3265 S Clay Street

Englewood, CO 80110

***CALLING INVESTORS/REDEVOPLERS*** UNIQUE OPPORTUNITY! INVESTOR OPEN HOUSE TODAY, 11-3-2023 FROM 11AM-2PM. COME ON THROUGH WITH YOUR CALCULATORS AND MEASURING TAPES! This one could be really cool deal but it will take some imagination. This home does not fall into the traditional "flip" category for resale, however there are a couple of ways to tackle a meaningful project - it could be a knock down and complete redevelopment/new build OR the house could be cosmetically rehabbed to become a rental as is. Owner was getting $2000/mo for rent 2.5 years ago. Current market rents are $2100-$2300/mo. Seller was able to purchase this home as a primary residence 6 years ago on an FHA loan which is a bit of a mystery ... not sure how it could have passed FHA appraisal requirements at that time and certainly would not now. Major systems are functional as is but home is in typical run-down condition with many deferred maintenance items needed to be completed. PROS: extremely large lot which could easily handle a large structure and still leave lots of outdoor yard space, quite a few newer developed homes on same and surrounding blocks, Loretto Heights redevelopment project in the works bringing entertainment venues and green space to the 72 acre campus https://denverite.com/2023/09/21/loretto-heights-redevelopment-library-theater-southwest-denver/ https://www.denverpost.com/2023/09/06/denver-buys-bonfils-theater-loretto-heights-renovation/ CONS: neighborhood is still in "emerging" status, it's a mixed bag of quality and condition of homes on this and surrounding streets, original structure has been added on to and as such the current house is kind of a Frankenstein with a hodge-podge layout, attached one car attached has a broken door and is unusable as is other than for storage, very large backyard is HUGE is generally a mess and the entire fencing is damaged and trashed - needs to be fully replaced