Thursday, August 22, 2013
Investors: Waterfront at a Reduced Price!
SPECIAL FOR MY BLOG READERS: Pick up this sweet 1920 4BR/1.5BA beach house on 50' of Puget Sound waterfront on the north end of Vashon Island FOR ONLY $245,000 cash. Must be able to close by September 1; all offers reviewed on Monday, August 26.
This walk-in property is a short five minute walk along a woodland trail to the Vashon ferry terminal. Head five minutes east from the Vashon ferry terminal, then find the trailhead just south of yellow garage; walk through the secluded forest trail down to the water. Your commute from home by King County Water Taxi will have you in downtown Seattle in twenty minutes! Walk to work downtown without a car, go home to your own secluded waterfront, with forever views of the Puget Sound waters, Cascade mountains,Blake Island, ferry boats and abundant wildlife. There are only twenty walk-in properties located on the north end of Vashon, but each is connected to public sewer and water.
This fixer property will need a new roof (18 years on the current one) and treatment for wood-boring beetles in an exposed corner of the basement before it can be conventionally financed. Annual payments of $1781 pay down the remaining balance on the sewer assessment. Plumbing and wiring are all up to date. Seller will pay up to $600 for a home warranty on all appliances, washer, dryer, refrigerator, stove, microwave, hot water heater (1997).
Other desired improvements include:
--Upgrade main kitchen and bath (knock out walls to expand both bath and smallest bedroom)
--Increase energy efficiency with new windows, insulation, heat pump
--Wood decking over current outdoor deck; new railings
--Convert basement to finished studio living space?
Tax-assessed value of $354K, Zillow value of $376K.
Estimated fixed up value of $450K, with a potential profit of more than $60K for a quick flip, depending on improvements. CASH BUYERS only, includes assignment fee.
Visit here for more photos:
Marketing flyer, home inspection report and comparable sales available to interested buyers. Showing with signed PSA only; please do not disturb tenants! Close by September 1, 2013.
Please contact Wendy at HomeLandInvestment@gmail.com or call 888-621-4999 and leave your contact information for more details. Seller is a licensed real estate broker in the state of Washington.