual Real Estate Stories Here
December 5, 2006 in Real estate | Permalink | Comments (2) | TrackBack
November 07, 2006
Charging too little for rent?
The Kane mansion, a Ja Jolla house, resembling an anus
Real Estate Art in New York by “Loft Ninja”
Charging too little for rent? Paying too much for rent? Rent-O-Meter! (I found it handy & pretty accurate)
Hotblack Desiato Real estate Company - Not the minor character in ‘Hitchhiker’s Guide to the Galaxy’
Re-post: Ben Katchor’s weekly comic strips Julius Knipl, Real Estate Photographer and others
Another real estate agent giving a bad name to his profession: A Haitian warlord who had been living in New York City as a real estate agent was ordered by a U.S. court on Tuesday to pay $19 million to three women who say they were raped and had their breasts slashed by his men
/// Add it to your del.icio.us /// A Huge Depository of Unusual Real Estate Stories Here
November 7, 2006 in Real estate | Permalink | Comments (2) | TrackBack
October 07, 2006
1428 N. Genesee Ave, LA, 90046
£20,000 for a house that is 0.5mm across
Freddy Krueger's House on Elm Street for Sale. Only $1, 095, 000
Cartoons About The Housing Bubble
Avery Ant’s Irrational Distrust of Real Estate Agents
Taking your helicopter to work from Scottsdale just got a whole lot tougher
I'm a 24-year-old aspiring real estate investor from Sacramento CA. After going to few seminars I bought 8 houses in 8 months across 4 states with no money down. I fixed and sold 2 and then ran out of cash. I am Now Facing Foreclosure on 5 houses. I'm learning my lessons, finding solutions and blogging about it
A new blog aggregator that is like Digg for real estate - Real Estate Voices
/// Add it to your del.icio.us /// A Huge Depository of