Is this a good deal..Condo in Downtown?

[import_rider]

I seen this ad on welist and seems like a really good deal, any suggestions.. I am seriously thinking about buying it for either a rental property or for my own residence. It's a 2 level penthouse with over 1600sq ft for only $449,000

Here is the link:

DOWNTOWN PENTHOUSE

[import_rider]

I seen this ad on welist and seems like a really good deal, any suggestions.. I am seriously thinking about buying it for either a rental property or for my own residence. It's a 2 level penthouse with over 1600sq ft for only $449,000 and I have seen newer penthouse going for Million +

Here is the link:

DOWNTOWN PENTHOUSE

[joyridder]

Thats a pretty nice place! Love the view....
Kitchen is bright and open, perfect size. It will have good resale value...

[max_boost]

Not sure if it's a good deal but have you crunched the numbers yet? How much rent you can charge vs the mortgage + expenses you have to incur?

Contact an agent and have him search any units that have been sold in that building, should give you a good idea.

A year ago everyone would have said that it was expensive, not anymore though.

[B20EF]

To me that looks like Rocky Mountain Place in between 6th and 7th Ave, so I would say yes for a two level 1600 sq/ft condo in that building yes thats agreat deal

[00redLUDE]

That works out to be ~$280.63/sqft which for a downtown property is very good. It is usu going for $350-390/sqft. However, it would be a difficult condo to rent out as the rent would be something close or even over $2000 but for the price it is a good deal.

[Neil4Speed]

Is this apartment in Rocky Mountain Court?

If so, I spent the first 5 years of my life there. Its a fantastic location and a very well built building, concrete everything.

[911sc]

Originally posted by Neil4Speed
Is this apartment in Rocky Mountain Court?

If so, I spent the first 5 years of my life there. Its a fantastic location and a very well built building, concrete everything.

I spoke to the guy today and it is. I like the location of the building.

[TDA]

Umm, no.

Have your realtor do a search for exact same penthouse suites that have sold recently in the exact same building.

You'll find it is overpriced.

[glennc]

Thats a crazy deal. 2 car garage, 2 bathrooms. Im just angry you got to it before im moving out :p

[eclipse00]

You would be stupid not to buy that!! If I had the money for a second mortgage I'd be all over that like a fat kid on a smartie!

[Safety Crew]

That's through the roof. I've seen cheaper and much nicer. Sorry dood.

[Whey2Juiced]

I cant make out by the pics, where its located.

[00redLUDE]

Why do you need two posts of the same question?

http://forums.beyond.ca/showthread.p...hreadid=140251

[dino_martini]

Nice place, I think ill stay where I am though.

[911sc]

Originally posted by Safety Crew
That's through the roof. I've seen cheaper and much nicer. Sorry dood.

There is no way you can find something this cheap and large in downtown (2 levels). All the penthouses I have seen are close too or over a million. Find me something downtown as large and cheaper and I will buy it in a heartbeat.

[Altezza]

I personally know someone that owns a penthouse at Rocky Mountain. IMO, that is a shitty building. It was built very poorly. HVAC systems suck, the concrete was done poorly and cheaply hence all the uneven flooring on the penthouse levels. A lot of noise still transfers between the units. Garage is one of the tightest I've seen for a condo; inclines in the garage are horrendous for even certain stock vehicles. If you get stuck on the garage levels that are not underground, it's open to the elements and you get a nice big whiff of garbage when you enter the parkade since that's where all the garbage bins are.

[Altezza]

Check for my response in the other thread you started.

[Xtrema]

Originally posted by Altezza
I personally know someone that owns a penthouse at Rocky Mountain. IMO, that is a shitty building. It was built very poorly. HVAC systems suck, the concrete was done poorly and cheaply hence all the uneven flooring on the penthouse levels. A lot of noise still transfers between the units. Garage is one of the tightest I've seen for a condo; inclines in the garage are horrendous for even certain stock vehicles. If you get stuck on the garage levels that are not underground, it's open to the elements and you get a nice big whiff of garbage when you enter the parkade since that's where all the garbage bins are.

It's cheap for a reason. I never liked that area much. And the building is ugly.

I rather spend that on a smaller, newer apartment.

[TDA]

Originally posted by TDA
Umm, no.

Have your realtor do a search for exact same penthouse suites that have sold recently in the exact same building.

You'll find it is overpriced.

^^ See above...

you need to compare the unit to the REST of the building... remember, theres crackhouse buildings in the beltline next to the super expensive new condos.... This is one of such, it's decent, but still a bit overpriced.

Rather than going "yeah its good bla bla" just do a search on the MLS like I said, you'll find your answers there...