Tsk, Tsk Chase! 100% Financing ~ Calabasas Foreclosure on Park Capri
May 16th, 2011 Categories: Calabasas Foreclosures
Tsk, Tsk, 100% financing will get you every time. Chase is left holding the bag on this bank owned Calabasas condo. It seems they didn’t see that the end was near in the summer of 2007. They lent $350,400 on a first mortgage and another $87,600 on the second for a whopping total of $438,000 to the buyer of this beauty. This condo is now listed for sale as bank owned for $256,500. That’s a 41% decline in value on this 2 bedroom 1.5 bath with a balcony overlooking the trees.
It seems there are a few law suits against this HOA but the upside is it’s listed at less than $200 a square foot and the demand for rentals is strong in Calabasas. A two bedroom condo near the lake rents for approximately $1700 a month, so for all you investors or even wanna be investors, this might be just the perfect starter investment. For more info on this or other Calabasas foreclosures call Tracey Thomas at 818-652-2937.
6/1/2011 Update – Property is now in escrow.
6/21/2011 Update – Property sold for $250,000 to an all cash buyer.
Park Capri, Calabasas REO
This entry was posted on Monday, May 16th, 2011 at 4:33 pm and is filed under Calabasas Foreclosures. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.
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