A Visit to Mira Flats Ahead of the Public Preview
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
|Plan||Square footage||Price range||Parking|
|Studio||406 – 528 sf||$425k – $515k||+$50K|
|Open 1 bedroom||550 – 629 sf||$485k – $585k||+$50K|
|1 bed / 1 bath||541 – 753 sf||$525k – $699k||+$50K|
|1 bed / 1 bath + den||752 sf||$615k – $705k||+$50K|
|2 bed / 1 bath||936-965 sf||$795k – $930k||1 space included|
|2 bed / 2 bath||963 – 965 sf||$840k – $1.1m||1 space included|
|3 bed / 2 bath||1,189 – 1,191 sf||$1.1m – $1.2m||1 space included|
Reservations will be Saturday September 22nd with closings and move-ins in early 2019.
- Rooftop deck
- Attended lobby
- Club room with kitchen and TV
- Conference room
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.