Off Market Flip - San Carlos, CA - EST 330K+ PROFITS

[Keyur S.]

Here's a great value-add deal for you investors and flippers

San Carlos, the City of Good Living, is extremely desirable and in great demand due to its proximity to employers like Google, Facebook and Oracle. Subject property is a short 5 minute to downtown San Carlos, a big plus...

Looking for a seasoned investor/flipper who can convert the current 1230 sqft into 2600 sqft. Here are some numbers:

• Purchase price: $1.25M
• Estimated Rehab: $375K (1300 sf addition and 1230 sf remodel, plus architect plans and fees) (Tear down is also an option but will obviously take longer and yield higher returns)
• Estimated resale value: $2.15M
• Comps: 2668 Thornhill Dr, SAN CARLOS, CA 94070. Built in 1949 and remodeled with addition in 2010 with a total Sqft of 2553. Sold Feb 2016 for $2.17M. 

Do your research, this is a GREAT deal!.

Additional info (address, pro forma, lien releases, etc) available upon request- proof of funds required

Note:

Property must be sold CASH. Hard money is okay, but might not get title insurance as property is being bought via IRS judicial sale auction. Tax title services will most likely provide the title insurance after closing as needed. Rest assured, title is clear except for a 30K lien that can be paid off at closing or later (Sale price includes lien payoff). Property is subject to no contingencies and is SOLD AS IS. There are no showings for this property and must close by Wednesday, May 18th. Buyer pays all fees and transfer tax. Buyer must be able to close escrow within 10 days. No daisy chains and/or lengthy wholesalers please.