Posted January 22, 200916 yr Hello: After living in North Carolina for the last 14 years, I will be returning to Ohio and relocating in Lakewood. I am interested in the "Goldcoast" area. My question's are for those forum members who reside in one of the condo complexes. What is your overall impression of: 1) Lakewood itself 2) the Goldcoast area in particular, and 3) what you like and dislike about the particular condo complex you reside in? I am looking at a real estate listing(s) for units at the Berkshire and the Shoreham at this time, but open to other complexes. Thank you in advance for any information you may provide. Don
January 22, 200916 yr Don- I live in Lakewood and have a great time. I dont live in the gold coast area, but at the west end. If you live near Detroit, Lakewood is probably one of the more walkable areas of town. The gold coast you are near a bunch of good restaurants, grocery, park, drug store, and VERY easy public transit to downtown.
January 22, 200916 yr Don, For 12 years I have lived in a condo at the southern edge of the Gold Coast (on Clifton, three streets south of Edgewater, which makes it the Bronze Coast). My building, the Coral Rock at Beach and Clifton, has these features and there are several units for sale: > seven stories tall > heated underground parking garage with one reserved parking space per unit > frequent transit on Clifton, downtown is a 15-minute trip > indoor pool on the top floor > sun deck off the pool area > party room > well-maintained > two elevators > laundry room > storage lockers > easterly facing units have balconies (like mine!) > ugly exterior but nice interiors > affordable maintenance fees > healthy budget reserve for emergencies > apartment-style configurations, mostly with two bedrooms > off-street parking for visitors > numerous shops, restaurants (two are open 24 hours), cafes, bars, drug stores (two are open 24 hours), banks, grocers, dry cleaners and more is within a 15-minute walk. Before the real estate/financial crash, units in my building were selling for $65,000 to $75,000. I'm told there are some bank sale/foreclosure sales for much less than that. If you'd like to see what my building looks like, check out: http://www.urbanohio.com/forum2/index.php/topic,13282.msg312838.html#msg312838 http://www.urbanohio.com/forum2/index.php/topic,13282.msg315080.html#msg315080 "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 23, 200916 yr KJP: I enjoyed viewing the remodel job photos. Nice work! Thanks for the extra information also. Are most of the shops, banks etc, on w.117th? I came across a couple of real estate listings for the Coral Rock building. One 2 br unit is going for $19,000. What is your overall impression regarding the crime seeping in from Cleveland? Is there an actual problem developing, or is what I read on forums elsewhere just some nervous nellie's ramblings? Does Coral Rock have a no pet policy? I have a very small dog - he likes ankles - that has been with me for 11 years. Hate to have to find him a new home. In regards to Lakewood in general, how do you think Mayor Fitzgerald is doing so far? I guess I ask only because I am concerned how Lakewood is faring in the economic mess we are in, and if his administration is up to the challenge. Go Browns! Don
January 23, 200916 yr KJP, I am just curious what the monthly condo fee is for a 2 bedroom in your building? Do you know the square footage? Thanks
January 23, 200916 yr Don: I would say the W.117 area near Detroit/Clifton/Lake/Edgewater is really safe. If you start heading more south, there are more undesireable areas. If you are going to live there and spend time outside, just utilize lakewood and the edgewater. I run through there all the time at night and never feel unsafe. SO far, I like Mayor Fitzgerald. Lakewood has a civic vision. Its a walkable town, but they definitely wawnt to make even more walkable. They are building on Detroit road, and continue to make the downtown lakewood area neat. Population forecasters expect Lakewood's population to grow in the near future...heres more info http://www.city-data.com/city/Lakewood-Ohio.html
January 23, 200916 yr Most of the shops, banks are on West 117th, but others are on Clifton a block or two from West 117th. There are other shops and restaurants farther east on Clifton. The $19,000 unit is a foreclosure. The bank is trying to dump it, but I believe it's in the basement. I'm told it needs a fair amount of work. There has been crime seeping in for a while, but it seems to go in waves every few years. It's been pretty quiet the last three years. Every month or two, you occasionally see a homeless person or a druggie. Most people are friendly, and you will meet all types of people in the area. Coral Rock allows dogs and cats, but big dogs are a no-no. There is a small grassy area behind the building for dogs. Mayor Fitzgerald is doing fairly decent so far, IMHO. No complaints from me and I covered his administration for Sun News very early in his term. Most condo units in my building range from 800 square feet to more than 1,000. My unit is 900 square feet and my maintenance fee is $300 per month. The fees are based on square footage, as is common in most other condo buildings. There are 36 units in my building. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 23, 200916 yr $19k is a steal. For that you can get a second loan for 25k (assuming the plumbing and electric to the unit is good) and create an amazing home!
January 28, 200916 yr Don, let me know if you need any other information. I hope your search is going well. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 30, 200916 yr Does anyone here have insight as to why the penthouses in that condominium are so cheap? I've seen online more than one PH unit at around $125,000. Is there good reason? Thanks.
January 30, 200916 yr My daughter was looking at a unit in the Winton last year. I went with her to check it out. Clearly, no updating had been done since they were built. Early 60's I think. This particular 2 bedroom was going for 49k and would have required complete rehab. I can only imagine that the penthouse may be in similar condition. One of the big negatives for her, was that the average age in the building had to be > 60 years! It really looked like an old folks home.
January 30, 200916 yr My daughter was looking at a unit in the Winton last year. I went with her to check it out. Clearly, no updating had been done since they were built. Early 60's I think. This particular 2 bedroom was going for 49k and would have required complete rehab. I can only imagine that the penthouse may be in similar condition. One of the big negatives for her, was that the average age in the building had to be > 60 years! It really looked like an old folks home. Yeah but a $49k apartment and $15k reno/update, is a great return. Unless you get surprised after opening up some walls.
January 30, 200916 yr No, I agree, it would have been worth it. the ROI would be good in that neighborhood. I wonder if those units are short sells?
January 30, 200916 yr Here is one Carlyle penthouse at $127,500 on Craig's list http://cleveland.craigslist.org/reo/1011725427.html And another on the MLS at $129,900 http://www.mlsfinder.com/oh_normls/jacoblohser2/index.cfm?action=listing_detail&property_id=2454304&searchkey=28a9f946-c305-b73f-57c5-36b460d59247&npp=10&sr=1 I had seen one a while ago for $125,000 I thought. Is the Caryle considered a decent building? Thank you for the responses.
January 30, 200916 yr Just keep in mind that penthouse units usually pay the highest monthly maintenance dues in a condo building. Always check what the dues are no matter where the unit is located.
January 30, 200916 yr Just keep in mind that penthouse units usually pay the highest monthly maintenance dues in a condo building. Always check what the dues are no matter where the unit is located. Yeah I generally agree. Check the fee's and any past "assessments"
January 31, 200916 yr With a high rise, the biggest trouble spots seem to be the elevators and the windows. Pay close attention to the condition of the elevators, I have friends that were stung by a special assessment for those. My condo building had to replace the windows because they were 40 years old, and I guess they were no longer insurable. The special assessment was hefty(condo assoc paid half) because they went from single pane to double pane...which involved additional engineering and structural work since it added double the weight to the structure. They were custom too, since they are huge curtain walls. If the buidling was built in the 60's/70's, new windows are probably due in the near future. Get a real estate lawyer to go over the condo docs for you to see if the association is sound and well funded with reserves.
January 31, 200916 yr Here are some photos I posted at a snowstorm discussion in this forum. These are of/from the top floor of my building in Lakewood... The water temp was 85... Note the snow piled up against the sliding door to the sun deck.... You can get a "snow tan" on these.... Look at the snow piled up outside the windows of our 7th floor party room! Those drifts are several feet high... That's Clifton Boulevard down below and the Gold Coast high rises several blocks away on Lake Erie's shoreline... The snow was letting up at this point so you could see the 30-story Winton Place in the background... This is what the views from my building look like a night... Looking east toward downtown Cleveland: Looking north toward the Gold Coast: "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
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