I Think The Owner Missed an Opportunity
Here’s a picture I took of a duplex located at 9664 Lake Natoma Drive, Orangevale, Ca. They are asking $299,900 with rents at $950 & $1025.
Each unit is a 2 bedroom 1 bath with single car garages.
Since I own a property across and down the street a bit when it came on the market I thought I’d swing by and see what it looked like.
My original thought about this blog post would be to point out the poor curb appeal and how it might affect the sale of this property and therefore the rest of the immediate area of Duplexes.
The listing agent was marketing as a property needing a little “TLC”…
My initial reaction was that this property was over priced based upon my visual from the street and from some of the interior pictures. However this duplex is in a great area. If you look at the aerial by clicking here you’ll see how close it is to the City of Folsom, Lake Natoma recreation area and the trail system, lots of open space, nearby restaurants & local shopping along with easy access to the Highway 50 corridor.
With all that I felt was negative about this property, yesterday it was reported on the MLS as a Pending Sale after only 15 days on the market. The Seller’s agent would not disclose the contract price to me or even if it was close to the list price or at a discount. He says “we’ll have to wait” until it closes.
The point of this article…? Click Here for the street view taken of this property back in 2012. Don’t you think like me, that in the 3 years since that “street view” picture was taken, the Seller could have at least planted a couple of trees and kept vehicles out of the landscape strip to the left of the driveway.
Yes parking is a problem in our area, but as an investor, why not help improve the property & the neighborhood. The owner could have added another few feet of driveway with still an area for a planter along that strip.
With some “minimal planning & little more investment”, you could easily make this a much more attractive place to live, get higher rents and thereby helping to keep the values up in what could be a nice area.
Click here for a slide show of what a duplex could look like front and back.
I’d like your feedback. Let me know what you think.
In the Mean Time…?
Make it a Great Day…!
Ed Favinger, Broker, CRS, GRI, SFR, CDPE 916-203-1260 favinger@rwnetwork.com
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