During the real estate boom in the Phoenix Metro Area, "Condo Conversions" are were popular, bringing affordability to areas typically built-out - like Scottsdale, Tempe, Central and North Phoenix. They still provide an affordable alternative and are also popular with vacation home owners due to the ease of maintenance.
**CLICK ON THE SUB PAGES UNDER "CONDO CONVERSIONS" ON THE MENU TO YOUR LEFT TO SEE COMMUNITY INFORMATION BY CITY OR AREA!**
Shown: Riverwalk in Phoenix/Tempe, top; 3rd Ave Palms, Central Phoenix, bottom.
What is a "condo conversion"?
A developer or project manager purchases an existing apartment community, and remodels it. This could mean anything from update the paint, appliances and flooring, to a full 're-plumb/re-wire/re-sheetrock' updating. They change the property type from 'apartment' to 'condominium' with the county tax assessor, and sell the individual units as condos.
Who is the typical condo conversion buyer?
This is a very diverse group -
*Move-down buyers who want a nice home, centrally located;
*First-time buyers who want the convenience of living in town, but aren't ready for a big house payment;
*Investors who will flip them immediately at completion, or rent them either short-term or long-term as they appreciate (some conversion projects appreciated 20-50% between Phase I selling and completion!);
*Move-in buyers who bought in the suburbs because they wanted a new home, but now desire a shorter commute - the condo conversion gives them the location as well as a 'new' home.
Please remember that we are independent Agents and represent you - not the seller - on the purchase of any condo listed on this website*. There is NO COST TO YOU!
Please contact us at firstname.lastname@example.org for more details, to pre-register for a community, or to be notified of upcoming projects!
Adam Tarr PC