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Updated about 8 years ago on . Most recent reply

User Stats

75
Posts
31
Votes
Greg C.
  • Real Estate Investor
  • Lake Balboa, CA
31
Votes |
75
Posts

Abandoned Property - What would you do next if anything

Greg C.
  • Real Estate Investor
  • Lake Balboa, CA
Posted

Not that I'm specifically looking to do flips but sometimes thing just pop out as a possibility.

Being in So Cal I've been more actively exploring Out of State Turnkey or Syndication type strategies but I noticed a fence went up around a home on my block and started to do some digging mostly for practice or the what if possibilities.

Home - 2/1 on 7000 sf lot built 1950 renovated 1975.

My first thought I could total Value Add this. Current values for a 2/1 in the area are around $450,000 3/2's are going for $650,00.

Last sale on record was 1975 for $36,000 But I can't seem to track down the Owners Name.

Tax payments are current but approaching a deadline shortly on 12/12. LA Assessor does not list Owner.

No know forclosures I could find doing basic research.

City has given 2 citations

1) Early 2016 for unkept landscaping

2)  7/3/16 - Abate Order "abandoned or vacant building left open to the public"

There is a permit I found  but the dates are wonky.

20' X 46'-1" ADDITION TO REAR OF (E) DWELLING TO CREATE 2 BEDROOMS, 2 BATHROOMS, EXPAND LIVING RM, AND ADD PATIO COVER. REMOVE WALL AND ADD BEAM AT KITCHEN. ALL WORK PER ENGINEEIRNG. "COMPLY WITH DEPARTMENT ORDER effective date 06/23/2016. PERMIT WILL EXPIRE 30 DAYS FROM ISSUANCE DATE

Note the 6/23/2016 date which is prior to the actual abate order.  But the permit issue date is noted as 12/1/2016

So I'm going to assume someone is into that property Complying to the Abatement Order from 7/3/16.

Worth Looking deeper into this?

What's the next step?  Title search for Property Owner?

Sit and wait to see if someone makes the 12/12 tax payment or starts working on the property?

Thanks all.

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