Aliki Condos in Daytona Beach - 10 to choose from.
If you drive north on Atlantic Avenue in Daytona Beach before you get to Ormond Beach, there are several high-rise oceanfront condominium buildings. Aliki Condominium is at 2828 N Atlantic Ave.
This 120-unit Condominium was built in 1973 by Andy Xepapas and was given his wife’s name. It is one of the most popular condominiums in Daytona Beach.
Three months minimum rental restriction, pets are allowed. The 21-story building has undergone substantial renovations recently, and is now ready to please owners and guests.
2 bdr/2 bath units have floor-to-ceiling windows and wrap around balconies. Views of the ocean from any unit in the building and view of the river from the 6th floor and above.
Prices in 2005 reached $475,000. Today the lowest priced unit on the South side is only $189K. Unit 1504, which was sold in 2005 for $475,000 (not even direct oceanfront) is now for sale for $299,000, but by today’s standards it is as high as $475,000 in 2005. And at $299,000 this unit is the highest priced listing in the building.
My eyes have not used to these numbers. I have forgotten these prices. When I had a distressed sale there a couple of years ago, and the Listing was for $329,000, we all thought that it was dirt cheap.
It is funny how time changes the perception. 3 years ago I was offering an investor an oceanfront condo for $212 a sq. ft., which was an absolutely lowest price in the area, and he was saying that he would not buy for more than $150 psf. I thought he gotta be crazy, as how could that be. Now we do have prices at $150 psf, but the investors are afraid of $150 now as they were of $250 2 years ago.
P.S. When you read it, you can easily change the tense. Because soon it will become the past tense. And we will be talking about how one could buy a condo for only $150 psf, and didn’t. And everyone would be thinking, why?
Does it make sense to buy for $145 psf while the prices were $365 psf? Of course. But if you noticed, I am not saying they will be $365 psf. I am saying that they WERE at $365 psf, and it is not that we do not know whether they WOULD ever go back, they would. What we do not now is WHEN.
Remember the crisis of the 80s? Nobody would ever buy; the prices will never go back again… ever… But they did. Did they stop there?
No, they went way higher.
If you are looking to take advantage of low prices, give me a call at 386.405.4408