New Listing - Charleston Place Plan 2 condo (55 Wildflower Pl in Ladera Ranch)

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usctrojancpa

usctrojancpa

Well-known member
I wanted to give everyone the heads up that I just listed a 1,400sf Charleston Plan 2 attached condo in Ladera Ranch.  It was built in 2005 and has 2 upstairs bedrooms along with front porch.  The home is priced at $400,000.  It would make for a great starter home or rental property investment (rental comps are $2,400-$2,500 per month).  I'll also have an open house on Saturday and Sunday August 29th and 30th from 12pm to 3pm.  I'll be there for the first half hour and then I'll be off to my 105 Blaze open house in Woodbury East from 1pm to 4pm but my assistant will be there when I leave.

Pictures and the virtual tour are up in the link below:

www.55wildflowerplace.com

Here's the Redfin link for the listing:
https://www.redfin.com/CA/Ladera-Ranch/55-Wildflower-Pl-92694/home/5979924

PM me or email (mmania001@yahoo.com) if you are interested in seeing the home.
 
Just curious how is the mello on this one?  I remember when Ladera first was released a lot of people thought the MR was high but buy now it's probably dwarfed by the likes of FivePoints Super Mutant Mello.
 
aquabliss said:
Just curious how is the mello on this one?  I remember when Ladera first was released a lot of people thought the MR was high but buy now it's probably dwarfed by the likes of FivePoints Super Mutant Mello.
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The Mello Roos on this condo is actually pretty low...it's about $1,700/yr or about $150/mo.  I think with Ladera the Mello Roos may be based upon the lot size hence why this condo has a low Mello Roos. 
 
Busy day today besides the open house...got a 2nd and 3rd offer today (one came in yesterday).  I'm expected a few more to come in by Monday.
 
All of the offers and counters came in over list price and the sellers have selected the buyer.  We are opening up escrow today. 
 
Loan funded earlier this morning and we are set to close/record this afternoon.  Closing price will be $414,000 beating the model match high price of $405,000 for 2015.  There were two offers at $414,000 and the seller selected the owner occupant buyer (other offer was from an investor).  Congrats to both. 
 
USCTrojanCPA said:
Loan funded earlier this morning and we are set to close/record this afternoon.  Closing price will be $414,000 beating the model match high price of $405,000 for 2015.  There were two offers at $414,000 and the seller selected the owner occupant buyer (other offer was from an investor).  Congrats to both.
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Congrats USC.  Is this the house we ran the numbers for investment purposes?  I thought even at 400K it was cash flow negative...  Im surprised an investor offered up to 414K...  In any case good job.  There seems to be a lot of clueless "investors" (lemmings late to the party) lately.
 
hello said:
USCTrojanCPA said:
Loan funded earlier this morning and we are set to close/record this afternoon.  Closing price will be $414,000 beating the model match high price of $405,000 for 2015.  There were two offers at $414,000 and the seller selected the owner occupant buyer (other offer was from an investor).  Congrats to both.
Click to expand...

Congrats USC.  Is this the house we ran the numbers for investment purposes?  I thought even at 400K it was cash flow negative...  Im surprised an investor offered up to 414K...  In any case good job.  There seems to be a lot of clueless "investors" (lemmings late to the party) lately.
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Yeah, this was the property that we ran the number for investment purposes.  The investors were 1031 exchange buyers putting down about 40% so I really wouldn't say they were late to the party, more that they wanted to keep deferring their tax liability.  When I was helping the seller to look for a home to buy, we kept getting outbid by cash buyers and investors so I think that's why they went with the owner occupant buyer.
 
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