MAPLEWOOD APPROVED PROJECT: A great opportunity to create brand new large spacious 3 bedroom house spread over 2 floors w/ 2.5 baths by adding a level and additional living space within the basement. Plans and permits have been approved reducing the time scale and holding costs. This property has not been built and will be sold as is. We estimate that the renovation costs will be in the region of $150-200K with an after repair value of $680-750K+ depending on your scope of work. Alternatively you can start from scratch and apply for the appropriate compliance documents to build a new construction home. Or a larger development by possibly securing additional land space by approaching the neighbor next door. 4 bedroom single family homes have been sold in the area for $750-900K+ on larger lots. This is definitely an opportunity that should not be missed in a very sought after area. This home will not qualify for a standard FHA loan. Only Cash, Private Funding, Renovation Loan, Hard Money & FHA 203K. Drawings are available once proof of funding has been received and permit information will be supplied once we have accepted an offer and I have attached videos. Pls use all precautions when walking through and around the site as well as being always accompanied by a contractor or a licensed real estate professional. The buyer is responsible for all city inspections, signed buyers hold harmless & release will be required. Seller will only entertain offers from direct end buyers.
Listing courtesy of RE/MAX FIRST REALTY II.
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