23 Decker Way Project
If you’re a big fan of the flip shows on HTGV, you’ll love the local version!
We acquired this property mid-summer 2017. It was a 2bd/1 ba house in East San Jose coming in at slightly less than 1,000 square feet.
Our offer was the top offer out of 42 total offers. Wow! It went from a list price of $400,000 all the way up to our closing price of $502,000. Only in the Bay Area (and maybe NYC) will you see a small house, complete gut job sell for a half a million dollars like this in a working class neighborhood.
But we wanted it and we got it!
Someone call 911!
We don’t believe anyone was hurt, but apparently there was a small electrical fire in the living room. The fire department cut a hole in the roof and one on the side of the house to vent the smoke. The owner started repairing the house then decided to sell. It’s the first fire-damaged property we’ve purchased.
500 SqFt Addition
Many cities around the Bay Area will permit you to add up to 500 square feet of space “over the counter.” This just means it’s a streamlined way of getting plans/permits without jumping through too many hoops or waiting too long. We like to move as fast as possible in these projects.
You might be wondering how we go about adding the square footage and integrating it with the existing floor plan (or maybe you weren’t).
We hired an architect to draw plans, then we submitted those plans to the county (this property is outside of city limits). We added a hallway, moved the bedrooms around, and made sure both bathrooms were spacious. The kitchen and living room did not change at all. The master bedroom, master bath and one other bedroom fill out the new space.
Let’s check and see how the inside is going
And the kitchen…
We often get asked how much something like this costs. In two words: A LOT!
Labor is extremely expensive these days due to the high demand brought on tradesmen. More power to them, but it makes our projects that much more expensive!
All said and done we will spend almost $150,000 to finish this house. Where the value comes in that the selling price/sqft is higher than the cost to build. So, the more square feet we add, the higher the value… to a certain point.