Contact us:

[email protected]
206-618-1600

A Visit to Mira Flats Ahead of the Public Preview

By September 13, 2018

Mira Flats

We swung by Mira Flats today to get a preview ahead of the public review event this Saturday from noon to 5pm.

Below are some lame photos I took but you’re likely most interested in the price ranges:

Price ranges – first release

PlanSquare footagePrice rangeParking
Studio406 – 528 sf$425k – $515k+$50K
Open 1 bedroom550 – 629 sf$485k – $585k+$50K
1 bed / 1 bath541 – 753 sf$525k – $699k+$50K
1 bed / 1 bath + den752 sf$615k – $705k+$50K
2 bed / 1 bath936-965 sf$795k – $930k1 space included
2 bed / 2 bath963 – 965 sf$840k – $1.1m1 space included
3 bed / 2 bath1,189 – 1,191 sf$1.1m – $1.2m1 space included

Reservations will be Saturday September 22nd with closings and move-ins in early 2019.

Amenities

  • Rooftop deck
  • Attended lobby
  • Club room with kitchen and TV
  • Conference room

Thoughts

What do I think? I suspect that having a nearly move-in-ready new construction condo building at much more approachable price points than One88 will mean the units under $700k sell quickly. I won’t be surprised if people camp out trying to secure a reservation on a units under $500k. Especially since there isn’t a rental cap, though flattening rents are making it harder for investors to cashflow at 20%-25% down and with the market in a funk, I’d caution investors from counting on 10%+ year-over-year appreciation like we’ve seen to make up for negative cashflow purchases.

Given that this was originally built as an apartment, if I were to purchase here there’s a few changes we’d likely make – upgrade the luxury vinyl plank flooring to engineered hardwoods, undermount bathroom sink, and a slide-in range would be at the top of my list of relatively in-expensive upgrades to make my home feel a little more luxurious.

Also worth noting is that “Mira Flats 2” will be going up to the south, so south-facing units will lose their view. There’s also no AC, but the south and west facing units have AC ports so you can take the edge off.

Will we see you at the reservation event on Saturday the 22nd? Happy to help you navigate the process as your buyer’s agent.

I’m the founder and managing broker of Urban Living. I love lofts, floating homes, new construction and mid-century moderns but will help you buy or sell just about anything.

Get in touch to:

  • Understand the market
  • See homes for sale
  • Sell your home

Contact:

206-618-1600