San Diego Flip - Del Cerro (Newest 9/12)

[Euan Arcia]

Closed escrow on our latest flip in San Diego, CA (Del Cerro area). Was on the market for 12 days. Took 2.5 months to complete the project.

Specs: 4 bedroom / 2 bath - 2000 sq ft

We had quite a bit of work to do on this one due to the foundation issues. You can see in the pics that the foundation was in really bad shape. We got an engineer to sign off on the foundation after we fixed the issues. We added caissons to prevent it from happening again. Secondly, we opened up the kitchen and the entryway to the family room/kitchen. We also raised the floor in the living room to make it one level. We also widened the hallways leading into the bedrooms. Redid the bathrooms to include 1 piece toilets, quartz counters, LED mirrors, rain shower heads in both bathrooms, body sprayers in the master bath.

Given the area of Del Cerro, we used high end finishes throughout. Calacatta quartz w/ waterfall in the kitchen (2 tone cabinets), GE Cafe appliances, hardwood floors, iPad station to control the new A/C we put in, SkyBell video doorbell. We also redid the cement in the backyard and added walkways, new sod, new water heater, new garage, new windows and doors, LED recessed lighting throughout, new carpet, drywalled the garage and epoxy'd the garage floor, and as an added bonus to the homeowners; purchased a brand new samsung washing machine and dryer.

Purchase price: $510k

Rehab: $115k (Includes labor, finishes, taxes, insurance, utilities, etc...)

Commissions: 2.5% = $18,750

Sold for $750k

Profit: $106,250

BEFORE

AFTER

We added the subway tile after a couple days because they weren't installed yet during the professional pictures.