Opportunity of the Week – April 20, 2016
Another entry in my journal of the “best opportunities of the market”. They are EVERYWHERE around us! I find fixer/flip homes for investors; we set the rehab budget for each property and the resale target price; you hire us to project manage all the improvements, and resell for profit that goes back to you the investor.
401 La Mesa Dr — $1,688,000
Sold for $1805K, COE 5/10/16
This is a screaming opportunity! This is truly a hidden gem. In a neighborhood where comps are selling at $2.3m this year, we have a home with great “bones” that has not been touched since 1953. It needs everything, tear down to the studs of course. But the architectural lines are incredible. In fact, if you look closely you will notice the clerestory windows are trapezoid-shaped, which means this is a butterfly roof design — in 1953! There is a lot to work with here, good size home for the neighborhood, decent pool in shape and location on the lot, and a bigger lot than average. Yeah, it’s at the corner intersection but I think there are much more “pluses” to overcome that “minus”. The rough-cut redwood tongue and groove ceiling with 4×14 cross beams are irreplaceable today! I’m sure the concrete slab would polish up nicely after removing all the flooring (and likely asbestos). Notice the period correct wide-grove siding; I wouldn’t want to think about changing that out. The brickwork of the fireplace and hearth in the living room makes me shake my head and say as always, they just don’t make them like they used to. See the photos I took of the lazy-susan closet where the whole wall pivots in the center! It’s a great layout which takes full advantage of the inner-focused courtyard and pool — I mean seriously, who designs a diner-style eat in breakfast table anymore?! So many elements of this house are just fantastic.
- 1953 Custom Mid-Century Modern home, great post and beam
- Bigger than average lot, nice pool
- Good layout, family room reminds me of the Breezehouse
- See my additional photos, house is completely original, workable
- Priced at $1.7m, a great deal if we can get it for that
My photos (not on MLS):
Listed on 4/16/16 – Lovinda Beal of Coldwell Banker represents the Seller