Nexus Closes 150+ Units
Nexus, the new condo in Denny Triangle, announced today that they’ve closed over 150 of their 389 units and five buyers are moving in per day.
While many are moving in, many are putting their new condo up for sale or rent.
In terms of sales, 15 condos have been flipped. 3 are pending (including the one we listed, #905) and 12 are still active ranging in price from $388k to $1.2m. From the net proceeds calculations we’ve run for clients it is hard to make money flipping at Nexus (and this was before the novel coronavirus) and some sellers are likely losing money.
In terms of rentals, there are 12 for rent on the MLS and some on Craigslist. From the rental calculations we’ve run for clients, unless you made a large down payment, it is hard to make money renting with rents having flattened out in recent years.
If you bought at Nexus and are wondering what to do, feel free to reach out. Happy to chat about your options and possibly help you sell or point you in the direction of a good property manager.