This property is in the neighborhood backing up to Cedar Crest Golf Course and offers an excellent investment opportunity near the Bishop Arts District with a gross margin of up to $130,000!! The sellers have been maintaining the major systems overall, but just not done any cosmetic updates since 2016. The ARVs have high potential in this neighborhood, as many of the houses active and sold in the $350k-$425k range are around 1,000 square feet smaller. This would make it a standout option for investors looking for a lucrative flip or long-term rental property with a lot of equity.

Property Overview

• Beds/Baths: 4 Beds, 2.5 Baths
• Year Built: 1953
• Sqft: 2,736 sqft (includes garage conversion)
• Lot Size: 8,250 sqft (0.1894 acres)
• Type: Single Family Residential (SFR)
• Occupancy at Closing: Vacant 

Features and Details

• Heating: Central
• Cooling: Central - does not work currently
• Foundation: Pier & Beam- no issues
• Roof Age: 5 years old- no issues
• Exterior: Brick
• Electrical: no issues
• plumbing: no issues
• HWH: less than 5 years old, no issues

Condition and Rehab

• Condition: Overall the property is outdated, the kitchen, flooring, and bathrooms could all use a refresh. The majors have been maintained overall with the exception of the HVAC. The HVAC will need repairs as it is not currently working. There are also 2 windows that have cracks in the glass, the glass should be replaced. The garage has been converted to a den.

ARV: $375,000 - $400,000

• The current sold, and most active comps justify listing at $400,000 or higher, however given that this area has higher days on market, you might want to list lower to plan on exiting quicker
• Sold Comp: 
  2066 Van Cleave Dr 
  3 bed 2.5 ba 1,898 sq ft 
  $425k ($223 sq ft)
  26 DOM
  NOTE: flipped comp, backs up to golf course