Bank Owned 19th Ave Loft

Looking for a good deal on a Capitol Hill loft? 1802 19th Ave unit #106 just hit the market and its low price of $275k caught my eye. At 1,279 square feet this 19th Ave Loft works out to $215/square foot. Seems to me like a screaming deal! The catch is that it is bank-owned and sold as is.

This home was last sold in 2005 for $474,000 and was last on the market in 2008 for $529,950 but never sold. From poking around the old listing it looks like there is more to it than meets the eye:

Floor to ceiling windows brighten this spacious loft home. Two units combined to offer over 1270 sf of living space. Stained concrete flrs, 12 ft ceilings, 2 patios, electric kit w/ stainless appliances, master suite w/ 5 piece bath, security system, gas frplc, and dual shower heads in custom shower surrounds. Pre-wired for hot tub and A/C. 1 gar space plus storage.

Here’s a photo of the kitchen from that old listing too:

Built in ’04 the kitchen and bathroom finishes look pretty dated but at $275k you should have some money left over for some updated cabinetry.

This home is also a part of Freddie Mac’s First Look Initiative which means you’ve got 15 days before the investors pounce on this great deal and turn it into a rental that will surely cash flow*.

*I have not done the math on this.