Realtors many times send out Just listed cards when list homes for sale. Then when they sell the house they send out a JUST SOLD card. So I thought What about a JUST Closed Escrow BLOG.
So here it is JUST Closed Escrow!
Additional living space (with its own full bath & kitchenette)
and rent out 2 to 4 of the main houses’ bedrooms to Biola University or Los Angeles College of Chiropractic students to offset the mortgage payment. That’s what the prior owner did. She did a whole house-makeover and then retired to enjoy life. She rented the larger upstairs bedroom and the 2 downstairs extended bedrooms –each with private entrance — to university students. Everyone was searching to rent a room in a private home that has a separate entrance and would pay a premium for their privacy and freedom to come and go for a 1/3 the cost of an apartment.
Back in the 1990′s the former owner rented the bedrooms for as much as $650 each – bringing in $1,900 per month while she enjoyed the upstairs guest house quarters. There was never any shortage of room renters – and this was before Craig’s List. That $22,000+ rental income per year covered the mortgage, taxes, utilities and property maintenance. Just sharing the history of the property. The former owner’s attorney explained that she could rent bedrooms in her home, as do many homeowners surrounding Biola University, as she saw fit.
The Solar Panels (Photovoltaic solar panels) installed above the separate detached 3-car garage makes operating this home and the 2 separate central air conditioning systems very inexpensive! The two separate water heaters are gas and inexpensive to operate. Do the math on the mortgage payment after your down payment and see how this one-of-a-kind investor dream home pencils into your retirement planning.
The deep driveway can be used for RV parking or boat parking and the recreational vehicles will be behind the “front edge” of the house as required by many cities’ municipal codes.
This is a perfect Contractor’s Dream Home if the owner uses the guest house as their expansive and detached business home office. The large 3-car garage could be used to store valuable materials and protected parking plus additional outside parking for 3 full-sized service trucks in the deep driveway out of sight of the street. A savvy business owner could downsize their $2,000/month shop lease and consolidate all business operations in a single affordable 3% residential home mortgage payment. Within minutes of the 5, 605, 57 and 60 freeways in the heart of Southern California. Fenced yard for pets. Family room/den was designed and plumbed with stub-outs, lights and power for a nice wet bar. And dare we say… the house comes with a “bridge” connecting the two stand-alone structures. Find another bridge under $1.5 million!
Freshly painted inside and outside.
15103 Lofthill Drive, La Mirada CA. 90638 $559,000