Leisure World Map
Having shown and sold properties in this community, I can actually give you a pretty good run down on the different types of properties of which there are 4 basic varieties. The most common structure which probably makes up about 80% of the structures is the one that most people are familiar with, it is the long single level building with patios on either side, where there are units on both sides of the building.
These builds vary in price based upon the following characteristics:
1) Some units are 2 bedrooms and some are 1 bedrooms
Typical Single Story Building
2) All corner units are 2 bedrooms – corner units will obviously sell for more, as they have better light and more patio space.
3) Some units have been extended or expanded – Basically this means that the owner built out into the patio, as can be seen in the photo to the right. Corner units will have the benefit of being able to build forward and still preserve some patio space.
4) Location – Probably most important is the privacy and scenic factor or the greenbelts. Opening to a greenbelt would be most desirable, and not staring into an adjacent unit. Other considerations location wise is the laundry facilities as these are contained in a separate building, and the proximity of the covered parking.
That is most of what you need to know about this community. Now the following are a couple of less common building types in Leisure World.
Two story means two baths – At the Seal Beach Blvd entry, if you stay to the right there will be two story buildings. The units themselves are single level, so you either have a top floor unit, and have stairs to deal with, however most building owners have put in an elevator. Or you are on the lower level. Other than the benefit of the 2nd bathroom, these units are a little more spacious with a formal dining room.
The one unique model is the “Atrium” model. While the “Atrium” unit still only has one bathroom, the unit functions like a little home with a centrally located atrium, so there is plenty of light and a spacious feeling. All of the “Atrium” models are single level, and are not very common.
All of the above types of Leisure World properties are financed as a Stock Cooperative, which basically means that you have to pay all cash. The only building that from a financial standpoint functions like a regular finance-able property are the high rise condo building right adjacent to Seal Beach Blvd just south of the main entrance. These units are treated just like any other building and buyers can obtain a loan against the property.
Buyers are required to meet certain minimum physical requirements, something in between being disabled and Navy Seal fit. Just joking to see if you are still awake! And buyers also must meet minimum financial requirement. If memory serves me correctly, it is a minimal amount like 4 times the association dues, so you don’t need to be Warren Buffett or even his secretary.
While Leisure World is older and has modest accommodations, I have almost never heard of anybody who wasn’t very happy living there. I would say that out of 100 people I have know or met, that live in Leisure World, 98% of them like living there very much.
We invite your call, should you have any questions regarding the future sale of your Seal Beach property.