Arlington Village
1998
Arlington, Virginia
Property Information
Location | Arlington, Virginia |
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Number of Units | 60 |
Before Conversion as a Co-op
Limited Equity Co-ops which were selling at low values in this Section 8 Project
Both the individual interior units and common elements were in need of major replacement or remodeling.
Almost all owners were residents and wanted to keep their homes after conversion.
After Conversion as a Condo
Condos gained value immediately following conversion.
A special “Conversion/ Rehab/Permanent” hybrid financing was used to provide funds for much needed projects and interior rehabs.
ROA assured NO displacement giving each owner an opportunity to own their own homes as real property.
Results From the Converstion of 109 Lefferts
Value as a Cooperative (40% Increase) | |
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Add: Obligation (Fees & Closing Costs) | |
Total Investment | |
Condominium Values after Conversion | |
Net Increase in Wealth (Equity) |