Some apartments in Berkeley are having to accept lower prices, but not these guys. According to their registrations, they turned the whole building this month at $9000 - $11,900/mo for 3-4bd units. I will be very interested if they repeat that next year with a large new building across the street.
I don't know what their marketing secret is but they occupy this niche alone. Nobody else is out here charging $12k/mo.
4 wealthy college students/parents paying $3-4k a month. I can see it. Maybe they can fill it.
that's the same building with streaks of bird shit staining the black walls white?
The very one
with those rents, you'd think the building management would invest in a pressure washer
If they gave huge discounts on the first year's rent, would that be reflected in your data?
Given that they turned over every unit in the building in the last 2 weeks, I don't think anyone is going for multi-year leases.
make me wonder, "scam?"
Yeah, that's my point: landlord says the rent is $12k for whatever reason (mortgage? investors?) but gives a $4k concession in Year 1 and turnover is 100% for Year 2, since no one will pay above market rents.