Premium lot. Appears to be a former longtime rental. Don’t know what the current comps are there but $575K (flipped) seems reasonable to me, given its premium canyon lot. The flippers seemed to have done all the right stuff to successfully market it for a quick sale, so yes, they DID add value!
The only question I have here is, “Was $140K `profit’ enough to cover all the materials, (very fast and efficient) labor, DIY labor (if any) and closing costs on both transactions?” I haven’t looked up “Fit Properties” on the DRE website but would surmise that the principal or one of the principals (or their relative) in this flip is the broker for “Fit Properties.” Otherwise, the selling commission would have been too high for them to make this flip pencil out (as opposed to paying only a co-broke fee).
Very nice “transformation.” Thanks for sharing, UCGal!
