Arlington Oaks
1997
Arlington, Virginia
Property Information
| Location | Arlington, Virginia |
|---|---|
| Number of Units | 327 |
Before Conversion as a Co-op
Large Co-op with stagnant market values.
Had over 70% Investor population prior to conversion
Units built in 1950’s with substantial deffered maintenance and capital replacement requirements.
After Conversion as a Condo
Unit prices skyrocketed and has been increasing well above general market rates.
Reduced investor population to less than 50% soon after the conversion.
Condo association able to use increased reserves to bridge conversion costs for differ participants and still afford to complete capital projects
Results From the Converstion of 109 Lefferts
| Value as a Cooperative (40% Increase) | |
|---|---|
| Add: Obligation (Fees & Closing Costs) | |
| Total Investment | |
| Condominium Values after Conversion | |
| Net Increase in Wealth (Equity) |