Amazing Deal in Alexandria, VA (Asking Price: $590,000 / ARV: $1.5 Million). Buy Before It's gone
My partner and I have have put under contract an amazing real estate deal in Alexandria, VA. Here are some details:
Size: 1,200 sqft (under construction to expand to 5,265 sqft.)
House Type: Single Family Home
Price: $590,000
Rehab/Expansion Costs: $350,000
ARV: $ 1.2-1.5 Million (Expansion costs and ARV based on comps from three different appraisers)
This property is currently 1,200 sqft, but a foundation was laid to expand it to 5,265 sqft. The builder who was previously working on the project depleted his money during the process and now needs to sell fast to liquidate his assets. All permits and blueprints for the expansion have been approved and the property is ready for sale and further development. The buyer will find his/herself with HUGE amounts of equity with this deal. That's around $560,000 of equity! All that needs to be completed is the expansion. If you are interested, please contact me as soon as possible to get more details.
A deal like this will not remain available for very long. We would prefer cash buyers or utilizers of lender funds (though any type of buyer is welcome to purchase), as we would like to have the property closed in 7-14 days. Also, we need to have an investor start the closing process by Tuesday November 12. Thank you.
Amir