Seattle Investors Club Investment Deal
Factoria Area (Bellevue) – 1 story / rambler – Full Rehab OR Clean Up & Relist!
IMPORTANT NOTE: HOME IS OCCUPIED – DO NOT DISTURB – DO NOT WALK ON PROPERTY PLEASE
Bellevue Rehab Details:
4235 122nd Ave SE
Bellevue, WA 98006
Year Built: 1956
Sq/Ft: 1,350 (ON SEPTIC)
Price: $385,000 including assignment fee
PLAN A: FULL REHAB
Estimated Rehab Cost: $75,000
Estimated After Rehab Value: $559,950
PLAN B: CLEAN UP & RELIST
Estimated Clean Up & Fix: $20,000
Estimated ARV / Exit Value: $475,000 ++
Details: 1,350 SF rambler in Mockingbird Hill, majorly sought after Newport High School area. Currently 3 x 1.5, on septic. Septic needs a repair. Seller has $6,700 bid/estimate, included in estimated rehab costs above. GREAT lot with huge back yard and nice front yard as well. Fully fenced! 2 car garage!
Deal Summary – Plan A – Full Remodel
Needs full remodel, including windows. Buyer to determine if roof is needed, but it is budgeted in estimated rehab numbers. Septic repair budgeted at $6,700 per bid Seller has received. Has hardwoods in living, dining & bedrooms. Tile in kitchen & family room. Popcorn ceilings. Should be able to create open concept kitchen by removing a wall.
Deal Summary: Plan B – Clean up, Fix & Relist
Repair the septic, trash out the place, do full interior paint & make it SPOTLESS. Then relist.
– Earnest Money is $5,000 payable to Escrow Services of Washington upon assignment
– Closing Date on or before 11/18/15
For Showings Contact you MUST call or text:
DISCLAIMER: Buyers may not rely on this information and must do their own review of all the numbers and information in regards to this property.