Mammoth Foreclosure of The Week–– The Westin Monache #616 So here’s a nice 1 bedroom and 1 bath unit located on the upper floors at this popular project. Beside being located adjacent to the Village Gondola and the Village proper and all the shops, restaurants and bars, the Westin Monache is also known for its lovely pool and spa area. And of course all of the Westin touches. This unit is in fine condition and is ready to go back onto the Westin rental program (it was when it was foreclosed on). All it needs is to be be reset by the maids and away you go! This particular 1 bedroom floorplan is 549 square feet and the deck looks north to Gondola track and the Mammoth Knolls and overlooks the entry area of the property. The common area fee is $729/month which includes everything except the electric bill. This is a luxury crashpad with some nice income potential too! Just listed at $194,900
Nice … until I got to the $729 a month common fee.
Seems all Mammoth common fees are high because of snow?
What complexes have most reasonable (Cheap?) fees.
What kind of revenues are these units seeing on the rental program in Dec/Jan? 30% management fee?
The baseline common area fee for 1 bedroom units in Mammoth is right around $300 per month. There are a couple of projects that are slightly less than that. Even a project like the Summit that just had a major special assessment for exterior improvements ($40K+ for a 1 bedroom) still has a fee of $300-400 per month. Some condo projects (like Sierra Manors) even have water/sewer fees on top of that (about $33/mo). The condo hotel projects like the Westin have the gas heat included as well as other utilities. At the Westin that also includes the cooling because of the true climate control in the units. Yes, snow and ice removal/management is expensive and labor intensive.
The rental revenues during the end-of-the-year Holidays are strong and can represent 25% of the gross for the entire year. But actual milage can vary. The Westin’s management fee is more like the 55% range.