Sold $735,000 - Duplex
For instance, she doesn’t mention that this property is a 5 minute walk from the Silver Lake dog park, reservoir and all shops and restaurants on Silver Lake Blvd. There is no mention of the fact that both units are owner occupied and thus will be delivered vacant with no relocation fee needed.
Sometimes a great deal evolve out of an agent’s lack of knowledge of the location of a property.And sometimes when that occurs I am able to bring you a great deal. In this case, an agent put a property on the market without “representing” properly and as a consequence, it flies under the radar. In this case, the agent is from 50 miles away (Rancho Cucamonga) and hasn’t a clue what is happening in Silver Lake.
For instance, she doesn’t mention that this property is a 5 minute walk from the Silver Lake dog park, reservoir and all shops and restaurants on Silver Lake Blvd. There is no mention of the fact that both units are owner occupied and thus will be delivered vacant with no relocation fee needed. Nor does it mention the fact that there is a ton of off street parking on the premises for about 7 cars. Nor is the big beautiful entertainment-friendly back yard with lovely views mentioned.
This property works best as an owner user with the owner living in the rear two bedroom unit, which is the one that really has access to the yard. The three bedroom, all fixed up, should have no trouble renting for $3200/mo. With 20 % down payment ($145K) and fixup cost of approx. $100K, one would be out of pocket about $250K, but would then have a wonderful place to live for about $500 including property tax and insurance ! Of course there are other workable ways to set this property up, but this is the one that seems the best to me. If you want help with this or know someone who does, get in touch with me and I will be happy to help you out.
