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Coral Gables Opportunity – 450 Camilo Avenue

February 23rd, 2012 Written By Carol Pawley

Fresh on the market is an REO opportunity in Coral Gables at 450 Camilo Avenue. A complete redo, this house is spacious with 1,859 sq. ft. of living space on a 7,700 sq. ft. lot. Perfectly situation between Coconut Grove and Coral Gables, it’s located behind the Coral Gables public library, near schools and main roads ways, Le Jeune and Bird Road. Abandoned for years, this property was subjected to water damage from a leaky roof and rot. The bank has put in a new roof and replaced much of the drywall. Even so, there are at least $70,000 worth of renovations needed, including new electrical, AC, flooring and kitchen with appliances. Only on the market for two days, there have already been more than 30 showings and, as of yesterday, one offer submitted. The bank is reviewing all offers this Friday and will begin making counters sometime next week.  I was just at the property yesterday and can say that the house has a great floor plan with plenty of living space, larger bedrooms and a spacious eat-in kitchen in addition to a formal dining room. Also great for entertaining is an elevated deck/patio connected to the house through a wall of sliding glass doors. Though only inspection will reveal how much work the property needs, there isn’t any structural damage visible from the outside. I feel like this is a great opportunity for anyone willing to put in sweat equity for a return on investment or as a fixer-upper.

 

If you would like more information on available homes or to schedule a showing, please contact me at (305) 992 6188 or email me at carolapawley@gmail.com

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