This home is Fremont high school/Cupertino schools. The issue is water damaged 2 baths, kitchen…etc almost 100k work involved. This will not qualify mortgages, cash offer only.
I do not have full cash, otherwise would have taken by now. List low to reflect the work. Any takers from this forum?
224 is a bad luck number… you may be able to steal it if the superstitious Chinese balk
My realtor told me these and asked me whether I would like to see the home or not. Since I do not have full cash, left it.
What’s the fair market value after fixing up?
It depends on how do you recover with finish material, esp interior. This is the only condo available in 94086 and all other condos sold in past 6 months are here. However, other condo are built after year 2000 and this condo is very old. Current market is crazy, anything looks flashy will sell like hotcake.
I agree with @Jil. Depends what finishing material you use, but let’s just say you fix it up with basics, I’m guessing this FMV is around 900-950k. I feel if it’s really 100k worth of work, this isn’t like a screaming deal at 699k. This is an older complex with some weird floor plans surrounded by nicer newer townhouses that are going 1.1-1.3 range. This is also not in the desirable school district part of 94086.
Here’s two recent smaller comps in the same complex, so who knows.
https://www.redfin.com/CA/Sunnyvale/205-Red-Oak-Dr-W-94086/unit-H/home/1092972
https://www.redfin.com/CA/Sunnyvale/209-Red-Oak-Dr-94086/unit-Q/home/113801270
Yes, this is not a great deal for investors, but a great deal for primary owners with Children, going to Cupertino schools.
The new buyers won’t even touch this home as they may not have full cash.
On any case, with current market condition, some investor buys it and flips it.
I am also open for it 1/3rd or 1/4th, easy for me now.
I’ll start a new private thread. Maybe not this particular project but some in the future if we all keep our eyes peeled.
Yes, PM all interested parties.
this home doesn’t come under cupertino schools… it goes to ellis elementary which is sunnyvale school district
Yea, that’s what I said earlier. It’s the less desirable schools. Fremont HS which is the worst in Sunnyvale. You want at least Homestead.
What about “Fremont High School”, it is Cupertino Union School District, right.
Fremont high is fine as the location is Sunnyvale hub. If this home would have come out by next month, I would have taken it individually as I doing a cash out from my fully paid home now.
How many buyers of a 2/1 condo are goimg to have school age kids? I’d be more worried about only 1 bathroom limiting rental income for roommates sharing it.
Well this one is a 3/2 though, the comps I showed was just the same complex. No 3/2 comps in the past 6 months.
I saw condos here for approx 300k in 2011 and passed. That area near Evelyn has become way more dense now - lots more new condo and townhome developments. All schools are bad. Not trying to rain on your decision - so if you had the money you would buy this for 800k cash and then spend 50k or 100k to fix the water damage?
Why don’t you buy something like this in 95128? Schools may not be good but you will get a full SFH near to freeways and work for tenants.
I pass by that house often and can see work happening to redo the outside, roof ,etc.
