Venice 2nd Story Addition Project
This project is 20% completed:
1385 Preston Avenue, Venice, CA Purchase Price = $1.6M Rehab = $362K ARV = $2.5M Architecture and plans completed, in Dropbox (upon request).
. Waiting on final city approvals
Two miles from Venice Beach and three miles from Santa Monica Pier... There are 3 bedrooms and 2 bathrooms. The home was built in 1960 and has 1,537 square feet of original living space. The home is a single story home with a two car garage. The lot is 5,883 square feet. Basically everything is being redone. There's going to be substantial changes to the original floor plan to bring the home to a more open and modern style with an open concept kitchen, dining room and family room. There will be the addition of a 1,100 sqft second story. The second story will consist of a supersized Master bedroom, bathroom and walk in closet. We will also be adding two bedrooms and bathroom on the second story. With the addition of 1,100 sqft to the second story of the house, it will now give the home a total of 2,637 sqft of living space and bring the curb appeal to reflect new construction. Due to location and selling price all finishes including the bathrooms, kitchen, master bedroom and flooring will all reflect upscale finishes. Landscaping will be updated in front of house along with back yard. 
We are have several properties we are looking to liquidate. They were initially joint ventures, 100% Financed. But Our Borrowers could not carry the debt on the 1st and 2nd TD. We took over the properties, Looking to sell them AS-IS... Gain Access to our other Properties... Join our Buyers List:

Property Details

Property Status Expired
Price $1,600,000
Estimated Repairs $362,000
Square Footage 1537
Sq Footage Source null
Estimated ARV $2,500,000
Estimated Equity $538,000
Bedrooms 3
Bathrooms 2
Garage Size 2
Year Built 1960
Sellers Disclosure I am the owner of this property and have authority to sell
Publish Date July 11th, 2017

Seller Information

Mountain View, California
Member since December 2015

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Seller assumes all responsibility for the content of this listing.