Here are a couple of Duplexes that are both unique.
One of them just came on the market about a week or so ago. I drove by to view the area and while I was out there taking pictures of the exterior, one of the tenants came out and we had a conversation. She likes the area, but the building has had some issues, notably the roof.
If you look at the pictures of the property, you’d never know. She did say that an inspector did come out there and she was told that the roof would need some major work. The owner has been unable to make the repairs so she’s been putting up with a leaking roof. That’s why she said she was looking for a new place.
The property is located at 7130-7132 Grady Drive, Citrus Heights, Ca 95621. Click here for a “pro-forma” cash flow analysis. Keep in mind that these figues do not include the cost of a new roof, but even if it cost $10,000 to replace it, in my opinion, this would still be a decent deal in today’s market. Click here for a Map Link to show you the major intersection that is nearby. The City of Citrus Heights city hall, police station and lots of shopping are located about a mile away if that.
By the way, I got an email from the agent earlier today telling me that this property has 2 loans on it. She also said she had several offers coming in, so we’ll see how that one goes.
The other one, located at 7542-7544Saint-Philomena Way , is a Bank Owned or REO Duplex that came on the market last October. Since then it’s been in and out of escrow a couple of times and just came back on the market a coule of days ago. I did a profile of it back then including a Palm Video.
Make it a great day…
Ed Favinger, Broker CRS, GRI 916-203-1260 email me at: favinger@rwnetwork.com
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