Great Deal Alert - House
When you hear the two little words “Off Market,” especially today, and especially in Northeast L.A., you should get excited. This means you have the possibility of being spared a bidding war. And make no mistake, there will be a bidding war on this property if it ever makes it onto the MLS. Here is what it is:
This is a 2-bedroom, 1 bath, 900 square foot, 6500 lot size home in Highland Park. It is a fixer but a cosmetic fixer. Most of the systems should be in pretty good shape. I do not see it as a good “flip” opportunity as I do not see enough profit margin. However, I do see it as an excellent opportunity for a new homeowner, or a young couple who is willing to move into a home that needs updating and do the work or get the work done as they go, or get it done before they move in. I reckon there is about $75K worth of work to be done to make it amazing. The location (walking distance to everything on York Blvd., and right in the middle of really cool historic homes) and the yard are both really good. The character of the home is really good. So, after you’ve invested the sweat equity and/or the $75K, you will have a home that is probably worth about $625K. And it will be a great place to live and a great place to raise a new child (or two.)
Let me know if you want help getting it, or if you know someone who might.