Westin ‘Monache’

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The Westin Monache

The Westin ‘Monache’ was built in 2005 just uphill from The Village at Mammoth and is 7 stories high. The Monache (named after a local tribe) offers all you would expect from the West brand, including the ‘Heavenly Bed,’ gym facilities, kids programs, concierge service, valet parking, shuttle service, conference facilities, pool, spa, dining (the Whitebark restaurant) and ski lockers.

AUCTION RESULTS:

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The Westin auctioned off 18 condos on September 13th, 2010 in Costa Mesa at 7:00pm.  There were approximateyl 175 people in attendance, including a few onlookers and real estate agents.  The auction company achieved their goal of getting enough people in the room to compete against each other and bid the prices higher than what I consider to be market value.  Total sales tonight were $4,432,000.  The only good deal may have been the 2-bedroom for $436,000.

 

CONDO # Bedrooms Plan SqFt HOA Dues ($/mo) Minimum Bid Rental Income History (2009) * Recent Sales Recent Sale Room # SqFt $/sqft Date
#136 1 F 778 740  $        149,000  $            8,288  $      195,000 #206 (REO) 549 $355/sqft 7/22/2010
#230 2 C5 994 750  $        279,000  $          23,850  $      570,000 #302 1018 $560/sqft 12/22/2009
#342 1 B5 549 735  $        149,000  $          17,103  $      259,000 #323 616 $420/sqft 8/4/2010
#416 1 B5a 549 687  $        149,000  $          16,352  $      259,900 #432 603 $431/sqft 4/30/2010
#506 1 B5 549 740  $        149,000  $          18,671  $      250,000 #638 549 $455/sqft 3/26/2010
#513 1 B5 549 750  $        149,000  $          20,958  $      250,000 #638 549 $455/sqft 3/26/2010
#516 1 B5a 549 750  $        149,000  $          19,340  $      250,000 #638 549 $455/sqft 3/26/2010
#520 Studio A7a 468 700  $        129,000  $          19,279  $      185,000 #407 484 $382/sqft 7/29/2010
#535 Studio A5a 478 700  $        129,000  $          26,065  $      185,000 #407 484 $382/sqft 7/29/2010
#542 1 B5 549 735  $        149,000  $          24,769  $      275,000 #638 549 $455/sqft 3/26/2010
#613 1 B5 549 750  $        149,000  $          19,426  $      275,000 #638 549 $455/sqft 3/26/2010
#634 Studio A5a 478 720  $        129,000  $          21,926  $      259,900 #744 463 $561/sqft 7/30/2010
#635 Studio A5a 478 675  $        129,000  $          20,371  $      259,900 #744 463 $561/sqft 7/30/2010
#705 Studio A5 463 700  $        129,000  $          29,914  $      259,900 #744 463 $561/sqft 7/30/2010
#719 1 B2 591 693  $        159,000  $          23,262  $      280,000 #632 603 $456/sqft 3/5/2010
#733 Studio A5a 478 720  $        129,000  $          28,301  $      259,900 #744 463 $561/sqft 7/30/2010
#736 Studio A5a 478 716  $        129,000  $          25,235  $      259,900 #744 463 $561/sqft 7/30/2010
#742 1 B5 549 750  $        149,000  $          32,799  $      280,000 #706 549 $510/sqft 7/2/2010

 

* Gross rental income for 2009 as reported by Intrawest Hospitality Management. Occupancy for auction units may be lower than other units as management may not have had these units available 100% of the time. Income can vary depending on amount of owner usage, condition of property, amount of snowfall, and other factors. Buyers should not buy property based on the prospect of rental income.

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