Pros and Cons of Purchasing a Stock Cooperative

There are several advantages and disadvantage to purchasing a stock housing coop in California. Some of the advantages and disadvantages follow:

Pros to Acquiring a Stock Coop (Apartment Style)

  • Compared to a similar condominium, a co-op is substantially less costly per square foot to buy.
  • The owner occupancy rates are generally higher, making for a more stable community.
  • The rules for buying or renting a cooperative housing units are generally far more restrictive than for condominiums which tends to reduce the number of tenants in the community. Most boards have the right to interview prospective buyers and tenants and approve their qualifications, provided they don't engage in unlawful discrimination.

Cons to Acquiring a Stock Coop (Apartment Style)

  • The down payment requirements are generally 10% to 25% as opposed to condominiums where the down payment can be as low as 3.5% with FHA financing or 10% with conventional financing.
  • Obtaining financing is more difficult as there are a very limited number of lenders that make cooperative housing loans.
  • It is more difficult to rent your coop if that becomes necessary or desirable for the reasons stated above.
  • You may be required to sit through an interview by the board of directors and be approved.
  • Many coops have the right of first refusal to buy an owner's cooperative share before they can sell it to another person. This often makes the selling process more difficult.

Housing Cooperatives in Southern California - Apartment Style

Acama Ardmore Cooperative Estate
Studio City

Burbank Angeleno Cooperative

Canyon Ardmore Cooperative Estate
North Hollywood

Clover Manor Cooperative
Los Angeles

Coldwater Ardmore Cooperative Estates
North Hollywood

Coldwater North Cooperative
North Hollywood

Coldwater Peyton Cooperative

Colfax Ardmore Cooperative Estates
Studio City

Fountain Park Cooperative
Woodland Hills

Gardena Valley Towers

Heatherdale Home Cooperative
North Hollywood

Moorpark Ardmore Cooperative Estate
Studio City

North Del Amo Pacific Cooperative

Oxnard Ardmore Cooperative
North Hollywood

Palm Terrace Co-op

South Bay Co-op Apartments

South Del Amo Pacific Cooperative

Queensland Manor North Cooperative
Los Angeles

Queensland Manor South Cooperative
Los Angeles

Housing Cooperatives

Manufactured Homes - Mobile Home Parks

Camarillo Springs Country Club Village

Casa Mobile Home Cooperative

Culver City Terrace
Culver City

Grandview Mobilehome Park

Hillview Estates
Santa Paula

Hollywood Beach Mobile Home Park

Marineland Mobile Home Park
Hermosa Beach

Malibu Village

Nu Way Mobilehome Park

Oak Forest Mobile Estates
Westlake Village

Point Dume Club of Malibu

Poinsettia Gardens

Rancho Adolfo Mobile Home Estates

Rancho Ventura

Seal Beach Shores
Seal Beach

Seminole Springs Mobilehome Park

Shull Gardens Mobile Home Park
Bell Gardens

Stallion Meadows

Top of Topanga

Village Mobile Home Park

Windward Village
Long Beach