Description

Estimated Rehab Cost: $70,000 – $80,000

Projected ARV: $1,375,000

Deposit: $40,000

COE: 2/27/2023

Bonus Facts: Finished attic, RV parking, new copper plumbing, recently enforced foundation.  Zoned PSR3

The City of Roses is blooming and ready for you to come join in on the fun. Welcome to your nexthot flip with a PSR3 zoning in the City of Pasadena.  This gorgeous Tudor home is waiting for you to come and bring it back to life! Located in the highlysought-after city of Pasadena, this beauty sits on an almost 7,000 square-foot lot with nearly 1,5oosquare feet of living space! Inside, you have 3 bedrooms and 1 bathroom, and outside a detachedtwo-car garage with a long driveway enough for cars and even RV parking. This home also features a finished attic with easy access through a staircase located in the home. This bonus living space isnot included in the square footage and can be used as a home office, craft room, or anythingyour creativity desires! If that wasn’t enough, this house is also Zoned PSR3, which only adds to thepossibilities that this house has. This DESIRABLE HOME is going to take a little elbow grease butwith the right vision, this charmer could be the STAR of the neighborhood. We are eager to presentthis fixer which also happens to be the Lowest Priced SFR currently available within a mile radius. Ifyou take a look at the comparable sales link below you will see an average of 25 days on themarket and an average of almost $50,000 over asking price. All the proof you need is in thecomparable link we have provided. Schedule your appointment to see this RARE opportunity in thecity of Pasadena.

COMP #1

320 E Glenarm St

– Here is your

NEXT DOOR

NEIGHBOR

comparable. Not only is this comp rightnext door, but it’s also a

FIXER

and it still sold for

$1,250,000

at the end of September, talk about aTWIN comparable! The home is almost the exact same size in living square footage and similar lot sizes too. The biggest difference between our subject property and this comp is that this one is rightnext to a commercial building, while we’re nestled in between houses. With this as a comparablesale, you should easily see how this is definitely a great opportunity.

COMP #2

1025 S Los Robles Ave

– Here is your

PRIZE WINNER

comparable. The perfect example of what abeautiful home is going for in this neighborhood. This beauty closed in just

18

daysfor

$1,430,000

which was

$35,000 OVER

list price. This house has a lot of charm and character butit still isn’t considered a Flip, some areas of this house are still very dated. Imagine what a completeflip with modern touches will go for. With this comparable in your pocket, the projected ARV shouldseem like a walk in the park.

COMP #3

300 Filmore St

– Here is your

Corner Lot

comparable. This house just closed in Novemberfor

$1,330,500

. With a similar size of living spaces, this house is still coming in short in LOT size by over 2,100 sq ft. Although the listing calls it a Spanish Revival, we don’t see anything Revival about this, more like Spanish Unrival. Compared to our Tudor subject property, this house lacks the characteristics that the buyer look for in this neighborhood. Taking that all into account, it’s easy to see that our ARV is not only attainable, it’s quite conservative.

LOCATION INFORMATION

CHARACTERISTICS