Sunday, June 21, 2009
Sun Setting On A Rental Property Empire...
Photos By John Hoff
Hawthorne's major "cluster project" economic development is the Eco-Village, and so neighborhood movers and shakers tend to follow events rather closely within that rapidly-improving four-block area. Recently, we noticed something was up with two of the rental properties of the Kleindl family...
The Kleindls--who have quite handful of properties and were involved in an epic battle over 400 31st Ave. N--have now put at least two of their Eco Village rental properties on the market: 420 30th Ave. N. and 3033 4th St. N.
(Note the house numbers, painted green and orange. So far as we can tell, all the Kleindl properties have these distinctive colors on the house number, kind of like Keith Reitman tends to paint his houses a particular shade of blue. The orange is now fading to red, but used to be a very orange shade of orange)
And you have to wonder, gee, why did these properties suddenly hit the market?
Part of the reason might involve the intense scrutiny which properties receive in the Eco Village, since this used to be a very troubled area which required superhuman effort to turn around. Part of it might just be seeking an opportunity in a housing market which is, so I hear, creeping upward.
But one can't help feeling a little sad as it appears dreams of a rental property empire have reached their apex, and are now in decline.