Updated about 5 years ago on . Most recent reply
1930's Pueblo Home Remodel in Albuquerque, NM
Investment Info:
Single-family residence fix & flip investment in Albuquerque.
Purchase price: $62,500
Cash invested: $42,000
Sale price: $144,000
This remodel was not a cosmetic; it needed everything plus leveling out floors. Sales description: Own a piece of old New Mexico in the heart of the North Valley; a 1930’s Pueblo designed partial adobe casita. Updated kitchen featuring restored antique vigas, new butcher block countertops with a new undermount stainless steel Schon sink, white antiqued cabinets, 1900’s style subway tile backsplash and stainless steel appliances. Classic cafe doors lead into a brick laid pantry room and ample laundry/utility room with new hot water heater. Handcrafted wood accents and details highlighted throughout. Second living space perfect for study or yoga room. Remodeled bathroom showcases premium 3/8 in. thick ANSI certified tempered glass shower entrance, porcelain tile with niches, and mid-century modern inspired shower fixtures. All new paint, fixtures and flooring throughout.
Exterior features include new double coated Solar-Flex White Roof Coating, new upgraded electrical panel, natural and durable surface crusher fine walkways, low maintenance landscape and mature trees, and freshly painted large shed for tools or hobbies. Located on a no thru street close to popular 4th street dinning. This rare find is priced right to sell fast in the North Valley!
What made you interested in investing in this type of deal?
Purchase price was right as was resale value.
How did you find this deal and how did you negotiate it?
MLS with agent
How did you finance this deal?
Conventional loan and HELOC
Lessons learned? Challenges?
Older properties require extensive plumbing work.