[Tires]

I noticed there is a ground level 1 bedroom floor plan at Mar A Lago of about 690sq ft. That floor plan seems to be "all electric" even though the complex is plumbed for gas for the other units. So, electric water heater, furnace and dryer will raise utility costs a bit for people living in that model.
That floor plan also only has room for a stackable apartment-sized washer/dryer set.

I have sveral questions about the complex and that floor plan.

Do the units have what people call "paper thin" walls and ceilings regarding noise control between units?
Have there been any issues at Mar A Lago with the shared trash dumpsters filling up and overflowing before the garbage can be collected by Republic?
Does the 690 sq foot unit have a pre-plumbed water softener loop or any other practical way to install a water softener? Do other floor plans in the complex have the softener loops and space for the unit?
Is the electric dryer outlet 220V or 110V in the 690 sq ft model?
Does the range hood connection have ducting to the outside of the building or do you have to use a ductless recirculating range hood?
Is it true that there is a $30 Master Association fee on top of the $127 condo association fee?

[bledsoe3]

Originally Posted by Tires

I noticed there is a ground level 1 bedroom floor plan at Mar A Lago of about 690sq ft. That floor plan seems to be "all electric" even though the complex is plumbed for gas for the other units. So, electric water heater, furnace and dryer will raise utility costs a bit for people living in that model.
That floor plan also only has room for a stackable apartment-sized washer/dryer set.

I have sveral questions about the complex and that floor plan.

Do the units have what people call "paper thin" walls and ceilings regarding noise control between units? I haven't had any noise problems with the neighbors.

Have there been any issues at Mar A Lago with the shared trash dumpsters filling up and overflowing before the garbage can be collected by Republic? The only time I've seen the dumpster full was when someone was remodeling their unit. I think they pick up twice a week.

Does the 690 sq foot unit have a pre-plumbed water softener loop or any other practical way to install a water softener? Do other floor plans in the complex have the softener loops and space for the unit?
Is the electric dryer outlet 220V or 110V in the 690 sq ft model?
Does the range hood connection have ducting to the outside of the building or do you have to use a ductless recirculating range hood?
Is it true that there is a $30 Master Association fee on top of the $127 condo association fee?

There is a $30 master plan assoc. fee. I think you should have a realtor take you to see the unit or a similar one.

[eventusstultorummagister]

REO that's been on the market for 196 days! 2 price reductions and no takers @$27,500.

You do the math...

[olecapt]

Originally Posted by eventusstultorummagister

REO that's been on the market for 196 days! 2 price reductions and no takers @$27,500.

You do the math...

A no rental single has little charm. The larger units in there regularly go for over $50 per SF.

that one is also scuffed up pretty good .

[Tires]

It's ugly inside and pretty much unfinancable. I think my credit union does mortgages down to $25K, but they also require 20% down which would put well below the minimum loan amount. Many banks don't finance under $50K.
Most cash buyers are investors who want rental properties, which this is not. Limited number of buyers for something like this.
If the seller put a little money into new paint and carpet and maybe a little more cosmetic fixing up, it might appeal to single retiree looking for a very small and cheap condo to buy in a decent area and who is not concerned about it ever having any significant price appreciation. You have to know if it didn't quickly sell at this price, you will also have issues reselling if you ever want to move out.
$157 per month in HOA fees plus less than $100 per month in taxes and insurance plus low utilities should make it a very cheap place to live though.

I suppose the seller could also try fixing it up and marketing it as a low end vacation or snowbird condo. I assume a vacation home is still considered owner occupied for CC&R purposes since it isn't rented out.
If the seller decided to drop it to $20K and there is nothing wrong with where it is located in the complex and there is nothing preventing a water softer from being installed, I would seriously consider buying it for cash as long as I had a way to finance the renovations other than credit cards.

What also makes this a hard sell is that there are newer condos available under $40K like Terrasini and Skypoint that have garages. Even well worn units at those places should need little more than just repainting and carpet replacements unless they were vandalized. The rough units at Mar A Lago need that plus complete remodeling of kitchens and baths plus they have HVAC systems close their end of life. It wouldn't be that hard to spend so much money fixing and updating a Mar A Lago condo like this that you would have been better off finding a $38K 1 bedroom condo with garage at the other places and only having to spend another $2K to fix it up.

[Tires]

I had caveats about seeing the specific location in the complex and whether a water softener would work there. I have seen comps. It was someone else who brought this unit up when they commented that it was odd that it hasn't sold despite having a low asking price.
If they can sell it for $27.5K to someone else who isn't an investor, they will. Maybe their current asking price is low enough to sell. If not, it will be something I'm willing to consider. I have been to Mar A Lago, I just haven't been inside the condos.
I would rather have a newer place with a garage, but at a low enough price I'm willing to live without the garage and just update the place myself if everything else is fine. Not having a ton of renters around would compensate for some of the other things I prefer at the other condos.

[Tires]

So, anyone buying a unit like that would be wise to pay as little as possible and still not expect to be able resell it for more money any time soon if ever.
It will be cheaper than renting if you don't have many unexpected repairs such as having to replace a completely failed a/c unit etc..
Alot of people looking for a place to live cheaper than rent also don't have $27K cash sitting around to buy without a mortgage, so that limits the available buyers.

Since they can't sell to investors who would normally buy the cheap condos and turn them into rentals, I think the best way they could sell these units would be to play up the rental restrictions and advertise to snowbird seniors looking for a cheap winter home and to frugal retirees who would live there full time. Retirees from other states thinking of making a drastic move to Mexico or Costa Rica in search of cheap housing. Maybe expats wanting to get back to the US affordably.
I haven't seen anything else comparable in price with rental restrictions, so they should not really be this hard to sell if they marketed them better to the right demographic who is looking for this type of place.