Called the First Greenbrae Co-Op, this beautifully maintained apartment may be the best residential value in our area. Currently, this two-bedroom one bath, one car garage unit is priced perhaps as much as $100,000 less than an equivalent sized condos in Reno or Sparks. While a great value, the particulars of co-ops remain an enigma to most. When you purchase this unit, you will be given a share of stock of that co-op, not fee-simple title as in normal real estate purchases. Also, there are no escrow or title fees, only a small transfer fee ($250). Sound too good to be true? Well, there are a few restrictions on ownership: You must “apply” to own one and be approved by the co-op Board, which requires that one owner be over 55, and that each unit be owner-occupied. When you purchase your share of stock, you must pay cash, as liens are not allowed to secure your purchase. Pets are forbidden, except for service animals, and none of the units have washers and dryers (there is a centralized laundry area). While the $350 monthly co-op fee may appear high at first impression, this fee covers your property taxes, furnace, hot water heater, and exterior property maintenance, as well as water, trash pickup and grounds keeping. Seniors with a small nest-egg looking for a nice quiet retirement community wishing to release themselves from exorbitant and continually rising monthly apartment rental expenses might want to give this residence a closer look! This is a CO-OP, not a Condo. Very well maintained complex with beautiful mature trees. This is a 55+, owner occoupant only, end unit residence in a great location close to shopping and public transportation. The carpet and laminate flooring are only 3 years old, and the double pane vinyl frame windows are only one year old. Sellers have recently installed a high tech LG 12,000 BTU wall air conditioner. This unit has a one car garage with opener and a community laundry facility. Listing Agent: Lawrence Johnston Email Address: [email protected] Broker: Chase International-Damonte
Information deemed reliable but not guaranteed. All measurements are approximate. MLS® numbers are provided where available. NewPoint Media Group, LLC is not affiliated or associated with The Canadian Real Estate Association or any other owner of the MLS® word or design mark in any geographic area.