belongs to one of my best investors! had blueprints rolling but no more time to keep working on it = someone’s $200k – $300k return | BPO = $525k
-5-bedroom demo on >8,000 sq.Ft. double-lot: investors, carpenters, those that have investment or hard-$$ to make back MORE than their total investment .. get after it!
-Put $100k into it get a $300k profit makes this the No-Brainer of 2020. Even if it takes $200k .. you go in for $289k, come out at $525k. So you’ll walk-out clean w/$200k+ in & you have extra lot behind it.
- One-of-a-Kinder per build, view, & location. Big Master Suite, 2 full baths, lots of land & interior space. Good yard with deck/sitting area & 2nd parcel of nearly 6,000 more square feet of private land behind it.
- Needs everything put in, but it’s a fresh slate for ya. Dozens of comps over $400k
New roof 2016. Main floor electric+box was installed & approved by the city in 2020. Clean & fresh mostly to-studs demo with an astonishing view.
Many elite restoration options with this property; plans were even in motion to reframe the windows, extending the master / 3rd-floor window to an extra-wide panoramic view (see photos), as well as removing the pitch & transforming into a Master Suite.
- exposed brick
- covered front porch
- big curb appeal (down the entire street)
- central heat
- tall ceilings
- excellent transit
- elevated basement
- concrete patio in rear previously used as a sunroom; plans were in place to convert to laundry room
- can even walk to Pitt if desired
**3532 Ridgway Street sold for $200k & it’s vacant land.
(**use browser, not app; won’t render properly!)
Polish Hills sales:
Upper Hill sales:
Rental comps (large older homes across the Hills)
*also see comps pic @end of reel
CAP can also reach 13 → 16% if you go that route @ARV .. the neighborhood(s) aren’t going anywhere so might be a good choice to further mature equity 👍
- Taxes: $2,060
- Electric: 1st floor rewired & inspected (*February, 2020)
- Plumbing: Removed
- Kitchen: Needs one
- Bath: Needs two
- Roof: 4 yrs old
- Furnace: 30 yrs old
- Hot Water Tank: Older
- Windows: Should be replaced
- Floors: 2.5
- Parking: On-street; plenty
- Rental Potential: $2,550-$3,075/mo