What do you get when you take a cheap, run-down $450-a-month apartment in a bad neighborhood and call it a condo? Rich! That is what this apartment owner is hoping for. At 595 square feet (55 square meters) this newly refurbished largish 1-bedroom-closet is now on sale for $120,000 – and it comes with covered parking! Since laundry machines are so bulky and noisy these master-planned luxury units offer luxury laundry rooms near the pool. With such wonderful digs in your newly improved neighborhood and the expensive pool and grounds maintenance costs, owners will be paying on average $140 in HOA fees, but that includes water and trash. So your walls are still paper-thin and the neighbor stomping upstairs is guaranteed not to be moving out soon – this place is all yours for the rest of eternity.