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 4/6/15, 4/30/15close, $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
Contact me direct at Greg@fixandflippers.com | 858-386-0949