walk-ups in Sunnyside / Hillhurst etc.

[BigMass]

how stigmatized do you guys think that 4 story walkups in good locations are. For example, there are some sweet top floor 4 story concrete walkups in prime locations like Sunnyside and Hillhurst that I'd have no issue living in, but they seem to be on the market a long time and I'm not sure if the fact that they're walk-ups is a big factor for people. Personally, walking up 4 floors doesn't matter at all. Top floor is my preference, amazing view of downtown etc. But the last thing I want to do is get excited about something i'll have major issues selling down the road.

example

http://www.realtor.ca/propertyDetails.aspx?propertyId=14092945&PidKey=-419439455

prime location, view, concrete, everything. I'm thinking the only reason this thing isn't selling is no elevator. They started out at $425k and keep dropping it.

Any opinions on these types of places? I know in places like New York this is very common in older areas and older buildings. One advantage is low condo fees as there is less to repair when it goes wrong. But I assume a lot of people wouldn't see it that way and wouldn't even look at this because of the lack of elevator. Or am I way off base here

[msommers]

Given that the property is right on Memorial, I bet a lot are afraid of flooding issues.

Maybe road noise as well.

[BigMass]

Originally posted by msommers
Given that the property is right on Memorial, I bet a lot are afraid of flooding issues.

Maybe road noise as well.

its quite a ways off the main road, zero noise can be heard from inside. The location is part of what I love about it because you will never lose the view as they will never build in front of it to block it.. As for flooding, there was zero water in that area and is not on any of the new alberta flood maps. Most if not all the flooding in Kensington was east of 10th st

[msommers]

My building is older and doesn't have an elevator, which is something I wanted because we don't have to pay for maintenance. You do hear the fatties coming down the stairs though. I will say this, I'll be hiring a moving company whenever I leave! Between moving in and hauling up/down well over 2000lbs of laminate, it's a tough call. That place doesn't have underground parking which is unfortunate.

While what you said makes sense, it's likely still a concern for people when they're flipping through listings.

Hopefully you could park in the back there, would be a pain in the ass to turn eastbound on Memorial!

Great view though, would never go away as long as that building is there.

[BigMass]

Originally posted by msommers
My building is older and doesn't have an elevator, which is something I wanted because we don't have to pay for maintenance. You do hear the fatties coming down the stairs though. I will say this, I'll be hiring a moving company whenever I leave! Between moving in and hauling up/down well over 2000lbs of laminate, it's a tough call. That place doesn't have underground parking which is unfortunate.

While what you said makes sense, it's likely still a concern for people when they're flipping through listings.

Hopefully you could park in the back there, would be a pain in the ass to turn eastbound on Memorial!

Great view though, would never go away as long as that building is there.

Thanks for you input! yeah you don't have an elevator either? interesting. I mean it's one thing when these people purchased their units 15 years ago for $100k. Then you're livelihood doesn't rely on resale. Now when we're busting out $400k for a place like this you start getting second thoughts on everything hehe

[msommers]

Yeah it's pretty sickening when I see on those house-hunting shows what 400K gets you in the US.

[BigMass]

Originally posted by msommers
Yeah it's pretty sickening when I see on those house-hunting shows what 400K gets you in the US.

oh yeah and underground parking, I don't think any low rises in Hillhurst/Sunnyside have underground parking unless you're talking about the new stuff like Pixel and Lido. So for me it's not a huge issue because if you want that location you're not going to get underground parking anyway

[bookem]

That's a nice building, not sure about the price though. The units and common areas in there are nicer than most that were condominium-ized in the early 2000's.

These types of units make for great investment properties - lower condo fees and the nice finish combined with low noise of a concrete condo are a draw for good tenants.

[JordanLotoski]

These are great for the right money. At 400k you have quote a few options for condos in the city with an elevator.

[doomdealer]

While I can't comment on the 'value' of a walkup in a good location, I can comment on the experience of living in one. My wife used to rent the 4th floor (top floor) unit in a Boardwalk walkup.

Initially, my wife and I had the same mindset as you. Walking up 4 floors didn't seem like such a big hassle. It's just 4 floors after all!

Then came the shocker:

- It's painful to be hauling 3-4 bags of Superstore groceries up the stairs even if it's only once every 1-2 weeks. Milk cartons, juices, canned food... all those suddenly get real heavy after carrying them up a few floors...

- Buying a small Ikea shelf? Don't forget about having to haul it up those stairs, all while dealing with other residents that are using the stairs at the same time.

- When it comes to moving in and out, be prepared to spend an extra hour or two... simply because of having to carry the stuff up/down the stairs. Also, there's a higher risk to items breaking due to them falling down the stairs during a move.

I will never live in a walk up again after that experience.

[woodywoodford]

Agree with doom,

I'm on the fourth floor w/ no elevator as well. It isn't so bad all the time, but gets old VERY fast.

Legs day at the gym? Hate the stairs.
Groceries/shopping? Multiple trips to the car, hate the stairs.
Furniture? Like mentioned, lug it up the stairs.
Laundry? (in my case) you got it, stairs.
Gotta just run outside quickly (garbage, whatever) - four flights of stairs first.
End of a very long day at work? Still get to climb those stairs!

They all sound very petty, but trust me. You'll want an elevator.

[CapnCrunch]

I lived in a 3 story one and didn't have an issue. It sucked carrying stuff up the stairs obviously, but not enough that it bothered me to swear off climbing stairs forever.

Other than some bags of groceries once a week, and the occasional piece of heavy furniture, it's not that bad.

I don't know how it will affect the investment side of things, but I would guess the lower condo fees might offset the small inconvenience factor in a buyers mind.

I'm assuming you aren't buying groceries for a family of 8, or thinking of opening a furniture restoration or safe cracking business in the condo.

[BigMass]

my wife used to walk up 18 floors with groceries just for some exercise and refused to use the elevator. So for us walking 4 floors isn't an issue. Just don't wanna max out 400k, end up having to move or sell later and find out nobody even wants to look at the place due to this. I often find that what I like is not what %95 of what other people like so I often get myself in trouble just thinking about what I like or what I don't have a problem with etc. For me it's not an issue but it seems like for most it is.

[msommers]

Just another thought on potentially why this hasn't sold yet: condo management and reserve fund could be severely lacking. I don't know if it's public or realtor's have access to previous offers that have folded because of conditions not being met.

As for furniture, this was my first place on my own (ie: not relying on roommates for stuff) and as a result, needed to buy a lot of new furniture. Hauling IKEA's finest dressers, dining table, shelves etc by myself up 3 flights of stairs was an interesting task to say the least. Just another reason I will be hiring a moving company on the way out.

Groceries is not a huge deal, especially for something like this size. It's amazing to see how much stuff some Moms will carry before I see them and offer some help.

To me, the view is the only thing making this place worth even close to 400K though. No elevator, no underground parking, relatively updated...

It's very difficult to predict what 5 years from now could look like, if the river will flood even more than recently, etc. I say buy the place that you and your wife will enjoy because it's what you're looking for. Worst case, you live there longer than expected until the market heats up again. But at least you'll be in a place you're happy with, instead of a place you're moderately OK with but has better market appeal. The only caveat to that would be is if you're looking to flip the place in a year or two.

[BigMass]

Originally posted by msommers
Just another thought on potentially why this hasn't sold yet: condo management and reserve fund could be severely lacking. I don't know if it's public or realtor's have access to previous offers that have folded because of conditions not being met.

As for furniture, this was my first place on my own (ie: not relying on roommates for stuff) and as a result, needed to buy a lot of new furniture. Hauling IKEA's finest dressers, dining table, shelves etc by myself up 3 flights of stairs was an interesting task to say the least. Just another reason I will be hiring a moving company on the way out.

Groceries is not a huge deal, especially for something like this size. It's amazing to see how much stuff some Moms will carry before I see them and offer some help.

To me, the view is the only thing making this place worth even close to 400K though. No elevator, no underground parking, relatively updated...

It's very difficult to predict what 5 years from now could look like, if the river will flood even more than recently, etc. I say buy the place that you and your wife will enjoy because it's what you're looking for. Worst case, you live there longer than expected until the market heats up again. But at least you'll be in a place you're happy with, instead of a place you're moderately OK with but has better market appeal. The only caveat to that would be is if you're looking to flip the place in a year or two.

yeah it comes down to, I like the place but it seems 50-80k over priced. Are the views and proximity to the river worth 80k more than something a block down the road in a similar building. Probably not at this price range when we're talking %20 of the entire value of the property just being "view"

[CapnCrunch]

It's a nice view, but being on Memorial would kill it for me.

I'd honestly rather be facing the alley and cut down on road noise. Facing south, it will be hot as balls in the summer and you're going to want to have your window open to cool down, right around the same time that the Harley fags like to do their leather tassle parade.

[woodywoodford]

Top floor+south exposure=an oven regardless of what the temperature outside is. You're gonna be opening those windows a LOT.

[ercchry]

use to live on the 3rd floor of a condo building with an elevator.... that was always broken and i didnt mind the stairs at all, but i was also young. if the condo is sitting just throw up a lowball offer and see what happens? if you can lock it down for $365k would you be all that worried still? :bigpimp:

but for real, just pull the damn trigger on something already! you and flipstah are just perpetual window shoppers :rofl:

[Tik-Tok]

You have to realize too, with a 4th story walk-up, you are eliminating virtually any buyer with small children.

Singles, or married with no kids? No problem.

A mom (or dad) by themselves, trying to drag a stroller, and groceries, etc. up 4 floors? Gonna have a bad time.

[BigMass]

Originally posted by ercchry

but for real, just pull the damn trigger on something already! you and flipstah are just perpetual window shoppers :rofl:

I started looking just as the flood hit so that killed my entire selection. If I started looking a few months prior to the flood I'd probably have purchased something. If the flood never happened and the market was more balanced I'd probably have purchased something by now. It's one thing to have a hot market based on fundamentals such as a strong economy etc. it's another to force myself to deal with the current situation due to the flood. I think I'd be a smarter buyer to wait for the flood situation to play out and have selection at least go back to pre-flood levels. Still a hot market but not so ridiculous because thousands of people are out of their primary residences temporarily until their stuff is fixed.

[doomdealer]

Originally posted by woodywoodford
Top floor+south exposure=an oven regardless of what the temperature outside is. You're gonna be opening those windows a LOT.

This is true too... though in my case, I had an A/C unit when living in the top floor.

I guess it also depends on how much exposure your windows have to wind/drafts. If you can catch enough cool drafts with your windows open, that'd help as well.

Plus being on the top floor, you don't have to worry about noisy neighbors banging their furniture above you... or worry about their toilets leaking sewage into your unit. :D