Rocco Lagano, Real Estate Pro in Bergen County, NJ

How are the tides at pelican landing at walden center? Is it a good location and easy to rent? What kinds of rents can you expect for a 2/2?

Asked by Rocco Lagano, Bergen County, NJ Thu May 10, 2012

It seems like a very nice development and close to the beach.... any advice is greatly appreicated.

Thank you!

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8
Great location meaning close to the beach may or may not outweigh the 3 story buildings without elevators and next to US41. Additionally, most of my clients don't care for the gally kitchens and smaller liv/din area. Happy to help you if you would like to look into other ideas before you make your decision.

Sarah Garrett, Realtor
ALLIANCE REALTY GROUP
"Chosen Best in Client Satisfaction 2006-2011" by Gulfshore Life Magazine
Cell: 239-464-8620
Email: sarahgarrett@argfl.com
Web Access to MLS:
0 votes Thank Flag Link Wed May 16, 2012
Great location near Coconut Point, restaurants, shopping, etc. The issue I have with the community is the fees. Between $365-423 month (paid Quarterly) + your property taxes of approx $115 month (paid annually) = $480-$540 Month...rents are about $800-$900 ( this is from the manager in 2010 ) a month depending on the size. Not much left for ROI.
Better Investment in my opinion is a SFH in Fountain Lakes, same area, Approx $200,000 for a 1500 sf 3/2/2 with fees of only $75.00 month. Rents run about $1400-1600 month. Taxes run close to the same.
Community is easy to rent with, Resort Pool, Par3 Golf, Great Fitness center, Bocce, Billiards, Kids Play area, Etc.
Web Reference: http://tinyurl.com/85ptwbo
0 votes Thank Flag Link Thu May 10, 2012
thanks.. the fees are a bit high.. are there any other good investments around 100k that have decent fees and can be rented pretty easily.. I am not working with anyone so if you have something let me know..
Flag Thu May 10, 2012
I'm with Scott......but it is a great location. My question is....don't you already work with a broker?

jessemcgreevy@gmail.com
239-898-5329
http://www.Domain-RealtyGroup.com
0 votes Thank Flag Link Thu May 10, 2012
not yet.. looking for investment property right now.. under 100k that can be rented for cash flow form day 1
Flag Thu May 10, 2012
I've been there a lot in the past few weeks. It's one of the best locations available at that price point. Coconut Point is literally in walking distance and the beach is only a short drive. Rentals have been fairly good there and depending on the condition of the unit, I've seen them anywhere between $900 and $1200.

If you're contemplating purchasing one as an investment, I'd love to help. Please contact me if you have questions about a specific unit. I've been in most of them that are currently Active listings.
0 votes Thank Flag Link Thu May 10, 2012
It is in a great location. It was an apartment complex that was converted to condos and sold at the peak so there is a lot of foreclosures and short sales that have worked their way thru. HOA fees are high and it would be wise to check into the strength of the HOA because of the amount of defaults in the complex. You want to be sure there are no special assessments passed on to you because of other owners not paying HOA fees.

Let me know if I can help. Live right down the street.
0 votes Thank Flag Link Thu May 10, 2012
Actually Pelican Landing is not that close to the beach. Naples geography is more lined up for the beach and we think ROI is much better in Naples. Having said that, Pelican Landing is still a great community though. We would be happy to represent you in a transaction, just contact us direct. http://www.naplesrealestateguys.com/bonita-springs-florida/p…
0 votes Thank Flag Link Thu May 10, 2012
Keep in mind it is wood construction and the sound barrier is minimal. There've also been a lot of short sales and foreclosures in the community. It was built in 1999 as an apartment complex and they converted it over during the boom.

Scott Riddle
239 289 1849
0 votes Thank Flag Link Thu May 10, 2012
Did you hear about any lawsuits still pending against the builder/developer regarding construction? I have a buyer interested and heard maybe 1 year ago they had a lawsuit, does anyone know?
Flag Wed Jan 23, 2013
The rent will be approx. $950-$1050 per month on annual unfurnished lease. Its a great location close to the beach and across the street from the Coconut Point Mall (high end shopping and dining).
0 votes Thank Flag Link Thu May 10, 2012
thanks Mary! appreciate the quick response and your opinion
Flag Thu May 10, 2012
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