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yourdomain > San Gabriel Valley > house/condo > $2,199,999 / 8br - 4656ft2 - amazing opportunity in the one and only LINDA VISTA neighborhood of P (Pasadena)

$2,199,999 / 8br - 4656ft2 - amazing opportunity in the one and only LINDA VISTA neighborhood of P (Pasadena)

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Posted : Sunday, January 21, 2024 11:26 PM

I have an amazing opportunity in the one and only LINDA VISTA neighborhood of PASADENA.
Nearly 5000 sq ft home on HALF ACRE FLAT LOT!!! This is a unique opportunity in the beautiful city of Roses.
This is the neighborhood on the west side of the Rose Bowl and it's widely regarded as one of Pasadena's wealthiest neighborhoods (in a city with a lot of wealthy neighborhoods).
Investor opportunities don't come up very often around here.
This obviously takes someone with an appetite for big projects with big returns.
On tax records it shows 4100 sq ft, MLS says 4600 sq ft but the agent says in reality it is closer to 5000 sq ft and everything is permitted.
Once again one of the biggest selling points: HALF ACRE FLAT LOT! You can create a true dream home with your own private wonderland in the backyard, there is endless potential.
We have been negotiating this one down for a while.
This looked like a great flip opportunity when I started pursuing it.
The nicest homes this size could sell around 4.
5 to 5.
5M.
But the deal just got even better.
A new construction right by us just sold for $7.
2M! Just closed last month.
That lot is closer to 1/3 acre, we have a bigger lot at 1/2 acre.
I think someone could spend around $2M to $2.
5M in construction and have A LOT of profit left over.
When you're dealing with these big homes in a very exclusive neighborhood where homes don't go on the market often, there is limited recent data.
Possible objections: One comp is from April of last year.
Yes we want to show what the top potential is in this neighborhood and there's not a lot of recent data.
I can assure you home values in Linda Vista have not fallen off a cliff.
Another possible objection, the other comp 1460 Linda Ridge shows 2.
3 acre lot.
If you look into this, almost the entire lot is not usable, it's mountainside full of trees; the actual flat area that is usable is perhaps the same or even less than our lot.
The listing agent said there was a celebrity interested in buying this home at one point but he decided he didn't want to do all the work and would rather buy something turnkey.
She didn't disclose yet who it was but she said our investor could probably sell it to them when they're done with the project.
SIP: up to 29 days with $100K hold back.
Sellers are going through divorce, the wife is the one living there and she wants to make sure the deal closes before she takes her stuff.
SIP shouldn't be a big deal, especially if the investor is going the new construction route, they won't be ready to start work that soon.
David 424-256-021SIXXXXXXxx For quick response call or text me.
Or copy and search bellow.
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• Location : Pasadena,CA

• Post ID: 9085993591


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