Just Sold Senior Condo: 351 N Ford Ave, Fullerton

I just helped a good friend of mine buy a studio condo in Fullerton. Yes, Fullerton. If you are thinking, Ellis what are you doing in Fullerton, well as I said it was a friend of mine and as it turns out didn’t take too long to drive out there.

One of the things I love about being a Real Estate Broker is getting outside of my area and seeing other parts of LA. Earlier this year I also helped some friends of a very good friend buy a SFR in Norwalk but that’s a different story entirely.

So all I ever knew about Fullerton was that it is where Fender Musical Instruments were originally from. I was never really a Fender guitar player (think Stratocasters and Telecasters) but had some Fender amps I really liked. And everything came from Fullerton CA. But you aren;t reading my blog to find out about my past life as a musician so let’s get back to Real Estate.

There are a number of properties that are legally designated as being restricted to owners who are 55 years old or older. if it is a married couple, one has to be over 55. Yes, this is legal. Typically, these properties sell at a discount to what the price would otherwise be because the potential pool of buyers is smaller. In areas that I am more familiar with, such as Redondo Beach, often the age restricted condos may be found on land that isn’t as desirable (abuts commercial) as regular condos. In some areas, like around Palm Springs, you will also find SFR complexes that are age restricted.

For many people, these properties are great deals because of the cost savings. Additionally the lower price and cost savings often enable people to stay close to family at an age when they otherwise would be downsizing.

With an aging population I’m expecting units like these to increase in value over time and become more desirable.

Check out this super cool, top floor, end unit with no common walls. It has been entirely remodeled and there is a Murphy (pull down) bed which isn’t visible in the pictures.