Awesome end unit Lake Shore ALL BRICK condo - 1221 Capability Drive, Unit 104 - FOR SALE.

See pics: http://www.pruysu.com/1781364

Four level end unit condo on Centennial Campus
Upper Terrace and Main level deck
3 BR, 3.5 Baths
All appliances convey, including stacked Washer/Dryer and Refrigerator
Gas Range, Hood and Microwave, Dishwasher all GE Profile
Bonus room on Lower Level can be office, weight training room, wine cellar, use your imagination.
Access to Wolf Line
Windows galore
Great Views of Lake Raleigh
Close to State Club for Members-only golf and great social and dining options
Walk to Work
Walk to Class
Explore Downtown!

For More Info, Contact:
Patricia Denz
Realtor, Prudential YSU Realty
919-227-7327
patricia.denz@pruysu.com

[Edited on May 4, 2011 at 5:30 PM. Reason : tried to post HTML content, did not work]

[Edited on May 4, 2011 at 5:32 PM. Reason : bad link]

5/4/2011 5:18:55 PM

Epic Fail. You have to be a premium user to post HTML.

5/4/2011 5:24:18 PM

price?
HOA dues?
leaks been fixed yet?

5/4/2011 9:37:22 PM

is that really what a quarter-mill gets you these days?

5/4/2011 9:52:05 PM

No price or square footage.

Another fail.

5/4/2011 11:06:14 PM

On the one hand, it does look nice.
But 250K for 1650 Sq Ft?

It is near State..Not Time Square.

5/4/2011 11:18:24 PM

the architecture is horrendous. it looks like someone went into auto-cad and drew a box with some more boxes inside it and then added a brick color to it.

5/5/2011 12:05:47 AM

Ive been in a few of these properties on centennial campus. From my personal experience in visiting the properties and doing a walk thru its going to be a number of years before the campus grows up around it for the properties to be fully utilized. It could be an interesting property to own in times to come from the perspective of being a landlord. Unfortunately for now, these properties leave alot to be desired considering you can have a yard for 75k less than these properties list for. But then again location is everything and right now you can own a property on a campus where no student housing exists. How foreign does it sound having private residential properties on main campus? Food for thought..

5/5/2011 12:13:35 AM

this is a block from my office... that'd be pretty damn convenient

5/5/2011 1:25:59 AM

it's set up as a condominium w/ 99 year lease on the land from ncsu iirc. could be interesting when the 99 years are up

[Edited on May 5, 2011 at 2:33 AM. Reason : &c]

5/5/2011 2:26:02 AM

lol, if anything is priced above $10 it is immediately flamed on tww.



that being said i'm renting one right now, they are nice places and the location is perfect. If you are looking for a place to rent I highly recommend checking one out. As for purchasing, I personally wouldn't pay 225k for these homes, but I'm sure other people would be interested in it.

5/5/2011 10:21:59 AM

I used to live next door in 103, I guess the guy who owned it has both of his sons that lived in it out of school now.

5/5/2011 10:43:42 AM

I'm happy to help answer questions on Patricia's behalf. I have lived in North Shore since January 2004 and I own a home there. I love it. The amenities offered on campus are second to none - disc golf course, golf course, miles of greenways, floating docks, boat ramp for non-motorized boats, just off I-40, 2 miles to downtown, 1.5 miles to I-440 & the list goes on...

5/5/2011 11:16:53 AM

I remember looking at these condos when they were being built. IIRC, the homeowners fees were $0.10/sq. ft.. In this case, that would translate to $162/month. I don't know what that includes or if that amount is still valid.

5/5/2011 5:57:18 PM

HOA is actually $180/month. It covers the insurance on the building, grounds maintenance, the monitoring of the sprinkler/fire systems (each unit has its own dedicated phone line for the fire alarm), etc. That fee was ultimately supposed to cover a pool, gym, concierge, etc....however, with only 32 units, we can't support additional infrastructure.

5/5/2011 6:55:19 PM

is this is the development were the developer went bankrupt and up and left ?

I remember their being a lawsuit involved as well. ?

5/5/2011 9:53:48 PM

^ yeah the developer went belly up..the complex looks half finished..the properties look cool from the exterior and have a great location if you want to be near centennial but i think the layout of the units are not well planned..each floor is too small and the stairs are too much..they are definetly a novel thought though in terms of housing on a college campus..i could see NCSU trying to buy out all the owners in the future very long term though..i think the property will definetly become more valuable as market conditions improve

5/6/2011 12:39:34 AM

what is the problem regarding leaks?
and what WOULD ppl pay for this condo?

5/6/2011 9:20:21 AM

The smaller units lease for an average of $1,400/month. They range from $1,250 - 1,600/month, depending on the owner.

The developer is not belly up...yet. It is Craig Davis and he is also developing a 145,000 SF Alliance Center at Main Campus & Varsity.

The University has terminated his land lease and future rights of development of North Shore, which is what is currently under litigation. I believe that he originally had GE Capital behind him when he was developing this, but that funding has since evaporated.

When he stopped construction, there were 12 units under contract (pre-sold) that remained under contract for one year. It wasn't until there was no hope that he'd complete the complex that those contracts got cancelled.

These units were selling for $256,000 on average two years ago...price has come down back to $215 - $230,000/unit.

5/6/2011 10:51:47 AM