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We are the architects for this project. It is in fact 5 parcels with 12 units, 6 TIC's and 6 Condo's.

They will be on the market middle of September. Thanks for the positive feedback!

Just curious - how did you end up with 6 TIC's and 6 condos? Did the latter units already have condo maps before the renovation? Thanks in advance.

The limit for condo conversions is 6 units, right? Can you get around this limit by converting 6 to condo's and the remaining 6 as TIC's? Would you have to "Ellis" all 12 units? Is there any practical or legal limit to the number of units that can be converted to TIC's? Would fractional loans be offered to 12 (or more) TIC owners?

Are the six TICs all in one building? Or are they spread out into say, two 3-unit buildings? Also, I can't quite tell from the picture - is there a courtyard in the center of this compound?

If it's 5 parcels total, perhaps some (most?) of the parcels only have 2 units, which definitely speeds up the process.

cool! thanks for the info and update....this is a great building in a great location and the remodel is outstanding...I was always worried that someone would just level the place, but they're not! I just wish I was ready to buy, I'd get one of these like, immediately...

This is very off-topic, but please people, no apostrophes when something is made plural! You're too educated for that!

Chloe,

Thanks for the tip about the plural of TIC. (I assume that you were referring to "TIC's".) I found the following from the Online Writing Lab. They suggest no apostrophe for the plural of capitalized letters or numbers - but they do imply it's OK to do so (but old school):

Forming plurals of lowercase letters
Apostrophes are used to form plurals of letters that appear in lowercase; here the rule appears to be more typographical than grammatical, e.g. "three ps" versus "three p's." To form the plural of a lowercase letter, place 's after the letter. There is no need for apostrophes indicating a plural on capitalized letters, numbers, and symbols (though keep in mind that some editors, teachers, and professors still prefer them). Here are some examples:

p's and q's = a phrase indicating politeness, possibly from "mind your pleases and thankyous"?

Nita's mother constantly stressed minding one's p's and q's.

three Macintosh G4s = three of the Macintosh model G4

There are two G4s currently used in the writing classrom.

many &s = many ampersands

That printed page has too many &s on it.

the 1960s = the years in decade from 1960 to 1969

The 1960s were a time of great social unrest.

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She could have been referring to "condo's", which is certainly incorrect.

Can't wait to see how much these things will go for. How much would you pay in a falling market to live next to the ever-present screeching of the N-Judah.

I say $900K easy.