Like so many others before you, Garage Condominiums, sometimes called Storage Condominiums are a relatively new concept and little is known about them so many questions ensue. So new in fact, we are really not sure what they are called.
While this concept is new, it is gaining acceptance nation wide as an alternative to the typical Self Storage rental model. Self storage is great and it does has its place in this world, but the main problem is self storage generally only has smaller units, designed for household storage. When you try to store a car or a large vehicle like an RV, there are few alternatives.
The other issue is with Self Storage, your monthly costs generally escalate with little to no control on your part. That is a problem. Further, access hours and what you can actually do with your rental unit is very limited.
These are problems we identified and solved with the creation of Storage Condominiums.
Each unit is privately owned, very similar to a single family home. You get a Deed, title insurance, and transactions are handled through a title or escrow company. Access is generally 24 hours a day, and your unit usage is generally unrestricted, with just some common sense restrictions.
The best part is you are insulated from continuing rental rate increases, and you can enjoy value appreciation while at the same time, reducing your monthly costs.
Since you own your unit, you can improve it pretty much any way you wish. Add a loft, wet bar, epoxy or tile flooring, internet, TV, furniture and the list goes on. Storage condominiums fill the gap between Self Storage and full warehouses. Think of them as a personal warehouse, without the warehouse cost.
The purchasing process is simple, safe and rather fast. We use a title company for our transacitons. First you would complete a Sales Agreement, spelling out the terms and days needed to close, generally about 30 days. The contract and your initial deposit check are handed over to Title. They will begin to process the contacts and perform a title search on your property. Things like existing liens or title issues will come up then, if any. All items that show up from the title search are solved before you close the transaction. Once all the documents are signed, then they issue Title Insurance, paid by the seller of the property, that guaranties your ownership is free from any liens or encumbrances. Then in 30 days, you will receive a Deed to your unit, and the keys. That is all there is to it.
The concept of storage ownership has been proven to work and works well. In another project I built in Beaumont California, called Eucalyptus at Beaumont, there have been approximately 27 resales as of March of 2018. Those who sold their storage condo, everyone, yes EVERYONE walked away without spending a single penny on their condo. All costs were covered, plus everyone put a nice profit in their pocket.
Prices at Eucalyptus at Beaumont have escalated about 50% in the last three years, and from all appearances, there is no end in site.
So does owning your own storage makes sense? You bet it does.
A collection of high end storage condominiums ranging in size from 650 to 5400 sq ft. Perfect for car collectors, RV owners, ATV's and other really fun stuff.
Turn your rental dollars into an asset class investment.
W.H. Brown, Inc
4006 Aladdin Dr.
Huntington Beach CA 92649
714-928-0527 Cal BRE #02016837
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