Sold $1,795,000 - Investment Property
Here is another great deal for the right buyer. This has fallen out of escrow twice, but that’s because both times it was a developer who thought it could work as a profitable development project. It is now crystal clear that it doesn’t. But, it does work pretty well as an income property, i.e., one could clear about $2K/mo cash flow, and over time it would get much better once you vacated the low rent units. It works really well (which is how the present owners have had it for years) if you live in the beautiful house with a view and an in-ground pool at the top of the hill, and have the 9 units below to defray the mortgage. The house is great, the location is amazing and the future upside is incredible. Call me if you want help with this one and I will be happy to do so.
