Klevin 532 North Fouplex

Very Large Mt. View Fourplex
$217,000
532 N Klevin St

Corporate Owned!
Sold/closed Jan 2010

For all that this fourplex might not make much of its curb appeal it has the potential for being a money-maker because of its large size. Give tenants more room and they will happily make use of the space, often paying higher rent. These are two-bedroom units; the entire building is measured by the taxing authority at 3536 sq.ft.

At the same time, the property carries a price that reflects a fair level of deferred maintenance. Some updating and remodeling has taken place in some apartments. The listed price can be compared with the tax-assessed valuation of $274,700 for 2009. The property has twice sold to buyers who attempted to get financing but backed out before completing the process. The appraiser obtained by the second buyer's lender is in the package, along with the appraiser's list of what would be required to bring the property from "average-minus" to "average" condition.

The seller, which made a number of repairs required by the above-mentioned lender, will not make any further repairs, or post any kind of repair escrow, at the new, reduced listed price.

The property has an alley behind with lots of tenant parking.

It is still your responsibility as buyer to do your own due diligence on this or any property. An inspection report dated 9/2 was added to the information package September 3.

This is an acquired asset of a lending institution. The property is being marketed in its "as-is" condition. The seller responds promptly, usually on the next business day. There is no property disclosure form being provided, buyer will waive seller's obligation. Please call me concerning their policies and practices, including special forms and procedures to follow. The seller's standard contract forms are available for review in the information package.

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