Tuesday, June 21, 2011

Phoenix foreclosure bargains #1

Metro Phoenix can be a real estate investor’s wonderland, or your worst nightmare. It’s all in whether you choose your residential investment property carefully. Or not.

From time to time, we here at The Phoenix Agents @ Thompson’s Realty like to point out those too-good-to-pass-up houses. Here’s one…it’s a complete fixer-upper but priced about $30,000 below area comparable sold properties!

1737highlandEF

THE SPECS

  • $45,800 -- bank owned

  • 4 beds, 2 baths, 1450 square feet, built 1955

  • 1 car carport -- 7,500 square foot lot

  • Area comps are $75,000-ish and about $950/month as a rental


Near 19th Avenue and Camelback Road in near-West Phoenix, this home is like a time capsule. It literally has not been touched since 1955: you can see the original curtains in the living room and kitchen.

1737highlandKIT

This isn’t a house for the feint of heart or novice investors! It needs significant work – new roof, probably a new HVAC unit, tear down the back porch enclosure, re-tile the master shower, needs all the appliances, remove and replace window coverings, consider replacing the cabinets throughout the house and/or the linoleum floors.


1737highlandPAT

This property needs a lot of TLC, but look at those comps! You can do the basic fundamentals and a few cosmetic remodels and re-sell it (fix and flip) or do the same and turn the home into a cash-flowing rental property.


Use our Foreclosure Search to browse all Phoenix-area foreclosure homes.


If you’re looking for something like this home to invest in, please contact me. I work frequently with novice and experienced investors. In addition to all of Phoenix, I cover territories from Tempe to Surprise, from Glendale to Goodyear. Colleagues in my office cover all of the East and Southeast Valley (Gilbert, Mesa, Chandler, and points east). We’ll all be happy to assist you with your real estate investing goals.


Standard Disclaimer – the property described in this article may not still be available when you read the article. The pricing and value advice offered in this article is meant as a guide only, and does not in any way create a guarantee or a client relationship with the Realtor author. In other words, I am a Realtor but I am not your Realtor… yet, and as such you are responsible for your own due diligence, investigations and negotiations, unless/until you hire me to assist you with same.