Unique Opportunity in Sanford Richmond Ave. Sanford, FL. 32773
This is a very unique off-market opportunity in Sanford. The property consists of a 3/2 single family home and a 2,400 SQFT shed. The total area of the shed is actually 3,600 SQFT but only 2,400 of it is under air. Other features include a swimming pool, a gazebo and everything sits on a large 1.5 acre lot.
This is going to take some work to get it ready to sell. The house is going to need a full rehab. The pool will need resurfacing and some work will need to be done to the deck. There is a good amount of items that will need to be trashed out and i’m sure there is some work that can be done to make the barn area more desirable.
This property is extremely hard to comp. Trying to find similar properties is tough task. There is a property on the same street that is the closest comp and it is listed for $649k. It is a bigger lot that needs to be developed. And when looking on RPR they gave a value of 586k – 637k. There is also lots of new construction in the area which can add to value. We can’t put an exact ARV on this one but it could be major. You cold have a gold mind here you just need the vision to put it together.
**NOTE – The tenants will be there until July 31st. It will need to be purchased with tenants in place. There is a 3k hold back to help insure they move out. Also, this needs to close by next week. So get started on your due diligence now.**