This apartment is a steal in Scottsdale at less than $1500 per sq. foot (Seriously. No, seriously). At only $4.2 Million, this 2-bedroom condo (it's not really a loft) would have a low, low monthly payment of $25,181, plus your condo fee of $1200 a month of course. But it would make a great investment, as rent for this two-bedroom charmer would be at least $2,500 per month - so no worries there!
This charmer sits next to the busy 101 freeway in Tempe, under the flight path of Sky Harbor, and in an area surrounded by junk yards, a horse stable, a porn shop and an In and Out burger for those nights you'd like to dine out.
Enjoy the hum of the freeway and roar of the jet engines as you contemplate why you just paid $1 Million (or $7000+ per month) for a place that would rent out for $2000 a month max.
Folks, have people lost there minds? Are you seeing listings that make no sense in your neck of the woods too? And after all the bubble press, bad housing numbers and rising interest rates who in their right mind would be out today making an offer on one of these insanely overpriced units?
December 26, 2005
Posted by blogger at 12/26/2005