Lovely 1996 sq ft three bedroom, two bathroom home with great living space and OK house-flipper updates. http://www.redfin.com/CA/Oakland/3874-Greenwood-Ave-94602/home/1957126
Good things:
Great views from the second floor bedrooms across the valley and Crocker Highlands, nice neighbors, family neighborhood. Good light. Elevated aspect. Still in Glenview and within walking distance of the village shops and restaurants. Flippers installed a new water closet / half bathroom downstairs making entertaining much easier. They also replaced the falling-down car space retaining walls at the property frontage.
Things to know:
The sellers are house flippers (from Arizona this time), and they have allowed multiple tax and mechanics liens to build on the property. The foundation needs to be replaced, and quotes are both $54,000. The floor mounted gravity heaters are overdue for replacement as is the water heater. The tar/gravel roof needs to be replaced and is a no quote (guessing $15,000 to $20,000). There is no garage, but there is storage space in the basement equivalent to 1-car garage. Glenview School is to be rebuilt in a couple of years, so children will be either located in a temporary school or dispersed to nearby Crocker and Cleveland. Sale will likely take months as no releases on any of the liens have been delivered by the sellers. There are multiple investors in the house flipping group.
Asking: $779,000
Additional: Foundation $54,000, roof $20,000, liens $20,000+, appliances needed include refrigerator, washer, dryer ($2,000?).
Total: $875,000+ for 1996 sq. ft. house flip that may take months.
Answer: No.