It is crazy how much action the Chelsea property is getting. Each time I run or walk by there are multiple people looking at it….maybe I saw you SDR! If it goes above $800k then I think they will be catching a knife. At $600k I think I would take it.
A well experienced contractor or investor might be able to just work with existing shell, min permits, and put some nice lipstick back on it for under $50k then turn it around and sell for $1M-1.1M. Or put $300k into it and build up and out but not sure if that risk is worth it as you have those condos right behind looking down on you.
Did anyone see the lot on Linda Rosa that had the foundation and some framing? I heard it is under contract for $650k all cash. Has approved plans to build 4bd 3.5ba 2car garage 2100sq ft home. Much better deal as it has great ocean views and a little more private than Chelsea. Downside is no back yard, just room to fence in front.
