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REO BANK OWNED Condo At The Grand On The Wilshire Corridor

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The bank owned REO Wilshire Condo at 'The Grand', 10445 Wilshire Blvd. #906, received a price reduction this week of 5% or $42,570, down to $808,830. The Westwood condo was listed 21 days ago on 8/14/09 for $851,400. The unit has been remodeled with hardwood floors and an updated kitchen. However, in typical REO fashion, there probley is some slight damage to the unit or lack of care taken with the condition of the unit. Accordint to the MLS, the condo is a 2 bedroom / 2 bath, 1,722 sq ft. The Grand is a full service building; valet parking, concierge, controlled access, banquet room, switchboard, gym, pool and spa that was built in 1980. The homeowners dues are not listed, but should be somewhere between $1,200-$1,400. I would consider The Grand a "B" rated building on the Wilshire Corridor. The previous purchase price was $820,000, back in May of 2005.