A hidden treasure is not necessarily the lowest price, but the best value based on a number of essential features regarding that particular property. Contrary to what many believe, there are numerous investment opportunities in Davis. When you consider that every surrounding community had a 50% or more drop in property values since the peak and Davis was cushioned from the majority of the doom at approximately 20% depreciation makes Davis a safer option to purchase a home to live in or an investment property. Here are three distinctly different properties that would be excellent long-term investments without leaving the confines of Davis.
It’s not often that an investor has the opportunity to purchase an apartment complex in Davis that will instantly create a huge cash flow. There’s a 13 unit complex at 1805 East 8th Street, walking distance to downtown with 2 bed/1 bath per side. Rents range from $875 to $965 with no vacancies and extended leases through August 2013. With a 30% down payment on the $1,750,000 asking price presents a hidden gem for that shrewd investor.
On a tree-lined quiet cul-de-sac in West Davis, you can find a single story home at 1832 Point Reyes, a 3 bed/ 2 bath detached property that has been updated with fresh paint, new carpet and luscious landscaping. The property was built in 1997 and around the corner from a park, school and greenbelts for walking or biking. One of the many attributes with this subdivision, the builder was wise enough to make it accessible one way in and one way out of the developement. The majority of residents are professionals with a listed price of $455,000 makes this one to consider.
For those buyers that have to be near shopping, downtown and campus there’s a home at 1214 Menlo Drive, a 3 bed/ 2 bath home that’s in the stages of adding new carpet and interior paint. This is a single story in an established Central Davis neighborhood. Ten minute bike ride to UC Davis makes this an excellent owner occupied or investment opportunity for an asking price of $389,000.
These are just three of a number of homes in Davis that would be a bonanza for buyers in this market. With mortgage rates spiking up and home values stabilizing, it’s time for prospects to make a move to homeownership. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling real estate, scan my informative blogs and easy access to view local area homes in Davis, California and the surrounding communities.