Last month, we wrote Subsidized housing in Del Mar, wherein the dopes who were paying somewhere around $19,000 a month to "own" a condo were offering it for rent for $6500 a month.
Oops. A couple corrections are in order:
First, the condo for rent (1355 Stratford) was not the same condo as the one that had sold for $2.55 million (1426 Stratford). I was confused because they were on the same block, had similar architecture, and 1426 Stratford had a "For Lease" sign in front of it while 1355 Stratford was the only one showing up online. It looks like the owners are into 1355 for about $1.6 million, so their carrying costs are more like $13,000.
Secondly and more importantly, though, it seems they may have meant $6500 per week, as they have now changed the rent in the ad to $25,000 per month.
Now, those of you who don't know Del Mar might think $25,000 a month is high for rent. Let me assure you, those of us who do know Del Mar think it's friggin' ridiculous. Nice homes can be rented in the area for a fraction of that price -- a very small fraction of that price.
So, it's not subsidized, but it's still available if you've got $25,000 burning a hole in your pocket and you've given up crack and hookers.
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