Old Carlsbad Original

Written by Jim the Realtor

December 8, 2022

Speaking of entry-level homes, here’s a tour of one that just listed for $1,099,999:

7 Comments

  1. Rob_Dawg

    Jim. Are you familiar with the term “Santa Monica remodel?” Location, lot, existing permitted footprint, paid development fees are combined are worth more than $1.1m.

  2. Jim the Realtor

    I’m not familiar but agree with the value, especially due to the location being a block away from Sunnyhill/Skyline which is the top of the hill in Carlsbad and homes selling for $2,000,000+.

  3. Shadash

    That’s my kind of dump.

    Nice location + everything seems functional so if you want to rent it out for a while the mortgage would probably cover.

  4. Rob_Dawg

    “Santa Monica remodel” dates back to the 80s when Santa Monica had a heavy hand vice home updates. You couldn’t scrape the lot and build right. Instead you could “remodel” by tearing everything down except a wall with a working sink and toilet. Saved tens if not hundreds of thousands in permits and fees.

  5. Rob_Dawg

    Buy for $1.1m. Rip out every bit of drywall. [Do not ask about the popcorn ceiling just rip it out. ] Roll up every bit of carpet. Dumpster. With the walls exposed evaluate whether new windows now or save for later (likely). New drywall, vinyl flooring, paint in and out, $30k to kitchen. $120k tops, Rent for profit easy.

  6. Jim the Realtor

    The floor plan was decent… at least for those of us who grew up in houses built in the 1970s!

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