The building’s longtime owners handed it off last week to Fat Property, and the new landlord’s turned around and listed one of 10 units inside for lease already. Built in 1965, the structure grabs some frontage on Stanford St. — pictured above — but most of its exterior and adjacent parking lies to the north along Colquitt.
- 4202 Stanford St. [HAR]
Ah, thanks for the story. It’s getting harder and harder to offer 1 bed units for under $1k/month but we still have ’em. Not going to link to this listing (I think we have 1 unit open there from the previous owner) as it shouldn’t be hard to find.
Luckily on some properties, the tax bill hasn’t gone up so much that keeping units under $1k/month is impossible. Taxes have by far been the biggest driver (for us) in having to raise rents. But we’ve kept our Montrose “all bills paid” studio units under $900 (and some as cheap as $800) — and those really haven’t changed price in years.
I’m wondering how long some of these older buildings will last. It seems each time I drive around the area, one more is being knocked down (or *heavily* updated and re-rented at a much higher price)
Living in the neighborhood, I wish a lot of these apartments would be updated. Given the condition of other properties owned by the same, I am almost certain it will never happen to this one. Trash, discarded mattresses and furniture piled on the sidewalk and street, loud out-of-date AC units, overflowing exposed dumpsters, and residents using the street as a a permanent place to park brings down the quality of life for everyone in the neighborhood. Tax bills rise slower on depreciating property…so yes, they are under a $1,000 per month.