NORFOLK VA WHOLESALE 1407 Lead St Norfolk DUPLEX $43K OBO

[Lisa Arlt Escoto]

This is wholesale opportunity for an experienced rehabber as it is completely gutted and needs a full renovation.  Profit potential to sell to owner occupant, investor, or keep it yourself and rent out. 

message me with any questions. Include your email address if you'd like me to send you a copy of the CMA (comps)

Asking $43,000 (130K x .7 - $48K rehab)OBO

Expected after repair value $130K

Expected repair $48K

Building plans and Architectural Drawings already approved by the City of Norfolk and Building Permit issued

Demo done, LVL beam in

2 units, 2/1 and 1/1

Expected to rent section 8 for $750 and $650 per month- see http://www.nrha.us/rent/housingreferral

Downstairs unit can easily be turned into a handicapped accessible (wheelchair) unit (for expected higher rent)

Scope of Work and repair estimate - $48K - $53K

Scope of Work:

Frame new 2nd floor addition according to plans

Inspect footings for new addition. Must meet code

Replace siding as necessary

Run All New Plumbing

Run All New Electrical

Install New Drywall

Paint Inside of home

Repair roof

Install baseboard heat or new HVAC system

Install New Windows

Install Insulation

Install Trim and shoe molding

Install all new appliances

Install cabinets and countertop

Frame New deck porch on 2nd floor