Leavenworth Condos

 

With all the great new condo projects going up in Leavenworth a casual observer might think that condominiums are just now starting to be built in our Bavarian hamlet.

 

Aspen Suites condo 

Aspen Suites at Icicle Village Resorts

 

In fact we have had new condos built on a fairly recently basis for the past 25 years, with a major project every 3-4 years.  If buying a new condo in Leavenworth isn't for you, you might see if there are resale units available in any of these condominium projects.

 

In 1983 it was the 17th Fairway Condominiums which took advantage of their location on the Leavenworth Golf Course. These are very large 2 bedroom units. (1400 square feet.)

 

The units at the Rothenburg, also on Icicle Road but closer to town were built in the same year. The Rothenburg has a very Bavarian exterior and is within walking distance to most of the tourist activities in town. These 2 bedroom units are also fairly good size at 1200 square feet.

 

 

  The Rothenburg Condominiums

Rothenburg Condominium

 

Summergreen Condos at the Leavenworth Golf Course were very extravagent for Leavenworth in 1984.  The 2 bedroom units were 1600 square feet and featured brick fireplaces and jacuzzi tubs in the master bath. The even had enclosed garages instead of the carports most condos offered. Of course it's the golf course location that gives these condos value today.

 

In 1987 Alpenblick came on the scene. Alpenblick has recently been the affordable condo choice in Leavenworth. This is because only 1 bedroom units were built ranging from 815 to 887 square feet.  They also built a large number of units, preventing scarcity from causing prices to soar.

 

Alpinblick Condos 

The Alpinblick Condominiums

 

 1990 brought us Kahler GlenKahler Glen is a golf course near Lake Wenatchee that doubles as a xc ski area in the winter.  The condo units here are all 2 bedroom and nearly 1300 square feet. All are right on the course which means skiing out your door in the winter.  In 1998, Natapoc Village brought additional units to Kahler Glen.  These 2 bedroom units are located on the 18th fairway.  Condos in either project have been hard to come by of late and seem to be more popular every year. 

 

Alpine Place is the name given to three different phases of condos built along Icicle Road close to town. (Just past the Rothenburg) The first condos were 525 Alpine Place built in 1992 and 1993. These are 2 bedroom units with 958 square feet.  485 Alpine Place came in 1994 with 6 larger units (1024 square feet) and then in 2003 they built 575 Alpine Place. (Also 2 bedroom units)

 

The majority of these condos are either zoned for commercial use or are located outside of the Urban Growth Boundary which means they can be used as nightly rentals. (I covered this in an earlier post.)  A few smaller projects have been built in residential multi-family areas, but without the commercial component their effect on the Leavenworth condo market has been minimal.

 

You can search all Leavenworth condos for sale on my website.

 

9 Comments on Leavenworth Condos - The last 25 years

MAY
21
2007
2 Featured Posts
Geordie back in my other life (Mortgage Banking) I financed the construction and take out loans for the Rothenberg. No one would do it so my company stepped up. All but two units sold out the first year. As I recall the usnits sold thne for 30-50000
9:24am • #1
1 Featured Post
Thanks Perrin. Do you remember what the target market for those condos was? Were they investments, vacation homes, primary residences?  I'm curious to know what the market thought of them at the time they were new. (Obviously well received if they sold so well.)
9:49am • #2
Geordie, thanks for all your local Leavenworth knowledge. I wanted to know if you have ever done the math on the condos that can be rented nightly to see how easy or hard it is to really offset a portion of your payment. As desirable as Leavenworth is for a weekend destination, I would think this would make a great vacation home/investment mix.
11:31pm • #3
MAY
22
2007
2 Featured Posts

The target market... myour kidding... "gee lets build some condos...Leavenworth is going great."

Actually about 75% were sold to locals.

9:07am • #4
1 Featured Post

Darel- I wrote about this a while back on my other blog. I think it is tricky because there are more variables than say residential income property.

It really comes down to the management of the property. Are you going to do the booking and cleaning? If so, you can really save on the management costs. (Often 40-60% of the rental rate)  But can you market it and have the same occupancy rates as the professionals?

If it is in a development that has a customer base (for vacation rentals) they can give you numbers for last year's vacancy. If you need to build a customer base, plan on having a few slow years while the customer base builds.

Talking to a rental manager at Kahler Glen, they put it this way. The rental will probably pay for your condo fees, but it certainly won't pay your mortgage.

Does a condo in Leavenworth still make a good investment? Probably. Appreciation, not cash flow, is the name of the game right now in Leavenworth.

10:00am • #5
JUN
05
2007
2 Featured Posts Hit Router
I love looking at the archetecture in your posts / photos.  It always makes me think of a European getaway.  Must be a fabulous place to live and sell real estate.
11:54am • #6
1 Featured Post

Thanks Tina. Leavenworth has a design review committee that reviews the Bavarian architecture for all new commercial buildings in town. It increases construction costs, but it really does keep the spirit of the Bavarian Village alive and well.

I am always surprised about how many folks build their own homes in a similar theme. Throughout the countryside and up in the surrounding hills you can find wonderful alpine chalets built with a Bavarian theme.

12:03pm • #7
JUN
07
2007
104,045 Points 2 Featured Posts Outside Blog
Geordie - I just realized Leavenworth was designed, "Bavarian Village" style! Do you have a lot of second home buyers?
11:03pm • #8
JUN
08
2007
1 Featured Post

Paula-

Yes, about 75% of my business is with Seattle area buyers looking for second homes. We are just a few hours away and the weather here is so much sunnier!

10:42am • #9

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Geordie Romer, CRS, e-PRO

Leavenworth, WA

More about me…

Windermere Real Estate / NCW

Address: Leavenworth, WA, 98826

Office Phone: (509) 548-4663

Cell Phone: (509) 679-8958

Email Me

Leavenworth Washington Real Estate Blog. News and Market Analysis for the Leavenworth, Lake Wenatchee and Fish Lake by Geordie Romer of Windermere Real Estate.


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