Thursday, May 25, 2006

Builder option in CC with 3 lots for just under 15000sqft

3 lots side by side - Developer/Developer opportunity in Culver City

THREE DUPLEXES IN A ROW. NO RENT CONTROL! SOME UNITS HAVE BEEN TOTALLY REMODELED. EACH UNIT HAS PRIVATE YARD AND PRIVATE GARAGE. ALLEY ACCESS. CAN BE SOLD ALONG WITH 10815 & 10819 JEFFERSON BLVD. OR CAN BE SOLD INDIVIDUALLY. TOTAL LOT SIZE IS APPROX. 15,000 SQ. FT. CAN BUILD TEN 1800-2000 SQ FT. CONDOS (PER OWNER).

Land Bank for Builder!

So you do not want to build right away... No problem. Sit on these for a little while and land bank them. The revenues from the duplex rentals make it very pain free as you take your time to see what you can get approved with the city. Be patient while you see if the market will be strong after the current correction or market shift.

Investors

This Culver City area is a good investor option. Owner will sell them separately if you want to buy one or two of the three. Review with Keith the benefits that you receive as the owner of a clean rental property where the long term benefits are strong.

Will require a strong down payment on listing price of $ 839,000 each.

This is one of three good featured listings for investors added to the REList.net web site today.

Wednesday, May 17, 2006

Big Development opportunities

There are three duplexes side by side that could be a good option for future development. What a chance to build a nice Condo or Apartment complex.

If the three lots are broken up then the opportunity is lost.

Side by side these three lots make up just shy of 15,ooo sq feet of lot.

Call or email me soon if you know a builder or developer who would like the details.

Keith @ relist.net or 310-758-8116

Tuesday, May 16, 2006

More options and one back to market

Ashwood is back. The top offer of a couple of weeks ago fell out! Buildable into new SFR !


I will track this one on this blog even if one of my clients do not get it. It is in Mar Vista area just east of Walgrove Ave and West of Beethovan. The best lot deal in the area. It is back on the Marketat new price of $679,000. They raised the price by 20k after it fell out. Last time there were a bunch of offers. They took the “all cash” offer and did not counter the other offers. Will all those suitors come back?

Today I showed it to a friend that had expressed interest in a site he could improve. He was properly impressed and will likely be working on his numbers while I am typing this tonight.

Another quick fix and flip is also in the area. Bigger lot. Newer house. Just need to peal away the old stuff and freshen it up. Any one out there want to make a short play on a $850,000 house that may be able to go for more once improved? Got to take down a lot of country stuff.

Give it a bit of sprucing up. Revamp the Landscape and polish the hardwood. Update the kitchen. It does not have the view that drove a lot recently over 1 million. But it has the bones of a fairly decent house. Can you make friends with the floor plan and make it speak to the heart of a new buyer? Possibly profitable for you if you can!

Thursday, May 11, 2006

This weeks hot items. Builders for Large items needed.

Several lots for a total of 15,000 sq ft near Culver City

or

3 lots of the sand in Venice Beach for $6.9 million
used for parking now but what would you build ?


OK Post your comment... What would you like to build?

Tuesday, May 09, 2006

Builder and Development deals available today.

Recently a home on Dewey ( just south of Santa Monica Airport ) was listed by a notorious local agent at a low price. Of course the ensuing overbidding had some serious developer/speck bidder action. It sold for $1.1 mil. And now this view lot will get a new home on it. Will they tear down 100% and rebuild. Some think so. The selling price on those homes in the region with “Year Built” that says 2003 or newer can command prices like $1,895,000 with views and just $1,565,000 with no views.

Another Hot one just hit the market place and has all the builders scrambling to grab their calculator. On Inglewood at the top of the Mar Vista Hill. Think of and Mountain View locations and top prices. It was listed at a sobering price of ONLY 839k and the bidding war will likely push this up to the 1 million dollar range.


Also is there any of you dear readers thawoulddl combine three lots and build a nice Condo development on a total of 15,000 sq feet of land?!?! New. Not on the MLS.

Bigger. Better. An opportunity for construction of profitablele project.

Thursday, May 04, 2006

REO for 11 x gross

Came across an interesting Residential Income property that was only 11 x Gross.

It had been sold but fell out of escrow and is now reduced by an additional $100k. So what went wrong with it? Likely the units that were bootlegged into the building. It happens from time to time that a unit is broken up into two units. It raises the bottom line for the buildings monthly income.

Is the City Building and safety onto the owner? Is the owner trying to sell before the city forces the corrections?

I have found that smaller units make good revenues.

IMHO. Keith