Single-family home opportunity at 15th St. and 14th streets — great home with views space and potential for under $1.1 million

You know I’d only post during the day if there was a worthwhile opportunity. And here’s one I URGE you to consider as offers are due FRIDAY – It’s a single-family house on 15th St. at 2412 15th St near where 15th splits off into 14th St. under Roosevelt Street; basically it’s the plateau Where the one-way street turns into a two-way street.

But more importantly it’s about 2000 square-feet single-family house at $1,049,000. It has 3R zoning and has a side driveway leading to a yard an carriage house in the back where you park or create a studio.

The nice thing about this is that there isn’t much interest yet only three disclosure packages are out as the agent said the seller had came on the market rather quickly. Previously tenant-occupied, delivered vacant.

There is a twilight tour on Wednesday evening at 5 o’clock to 6 o’clock.

Foundation work has been done in parts, furnace replaced, finished space downstairs — but almost doesn’t matter as you would have to really redo the house in any case I believe. The value is in the land yes and the location plus the footprint of the house.

But of course we all care about the house. So here are your options: It could be a fixer where you add and renovate kitchens and bathrooms and update some systems, change out floors add fixtures etc. where you end up with a fairly decent house where you would spend 500 or $600 per square foot to acquire the property and another $200-300/ft to renovate or you could do a complete and total gut job when you turn the house into a spectacular high-end dream house Spending four or $500 per square foot above the acquisition cost leading to $1000/square-foot. This may seem pricey of course, but we’re starting to see that more and more in the city. Consider that the a single-family Victorian down the street is asking for $1079/sq ft (2295 15th St).

Let me know what you think and please do consider it as it would be unfortunate if one of you all missed out on this.

Thanks,

Kevin

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2412 15th Street – $1.049M – SFH – offers due 1/15/12 – 3pm

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