The home was acquired in 2005 at a premium to the market, then the previous period 's high yielding real estate assets . The property was acquired as a distressed investment because there is a court proceeding where parties are literally walking into a room, rolling up their sleeves, and fighting for assets in a recovery strategy. As such, a first perfected lien on the house was secured, however that lien has been secured since 2005, upon being awarded the lien concurrently with the sale. The property, it is important to note, was developed and completed in 1992, which is approx. 3 years away from being fully depreciated where the home, after satisfying and completing its mortgage obligation, will realize approximately the end in its depreciation schedule, ultimately seeing the property reach zero salvage value with buildings and homes reaching a fully depreciated schedule. As a result we anticipate no or very little new construction, purely from an economic analysis suggesting at that time it will be prohibitively too expensive to demolish the home in order to build new over the initial foundation and structure, since the current foundation may need a customized solution. Therefore, in the interest of full and fair disclosure acquiring this asset, from both a rental income asset, or it being an outright purchase option...
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
