"* * * STANDARD SALE * * * Great Potential in historic area of Pico-Union! CASH or Conventional ONLY. AS-IS ONLY. * * * WILL NOT BE DELIVERED VACANT * * * PLEASE DO NOT ASK. Roughly 9 separate sets of tenancies.
Looks like a high crime neighborhood. Perfect for a drug dealer who can pay cash and kick out the 9 tenants occupying the dump.
Hey AF, if you can get rid of the tenants with you flamethrower I would be willing to pay $50K cash. We can share the profits after it's sold to a sucker.
It is a high crime area. Still mostly salvadorian immigrants, but slowly changing and 18th at gang is mostly defunct while Mara Salvatrucha(MS-13) no longer holds sway in the area. Koreatiwn has already pushed that Far East along Olympic and Downtown has pushed west.
You have to get rid of the tennants and remodel to a SFR. Property remodeled would sell for $600-700k right now to high income hipster or gay couple. 10 years from now that neighborhood will look very different and you are looking at a $1.5-2million property. But this project needs deep pockets just to get the current tenants to leave. Definitely not for someone looking for a place to park $300k...the repairs and chance of city prosecution for being a slumlord are very real.