| AZLBRAX 2007-03-08, 9:25 pm |
| This one is for the serious investor who is willing spend money to make even
more:
2112 sq. ft. "fixer-upper" Duplex in historic "Sailboat Bend" section of
Fort Lauderdale on West Las Olas Blvd., located on 2 wooded "Old Florida"
style lots (approximately 50' x 175' total). 6' wooden fences on 3 sides of
property for increased privacy.
House was built in '53. Solid cinderblock foundation.
Roof totally redone within the last 5 years and still under 20 year
guarantee.
Electric throughout has been upgraded to current code requirements.
Until '06, had a service contract with "Truly Nolen" pest control since
mid-80s and had house tented on a regular basis.
Wall or window-mounted AC units throughout. (Wall unit less than 5 years
old. Needs new compressor.) Ceiling fans in nearly every room.
Wood, tile or stone floors throughout. Some of the wood needs replacing. All
wood floors need refinishing.
Brick patio and huge brick barbeque in back.
"Front" unit: 2 bedroom, 1 bath, kitchen, living room, dining room, hall,
large family room with stone floors, working brick fireplace and high
cathedral ceiling with a "pass-through" from the kitchen, screened "Florida
room" with terrazzo floor. Closets in bedrooms, hall and dining room. Linen
closet across from bathroom. Large storage benches in family room. Large
picture-windows in living and family rooms.
"Rear" unit: 1 large main room, bathroom, kitchen and enclosed "Florida
room" with terrazzo floors and walk-in closet. Walk-in closet in main room.
Linen closet across from bathroom.
Connecting doors between front and rear sections, if you want to use the
house as a single residence.
Additional storage in attics in front and rear sections.
THIS HOUSE NEEDS A LOT OF REPAIR AND WILL COST YOU BETWEEN $40,000 - 60,000
TO DO. Here's an honest list of what needs doing:
Interior and exterior need painting.
Almost all doors and windows need replacing.
Picture-window in front living room cracked: needs replacing.
Plumbing in rear section needs repair.
There are patches of wood on the floors that need replacing. All wood floors
need refinishing.
Electric in front kitchen and part of family room (same circuit) needs
repair: wall-plugs cause shorts and shocks.
Kitchen needs to be totally "nuked": everything from bad wood to counters
and cabinets and electric needs to be redone. Totally unusable "as is".
(Rear kitchen just needs faucet replaced. Otherwise, it is in decent working
order.)
Back of property needs deadfall from last year's hurricanes cleared.
The LAND ALONE was appraised at $241,850 in '06 by Broward County property
appraiser.
Smaller houses with much smaller lots and less trees in "Sailboat Bend" have
recently been selling for $500,000 and up. These properties have had the
houses remodeled.
If you are a "do-it-yourself" person with the money and time to invest, you
could turn a tidy profit if you decide to resell after remodeling. Or you
could use it as a duplex rental property for a guaranteed monthly income.
Or, live in one section and rent the other.
This house is not on the general market yet. I would rather cut the
realtor's fees out and pass the savings on to you. In 2 weeks, I will have
it listed through a realtor, though.
Pix available to email you.
Online asking price: $299,000.00 "as is".
Contact me at:
AZLBRAX@cfl.rr.com
NO AGENTS, PLEASE!!!
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