7 Comments

1. 

   Rob_Dawg on December 8, 2022 at 11:13 am

   Jim. Are you familiar with the term “Santa Monica remodel?” Location, lot, existing permitted footprint, paid development fees are combined are worth more than $1.1m.

2. 

   Jim the Realtor on December 8, 2022 at 11:26 am

   I’m not familiar but agree with the value, especially due to the location being a block away from Sunnyhill/Skyline which is the top of the hill in Carlsbad and homes selling for $2,000,000+.

3. 

   Shadash on December 8, 2022 at 12:12 pm

   That’s my kind of dump.

   Nice location + everything seems functional so if you want to rent it out for a while the mortgage would probably cover.

4. 

   Rob_Dawg on December 8, 2022 at 7:06 pm

   “Santa Monica remodel” dates back to the 80s when Santa Monica had a heavy hand vice home updates. You couldn’t scrape the lot and build right. Instead you could “remodel” by tearing everything down except a wall with a working sink and toilet. Saved tens if not hundreds of thousands in permits and fees.

5. 

   Rob_Dawg on December 9, 2022 at 12:34 pm

   Buy for $1.1m. Rip out every bit of drywall. [Do not ask about the popcorn ceiling just rip it out. ] Roll up every bit of carpet. Dumpster. With the walls exposed evaluate whether new windows now or save for later (likely). New drywall, vinyl flooring, paint in and out, $30k to kitchen. $120k tops, Rent for profit easy.

6. 

   Jim the Realtor on December 9, 2022 at 7:07 pm

   The floor plan was decent… at least for those of us who grew up in houses built in the 1970s!

7. 

   Jim the Realtor on December 9, 2022 at 7:19 pm

   It just looks bad though.