Sold $449,000 - Duplex
Well, I know you haven’t seen a great deal alert from me in some time. That’s because there hasn’t been much I’ve seen that I was excited about…. until now! Hence, a brand new Great Deal Alert!
Before we go any further I do have to tell you this one needs to be bought either all cash or with a hard money loan, as it is unlikely a conventional lender will loan on it. However, once one fixed it up one could convert it over to a conventional loan right away. That said, there are many things to love about this duplex, especially for an owner/user, but could even be possibly great for a pure investor:
1. One of the best Highland Pk locations, right up against Eagle Rock. On a scale of 1-10 for H’land Pk, this is a ’10!’
2. Secondly, it has a fabulous back yard that is woodsy, and pretty and flat… and big.
3. Third, it has views in several directions.
4. The units are separate.. no common walls.
5. The front unit – the one that prevents if from getting conventional financing – probably only needs about $50-60K worth of work to get it in shape, at least to ‘rental’ standards. The rear unit is in turnkey condition, and is really nice as well as very spacious. It is a one bedroom but could easily be converted into a two bedroom, which title already shows it as! The back would rent for $2200, and the front, fixed up, would rent for $1500.
6. It’s got tons of parking.
7. It currently has no offers. That, and the fact that it needs to be all cash, should give one some very nice negotiation leverage. Could possibly pick this one up for substantially below asking price.
8. Last but not least…. it is being delivered vacant !
If you want help to acquire this or know someone who might, contact me right away!
Meanwhile, have a great Holiday Season!
