🏡 Investor-Friendly Gem – Your Next Profitable Venture Awaits!

Description

Purchase Price: $338,888

After Repair Value (ARV): $430,000

Property Details:

Address: 7237 W Montebello Ave

Currently occupied (Tenants, do not disturb)

4 bedrooms

3 bathrooms

2052 sqft

Corner lot, 7070 sq ft

Pool (Needs cleaning, but pump works)

Garage converted to 4th bedroom with full bath (with permits)

Potential for co-living or group home setup

Potential for conversion to duplex

Needs updating

AC needs replacement

Roof is in good shape

COE: 3.21.24

30 Day Post Possession $7500 Hold Back
Earnest Money Required: $5,000

Property Type: Single Family Residence (SFR)

HOA: None

Analysis:

Positive Aspects:

Great layout and potential for renovation.

Conversion potential for co-living or duplex can increase rental income.

Good neighborhood with potential for property value appreciation.

Corner lot and pool can be attractive features for buyers or renters.

Considerations:

Requires updates and renovation, which can be a significant cost.

AC replacement and pool cleaning are additional expenses.

Currently occupied, which might pose challenges for inspection and renovation planning.

Flexibility needed for close date due to tenant occupancy.

Market Outlook:

Glendale properties are expected to appreciate, with various ongoing projects indicating growth potential.

Nearby high-end resorts like the Vaire Resort can attract affluent buyers or renters, potentially benefiting property values in the area.