I Know This Property – Brought a Buyer to it in 1991.
The folks that bought this property back then did do some interesting things by adding some nice decking in the rear that helps create extensions of the living area.
I have a video that I took about a week or so ago you should take a look at. This property shows just awful from the exterior and needs to have a “make over”. I’m sure the owner knows it, but doesn’t have the resources to really do anything about it. In other words, the lack of “cash flow” made it almost impossible to keep up.
This is a typical situation in this market. I know the current condition of this property is the result of an over heated market, high debt and the fact that it’s hard to make improvements or even maintain, if you don’t have an adequate “Cash Flow“.
Click Here for a Pro-Forma Cash Flow analysis. I am showing a 40% down payment on this one because the rules change for anything over 4 units when it comes to financing.
Take a peek at this video because I do walk the property a bit as much as I could without disturbing the residents there, although a dog did bark at me.
I think you’ll agree with me that the curb appeal is just awful and it doesn’t need to be. It will require an investment in landscaping and I think a big upgrade should be in “covered” parking.
Let me know what you think…?
In the mean time…?
Make it a great day…!
Ed Favinger, Broker, CRS, GRI, SFR firstname.lastname@example.org 916-203-1260
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