It says a lot about what it takes to sell an all-cash co-op, versus a traditional home, which you can purchase with a loan. Co-op properties stay on the market for much longer, as you are waiting for a buyer to come with all cash. Whereas our new listing in the Garfield neighborhood, was listed on Saturday and we have an accepted offer now, chosen from multiple offers.
It’s a shame, because co-op properties are often meticulously-maintained and offer a very stable alternative, especially if you travel a lot.
The price of our listing in midtown has come down a bit and the sellers are very reasonable, though not in a rush. So, have a look.
520 W. Clarendon Ave, Unit G2. $284,000, 2br/1.75 ba, 1,320sf. There are a few pristine co-op apartments still in central and downtown Phoenix. Most were built in the 1960s and only a few maintain that mid-century charm. This is one of them. But, on top of that, the owners of this unit opened up the kitchen since and completely remodeled since they purchased the home in 2021. This home is being sold with all of the unique furniture, as an option for the buyer. This secure community is just steps from dining, light rail and shopping. You can lounge in the pool or chill in the historic commons knowing that your investment is being maintained and cared for as a co-op uniquely is. See the listing and more photos here.
1423 E McKinley St. Listed at $339,000, 2br/1ba, 686sf. This property has the beauty of a historic bungalow and the money saving features that you will appreciate for years. The buyer can apply for the historic district property tax reduction AND the property is already zoned for two residences. With a large back yard, RV gate and full RV hookup, there is plenty of room to grow. The covered patio in the back houses an outdoor kitchen, a super efficient heat pump water heater, an RO water system and laundry. The property saves huge amounts of water with low flow fixtures, a front-loading washer, low water-use plants and a grey water system that feeds trees. Not to mention the PV solar system, extra attic insulation, high efficiency HVAC, remote thermostat, insulated floor, double pane windows and recently-remodeled kitchen with induction range.
