La Jolla Rehab Project Available


2nd Story1

This one is freshly under contract and are ready to assign.

*It has foundation issues so probably best for experienced developers/rehabbers.  We have a Geo report.

At this time I do not want to provide the Geo report or the full address.  Once you reply I can share the details.

La Jolla Rehab or Build Up

  • 5 bed 4 bath 3,328 sq ft single story home on ¼ acre lot located near La Jolla Park.
  • Price = $1,760,000, only $528/ft! 
  • Inspection period through 4/6/154/30/15close, $25,000 EMD due
  • Rehab = $200,000-$500,000+ depending on strategy
  • ARV if remodeled with existing Sq Ft and NO addition = $2,500,000-$2,700,000
  • Add a 2ndstory addition to capture ocean views and ARV = $3,000,000 – $3,500,000+

The property is zoned RS-1-5.  It’s located in the Coastal Zone allowing for a maximum building height of 30 feet and a maximum floor area of 5,911 is allowed.  To be eligible for a Coastal Development Permit Categorical Exclusion, it would need to have a maximum height of 27 ft and a maximum floor area of 4,728 allowing for a 1,400 sq ft 2nd story to be built!!  There is no HOA.

Contact for address, Geo report  Access: drive by or schedule a viewing, property is occupied

2nd Story

Contact me direct at Greg@fixandflippers.com | 858-386-0949

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