Do you remember this condo we wrote about in September? Then, unit #809 at Cristalla was scheduled to go to auction with a minimum bid of $254,745. It was postponed (delayed) and finally made its way back to the foreclosure auction last Friday. It was brought to our attention by a loyal reader and client of ours who wanted to purchase this particular unit. On their behalf, I went down to the auction on Friday in an effort to secure the property for them. It didn’t take long me to notice that there were a few others investors that had their eyes on the 1 bedroom unit as well. Long story short the bidding started at $212,000 and ended at $265,000. Not a bad deal considering that this same exact unit once sold for $622,500 in 2007. Not all foreclosure sales have the same result, but in this case, my analysis showed that this property sold for about 70% 0f its actual market value.
|CRISTALLA CONDOS||INFORMATION||UCS PROJECT GRADE||GRADE||BUILDING AMENITIES|
|ADDRESS||2033 2nd Ave, Seattle||LOCATION||B+||24 hour concierge|
|DEVELOPER||Murray Franklyn||AMENITIES||A||On-site management|
|ARCHITECT||Weber + Thompson||PRICE||B||Pool|
|BUILT||2005||LUXURY||A||Pool, Sauna (wet and dry)|
|STORIES||23||BUILDING CONSTRUCTION||A||Owners Lounge & Screening Room|
|UNITS||197||UNIT DECOR||A||Multiple View Decks & Fitness Facility|