facebook
twitter
search
search

$1 condo fails to get offers

Dec. 18, 2012 at 3:01 PM

LAGUNA WOODS, Calif., Dec. 18 (UPI) -- A California condo being listed for $1 is proving hard to sell due to its location in a retirement community and $1,718 a month in homeowners association dues.

Cathy Flores, the listing agent for the condo in The Towers complex in Laguna Woods, said the sellers want only $1 for the 500-square-foot condo and are offering to pay $1,500 for new paint and carpeting but she has yet to receive an offer for the property, the Orange County (Calif.) Register reported Tuesday.

The fourth-floor condo features dinner service, maid service and utilities included, but Flores said potential buyers are put off by the condo being in a retirement community -- which means no residents under the age of 55 are allowed -- and charging $1,718 a month in dues to the homeowners association.

"It is a good deal, but it's not a good investment," Flores said. "It's really for someone looking to enjoy the amenities in Laguna Woods."

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Man helps shark return to ocean at North Carolina beach
German man launches lawn darts to show dangers
Police: Florida motorist accidentally jumped drawbridge
Watermelon cutting attempt sends sword through glass table
Washington state raccoon teaches cub to climb a tree