For Experienced Investors only - Strong Denver County Fix and Split Deal. Will require cash or hard money as the property doesn't qualify for a bank loan due to the work it needs. This property is for very experienced rehabbers and is no paint, carpet, windows, and appliances type of fix. To be clear, no buyers brokers commissions are being paid on the property. The residents at the property are not to be disturbed under any circumstances. ARV with split and fix is $900K- $1M or $450K -$550K spread. Most recent comp at $505K for one side. Simple to split into separate half-duplexes ( townhomes) with separate legal descriptions. Takes about 8 weeks this time of year. One side is 3 bed/1.5 ba and the other is 3 bed, 1 ba. Interiors measure 980 ft, as additions on the back of each are not in the public records and has lower levels of 200-300 ft each side with different finish levels. Property needs a 12 ft connecting wall between the units - on the back of the building-rebuilt due to poor drainage, and floor leveling in one unit because of it. Have a reasonable quote to do the wall and floor repairs caused by the poor drainage, at $11,200. After that, it is a straight fix. Also needs an old garage removed and front steps re-poured, which are also part of the quote. Ample street parking so no reason to replace the garage but it can be. Many duplex splits in the area and many comps on half-duplexes. Side by side (called paired duplexes) are of the greatest value which these two units are. Up/down duplexes, 4 plex, 5 plex have lessor value per unit. An expensive neighborhood for SF, so half-duplexes are popular way to get in. Sewer tech could not get the scope to the end of the sewer line due to some improper 90 degree elbows. It flows and hasn't had issues, but assume that retail buyers would require at least part of the line be replaced. Rolled roof and performing, but older. (19) different half-duplex or other townhouse style Comps provided - recency and quality of fix have more weight 519 E 4th Ave - Recent 1 Mo old comp, 2/1.5 ba, 1039 ft up, 353 dn unfinished. Good fix, faces gas station, small yard, sides to alley, 8 DOM, $505K 776 Marion St - 14 Mos old, 3/1 ba, 881 ft up, 383 dn unfinished, just OK fix, old counters, 1 Car, 10 DOM, $465K 778 Marion st - 3 Mos old, 3/1ba, 881 ft up, 383 dn unfinished, just OK fix, old counters, I car, 7 DOM, $450K 501 Corona st - 29 Mos old, 3/1.5ba, 1057ft up, 480 ft dn finished with the 3rd, non-conforming bed, Good Fix, 43 DOM, $450K. 534 Marion st, 22 mos old, 2/1ba, 977 ft up, 466 dn unfinished, 1 car, Good fix, 5 DOM, $440K. 788 Marion st, 29 mos old, 3/1ba, 881 ft up, 373 dn unfinished, just OK fix, 1 DOM, $425K 528 Marion st, 28 mos old, 2/1.75ba, 819 ft up, 350 ft dn finished, 1 Car, Good fix, 3 DOM, $423K 323 E 7th Ave, 7 mos old, 2/1.5 ba, 938 up in 2 story floor plan, with 300 ft unfinished basement. In a year 1904 5-plex, with no yard and $175 mo HOA fee. This is not a comp. Off-market sale, no pics,$415K. 417 N Ogden St, 30 mos old, 2/1 ba, 900 up, 540 dn finished, 1 car, Good fix but bad hardwoods, 6 DOM, $411K 717 Logan st, 28 mos old, 2/1 ba, 940 up, 2 story floorplan, 470 dn finished, in a 4-plex, 1 car, not a comp, 4 DOM, 391K. 1018 E 4th Ave, 12 mos old, 2/1 ba, 915 up, 413 dn unfinished, poor fix, sides to alley with large powerlines over unit, 5 DOM, Estate Sale, $390K 440 Downing St, 27 mos old, 2/1 ba, 680 ft up only, fair fix, bad counters, 0 DOM, $387K 438 Downing st, 26 mos old, 2/1 ba, 680 ft up only, fair fix, bad counters 1 DOM, $387K 323 E 7th Ave, 24 mos old, 2/1.5 ba, 938 up, 300 dn unfinished, Two story floorplan, in a year 1904 5-plex, $175 mo HOA fee, no yard, Good fix, not a comp, 4 DOM, $380K. Same property sold 7 mos ago at $415K, see above. Phone is 720-295-428nine. Thank you.
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