Beverly Hills Post Office Flip Deal of the Week.
The best home to flip in Beverly Hills right now!
Just reduced to $799,000 – $419 per sq.ft. This standard sale property will greatly benefit from a remodel. This is a good cosmetic fixer to flip in popular Benedict Canyon. Please contact me for all the details on this excellent flip project.
List of features:
- 3 Bedrooms
- 2.5 Baths
- 1,908 sq.ft.
- 17,163 sq.ft. lot size
- 2-car attached garage
- Built in 1938
- Pool and spa
- California basement
- Two adjoined legal lots
Please contact me for more information, photos, or maps on this flip deal.
Agent notes: REDUCED!! MOVE-IN CONDITION!! TWO ADJOINING LEGAL LOTS: APN 4356-001-005, at 8,320 s.f., has a Trad. 2 Story Home on it which was partially remodeled in the mid 1980′s. The interior s.f. is 1,908. There are 2 BRs plus a large convertible 3rd BR or Fam. Rm, all located upstairs. The Master BdRm has a large walk-in Closet. There is a Bright Sun-Rm that could also be used as an office. There are 2 & ~~ Baths, Air/Cond, a Formal Entry, a Liv. Rm w/ Fireplace, a Formal Dining Rm & a Kitchen w/ Updated Appliances. The 2nd Floor has Carpeted & Hard Wd Flooring. The Laundry Rm is located in the garage. There is also a “California Basement”. Finally, there is a 2 car attached garage. The SECOND LOT, APN 4356-001-006 at 8,843 s.f., is the adjoining lot to the West that constitutes the Back-Yard. POOL & SPA ARE NEWLY PLASTERED with a large Patio Sitting Area, all surrounded in Brick. There is a Hobby Shack at the west end of the back-yd. The TOTAL land sq.ft is 17,163.
When buying and selling a flip on behalf of a client, it is crucial to know the neighborhoods, know the comps, and be conservative in all figures. Beverly Hills Post Office is an affluent community that offers many homes in the foothills of the Santa Monica Mountains with privacy and city and/or canyon views. The neighborhoods can be mixed with estates valued at $3MM-$15MM to smaller homes valued around $700k-$950k.
This home is located in Benedict Canyon in Beverly Hills with relative proximity to Sunset Blvd. There are several homes valued at $2MM to $3MM nearby. I met with Chris Teutsch of Avante Interiors for over an hour at this property. Knowing the market and the neighborhood, we decided that an investor looking to flip this property and to make the most profit needs to do a cosmetic remodel. Some of Chris’ ideas are update the interior of the home, especially the kitchen and baths. Also, converting the California basement into a wine cellar or laundry room will add extra appeal. An investor needs to be careful and not overbuild this property for the market.
Nice, turn-key homes in this neighborhood are selling for $550-$650 per square foot and up. This home will be completely remodeled utilizing its existing traditional style. A conservative estimate on the final retail value of this home is $1,500,000, but the secret is in negotiating the purchase price and construction costs. Chris has estimated his construction rehab to be $200k and to take about 6 months with doing everything he suggests to the property. To keep figures in perspective, if you can purchase this property for $750k and spend $200k on a remodel, then you are into the property for $950k. Selling it on the market for $1.5MM will make an investor a ton of profit in less than one year.
Chris Teutsch of Avante Interiors does exceptional work, and he is my contractor of choice in Los Angeles. Chris has completed several remodeled homes in Beverly Hills in the past few years, and we are currently working on a remodeling project for one of our clients on Summitridge Drive. You can discover more about Chris Teutsch and Avante Interiors on our Affiliate page.
Chris will create a complete detailed estimate for this property. I think you will be amazed at how much profit is available as a flip potential and equally amazed at what a beautiful home this will be for an owner-occupant.
If you are searching for a great flip in Beverly Hills, I will find it. Please contact me today about this home or any of your real estate needs.
That prices of the home office is not that expensive. It has a good interior but the exterior one are not appealing to me.But it has a nice environment. What is good on it you can be remodel this. Is there any available perspective photo of that house? I will look forward on it. Thanks!