$1,149,000
**BACK ON MARKET** Investor's Special! The Lowest Priced Home in Palms! This single family home with a detached garage is located in the Super Hot Palms California Market located just two blocks from Sony Pictures, and a 15 minute bike ride to Venice Beach Boardwalk. This is a 3 bedroom 2 bath Home just shy of 1300 square feet. It also includes a closed off patio/den with laundry access. The Sellers have made improvements to almost all of the major systems of this home. This year alone a New Roof was and exterior trim work. The Electrical Panel is new, along with added recessed lighting to the living room. The windows have been upgraded to Double Pane all around. New LVP Flooring was added at the beginning of the year. The Homes requires some love and a vision on the inside with your own personal touch as an experienced flipper, or even a first time home buyer. As you can see the interior is dated, but the completion of a rehab on this home will provide some massive Forced Equity! Four Fixers in this neighborhood have recently sold, but were nowhere near this good condition at this price! The neighborhood is Booming and House prices are still trending up in this pocket, as the Home is located in a Very Safe Neighborhood with Strong School Ratings and is Highly Walkable. Neighborhood activity is high with lots of Families and Dog walkers around. New and trendy local Restaurants keep opening up by the day. Even Apple, Google and Max have brought three major "campuses" to the neighborhood with plenty more tech companies desire to move here. Investors, there is Multiple Exit Strategies for this Home, the quickest being a cosmetic Fix and Flip with a huge spread and little headache. You will not see recent comps in six months in this neighborhood because there is no supply! The demand is so high for rehabbed Single Family Homes when they do pop up. The problem is, there are only a handful that show up in this pocket in Years! High end remodels have sold above $1,850,000 multiple times with Bidding Wars and low Days on Market. Our Listing Agent was involved in multiple of those transactions as proof. This home has an excellent entry price, with a lower than usual rehab scope, and a conservative exit of $1,600,000 All of which at a Price Point to alleviates a lot of risk. The detached garage can also make an excellent ADU play to reach above a $1,900,000 ARV. Rents are historically strong in this neighborhood given its access to the rest of Los Angeles and desirability making a great buy and hold play. Feel free to run your numbers and you can confirm this is a great deal for the next home owner. A sample ADU can be seen right next door for the ADU play. Investors, and Home Buyers - There will be limited showings of this home, and offers will be due July 27th. To schedule your Private Showing please contact the listing agent. Property will be sold As-Is. Seller is still moving things out. Will be delivered vacant. Prefer longer escrow period of 30 days. Appliances do not convey. Trust Sale - verified documents and information to facilitate easy transaction. Creative Financing, Hard Money and Private, Conventional loans are all okay. We will look at all deal structures, but go with the strongest offers.
3
Beds
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2
Baths
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ACTIVE
Status
10741 Charnock Rd, Los Angeles
Courtesy of Choice Realty, Abdul Sheikh - CA DRE#00989168
