The Grande may be a nice building, but in the end, those one bedroom condos are not worth $100,000. Two bedrooms will be lucky to be worth $150K.
The reason is bluntly simple. Even when you own it, the HOA fees are high enough that you’re basically renting it. The unit looks nice, but, it’s just a high rise apartment with a $626/month HOA. Add property tax of $80/ month on a $100,000 purchase and renting it $1200/month means you can’t cover the payments.
The Park Place towers on Jamboree and the 405 in Irvine are in the same boat. They’re all sold… but there are never any lights one. One here, one there. So unless the owners is numbly rich, the HOA fees kill.
