Great Real Estate Investment Opportunities For St. George Condo Rental Properties
Cash flow is back in St. George, Utah at the Las Palmas condos at the Green Valley Resort.
Prices have recently come down enough to where purchasing a second home or an investment property can make sense financially. The Las Palmas condos are one of a few condo complexes in Saint George that nightly rentals are allowed. Together with its 6 pool and resort amenities make it the ideal place for a second home or investment property.
See the bottom on this page, Green Valley Resort, for a list of all the Real Estate for sale at Las Palmas:
Sale prices peaked in 2007 at around $230/sq foot for the newer Las Palmas condos. Now you can pick up distressed condos for around $100/sq foot.
Vacation rental rates for these condos have now stabilized and we now show many of these condos will cash flow when placed into St. George Vacation Rentals rental pool.
Las Palmas 2113 – $121/sq foot
For example, condos 2113 is listed as a short sell. The bank has been difficult to work with. It’s in the newest building at Las Palmas built in 2007. The 3 bed/2 bath condo is listed for just $213,000. Click here for a cash flow analysis estimating expenses and income.
Las Palmas 308
Another great deal is a 1 bed/1 bath condo, Las Palmas 308, listed for just $81,500. It’s a Fannie Mae owned condo which means the bank will pay the closing costs and approve the financing. That’s very attractive as loan in condo complexes are very difficult to get these days. The condo has been listed for a while. I’m pretty sure the bank would negotiate down to about $71,000. These deals will not last long. For further information information, please send us an email to reservations@stgeorgevacationrentals.com.
