Homes in Riverside/Avondale

[ben says]

Does anyone have, or know anybody, selling homes in Avondale, Riverside, Stockton area, Roselle/King/Brewery district? Looking for potential rehabs, short sales, etc.

[ben says]

Looking, specifically, at Oak, Herschel, and north of Park Street. Also, does anyone know who owns (and what the status is) of the old laundry place on Oak? And, anyone know what's up with Fuel Coffeeshop? No signs on either, but randomly hear, quite often, they are being sold.

[bill]

Looking, specifically, at Oak, Herschel, and north of Park Street. Also, does anyone know who owns (and what the status is) of the old laundry place on Oak? And, anyone know what's up with Fuel Coffeeshop? No signs on either, but randomly hear, quite often, they are being sold.

The laundry is contaminated so the owner would consider leasing it. Can get you in touch.

[ben says]

Looking, specifically, at Oak, Herschel, and north of Park Street. Also, does anyone know who owns (and what the status is) of the old laundry place on Oak? And, anyone know what's up with Fuel Coffeeshop? No signs on either, but randomly hear, quite often, they are being sold.

The laundry is contaminated so the owner would consider leasing it. Can get you in touch.

Any chance he'll sell? Not looking to lease. Thanks for the info!

[The Compound]

Your best bet is to get a good realtor, they know of everything first. I recommend TraditionsJax.com.
Everyone there knows the area very well.

[floridaforester]

Looking, specifically, at Oak, Herschel, and north of Park Street. Also, does anyone know who owns (and what the status is) of the old laundry place on Oak? And, anyone know what's up with Fuel Coffeeshop? No signs on either, but randomly hear, quite often, they are being sold.

I'm a Realtor and live on Herschel and my office is in Avondale.  Obviously I specialize in the Riverside Avondale area and can help you if you're interested in buying in the neighborhood.  There is a building in 5 Pts for sale and I've tried contacting the owners of the old Fuel space.  I look forward to hearing from you.

[deathstar]

I hope something comes of the old 5 & Dime / Fuel space, it's a shame to see it just waste away considering the history of it.

[mtraininjax]

Often times, the best buildings for sale are the ones who look like they are ready to foreclosed on, weeds high in the yard, paint peeling, general lack of repair. With the great recession, there are a boatload of these out there in Riverside/Avondale. The problem for investors is that you don't know the real value, just looking at the City website on their assessed value. I have rental properties in Murray Hill that have assessments of $80,000 when a home a few feet away sells for $6,000. The city must believe I have gold plated water lines.

Craigslist is a good place to look at what might be reselling. There are a number of people who are investors who buy and then flip, one is John Germaine, you can send me an email offline and I can send you his info. I've purchased property from John in the past in Avondale and flipped it. Flalandlord dot com has some meetings where investors get together for lunch, the guy who runs it is Paul Howard and he may have some people looking to sell in our area. Lastly you could go to the JaxREIA shows, once a month, where investors get together to discuss properties and when the good times are coming back. There are some really smart people who have been in the rental market for many years.

Lastly, you could go to a realtor, but the issue I have with a realtor, and my wife is one, is that they will hound you, and I mean hound you to sign paperwork to work exclusively with them. After all, they insist that their time is worth something, and I agree it is, but if you go and do any of the work yourself above with any of those 3 options, you will find the values of property in our area. Banks appear to be selling properties through realtors now, very few REO divisions in a bank, but there are some, I know Florida Capital Bank has a list of "distressed" properties it owns in Florida available on their website, but their valuations are crazy.

Best of luck to you and happy hunting!

[JaxJerry]

mtraininjax,

I found your reply to be very insightful.  Thanks for responding.

[mtraininjax]

I found your reply to be very insightful.  Thanks for responding.

You are most welcome!

[JFman00]

I've seen huge mansions appraised wayyyy down to match sale price. Good for taxes, bad for resale IMO.

[mtraininjax]

I've seen huge mansions appraised wayyyy down to match sale price. Good for taxes, bad for resale IMO.

What is worse is that the City only views a sale as one between 2 willing parties. So a foreclosure, while it affects the resale market, is not counted as a comparison sale by the City for the comps in an appraisal. Got that from the Property Appraiser for the City of Jax. So if you buy a foreclosure, you cannot use that sale price as the valuation with the city on your assessed value. You have to wait a year and go to the Value Add Board and fight the valuation.

Its another ridiculous process that should be changed.

[avs]

I sent you a PM Ben says, FYI

[ben says]

Often times, the best buildings for sale are the ones who look like they are ready to foreclosed on, weeds high in the yard, paint peeling, general lack of repair. With the great recession, there are a boatload of these out there in Riverside/Avondale.

These are the exact kind of houses I'm looking for. Want to do this two fold: help Avondale/Riverside realize it's full potential/enhance the neighborhood, and flip a few. Some I'll want to just rent out.

Thanks for the info.

I sent you a PM Ben says, FYI

Got your info. Going through the neighborhood the next few weeks with my dad (whose been in the real estate game for 40 years). May be calling on you, as his specialty is commercial, not residential.

Thanks for everyone's help.

[mtraininjax]

help Avondale/Riverside realize it's full potential/enhance the neighborhood

The Riverside / Avondale Home tour is April 21-22, you can get details on the houses on the tour and locations here:

http://www.riversideavondale.org/index.php?id=215

A great way to see how and what others have done to their homes, maybe get a few ideas as well.