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Canoga Park: First-Timers Snatch up Cheap Condos

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Bubble? What bubble? After an 18-month renovation, Vassar Villas in Canoga Park sold out its first phase in one week. Sure, the first phase is only six units. And the condos, priced for "first time homebuyers in the low- to moderate-income range," sold for only $269,000 to $339,000. But these are two-bedroom and three-bedroom units, each with two bathrooms, stainless steel appliances, marble bathrooms. And no popcorn on the ceiling. What could possibly be the downside? Oh. Right. Canoga Park. Phase two now available.
· 7254 VASSAR AVE #204 [Redfin]
· Condo Conversion Sells First Phase in One Week [Multi-Housing News]
· Vassar Villas in Canoga Park [CondoWest.com]