People often ask me if all foreclosures are in horrible condition. The answer is no. I’ve seen perfectly fine bank-owned houses. The former owners are NOT supposed to take ceilings fans, light fixtures and appliances - but those are the 3 items that most commonly disappear with the former-owners.
But this house was shocking - CRIMINAL - the former owners left behind a few ceiling fans and light fixtures but TOOK ABSOLUTELY EVERYTHING ELSE.
The drywall - gone. The carpet - gone. The tubs, sinks, toilets (except 1) - gone! There is not a speck of cabinetry in the entire house.
425 S OCEAN DR, Gilbert, AZ 85233
Bank Owned, listed for $94,900. AS-IS.
4 bedrooms and 2.5 bathrooms and 2,255 square feet
Was purchased in 2005 for $320,000.
This house must be purchased by a CASH buyer since you can’t get a loan on a house in this condition.
In the 15 minutes I stood outside waiting to show it to clients, 3 other Realtor’s with clients came to look at it! It was a popular property! This house is on a cul-de-sac lot in the much-loved Gilbert neighborhood - The Islands at Cooper & Elliot Rd. Similar homes in good condition sell for $235-$350,000 in this neighborhood.
At the writing of this post this house is still available for sale by Keller Williams East Valley Realty and Carol Royce.