Beach house tear down & new construction

[Jacqueline T.D. Huynh]

Investment Info:

Single-family residence other investment in Redondo Beach.

Purchase price: $815,000

Cash invested: $170,000

Sale price: $1,500,000

Purchased a tear down 2 blocks from the beach at $815,000. Took a construction loan out for $1.2 million. Finished in 2008. 3 bedroom, 3 bath with an attached

1 bedroom/1 bath in-law unit with private access.  We lived in the property until we sold it in 2013 when the economy was better.

What made you interested in investing in this type of deal?

Awesome location and potential

How did you find this deal and how did you negotiate it?

On the MLS.

How did you finance this deal?

Conventional loan to purchase and then construction loan to finish the project

How did you add value to the deal?

New construction

What was the outcome?

Great.