Deal Alert! Bank Owned Point Dume House For Sale With Beach Key!
8 March 2013 · by Mike Gardner Malibu Real Estate Agent 310-699-8428

UPDATE! March 11 The bank will be reviewing offers on Tuesday. You have today and tomorrow to call me and figure out if you want to write an offer.310 699 8428.

UPDATE! March 16 Six offers were submitted. Winning bid went over $1.4m

A Point Dume home for sale hit the market yesterday at roughly $1.2m and is listed as bank owned. This one should sell fast so don’t delay in trying to figure out if you should make a run at it. The home has 3 bedrooms and 2.5 baths with roughly  2,373 sq. ft. I’ve been in the home several times and can tell you the good and the bad.

The good thing about this home is the price as its extremely rare to hear of anything under $1.6 on Point Dume. The house comes with beach rights and a beach key. It has good ocean views and has always been easy to rent out. Past rental prices have been between $6k and $7k but likely lower right now…maybe around $4500 in the current condition. The “bones” are good and it would be easy to remodel this in to a modern design.

The bad…The home sits on a flag lot with a shared driveway and has two  more homes below it. The is basically no yard  but does have some deck, hardscape, and small planting areas. The house is dated with an original kitchen and a sunken living room. It will need a remodel if a higher rent price is desired.

From the MLS…. BANK FORECLOSED ! POINT DUME HOME WITH RIVIERA 3 BEACH RIGHTS !STUNNING OCEAN AND CITY LIGHT VIEWS FROM MOST ROOMS ! OPEN FLOOR PLAN WITH HIGH CEILINGS THROUGHOUT. SUNKEN LIVING ROOM WITH WET BAR AND FIREPLACE. LARGE OCEAN VIEW MASTER BEDROOM WITH WALK-IN CLOSET.SPACIOUS KITCHEN WITH CENTER ISLAND EASY TO SHOW WITH LOCK-BOX ON FRONT DOOR – SEE PRIVATE REMARKS FOR LOCK-BOX COMBINATION. FOR SELLER FINANCING INCENTIVES, AGENTS AND THEIR BUYERS ARE REQUESTED TO CONTACT OUR DESIGNATED CHASE LOAN OFFICER.

Call me for a showing at 310 699 8428 .

Point Dume House For Sale

Point Dume House For Sale

Point Dume House For Sale

Point Dume House For Sale

 

Listing courtesy Coldwell Banker.

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