High End Rehab Opportunity in HOT Seattle Neighborhood!!!

[Tatiana Gershanovich]

We have a rehab opportunity in one of the hottest high end neighborhoods of Seattle, Queen Anne. The prices in the neighborhood way past prices of 2007 and only keep growing. It's located in the middle between Amazon, Facebook, and Google campuses (5-8 min drive to each of them). 

Due to the excellent location, there are 2 exit strategies:

1. Rehab and sell.

2. The use of this house is officially converted into Day Care (approved for 19 occupants). It presents an excellent opportunity for investor for hold and rent to Day Care operation (very easy rent, we will assist if needed) to capitalize even more on the future appreciation and then rehab and sell.

This neighborhood praises itself on preservation of old craftsman style in its houses and interiors made in this style fetch the highest price for the house.

Keeping this in mind, in order to get the highest sale price, the house has to be remodeled in a way that brings a feel of beginning of last century, not the modern style.

We have a great architectural team that came up with all necessary changes in floor plan. The same team can provide the directions for interior design, if needed.

All plans have been submitted for permits and already went through the first round of corrections.

Anticipated rehab cost is $150K-170K.

With the right interior design, the sale price is 1.6M+ 

Here is a good example, 2 blocks away, smaller, but with garage. Link contains before and after pictures: http://www.zillow.com/homes/recently_sold/48690266...

We have another property like this available cross the street for a little bit higher price, but it has a rooftop deck and living space above the daycare for the staff or office use.