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Updated about 8 years ago,
Abandoned Property - What would you do next if anything
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.