Posted by Mary Jo Winter on January 25th, 2011 |
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This Hillside Dr. home is a diamond in the rough.
Located at 542 Hillside Drive, this 2 bedroom 2 bath home in NW Cloverdale is close to everything, but tucked away in its own little corner of the world.
It last sold in 1982 for $24k. At the peak of the market in 2007, the estimated value was over half a million dollars, but with the real estate bust, that figure dropped dramatically.
Over the years, the house fell into disrepair when the previous owner could no longer keep up the maintenance by herself. She finally decided she just wanted a quick sale so she could move out and get on with her life.
The property was never publicly listed for sale. Instead, two lifelong Cloverdale families, long time friends of the owner and her family, agreed to jointly purchase the 1955-era house on a third of an acre for $180k. The sale – a win-win for everyone – was completed December 9.
The pool is tucked into a corner of the huge backyard.
The new owners are updating the 1,563-square-foot house themselves by gutting the inside, putting up new walls, and installing new plumbing, electrical, and modern appliances.
They are also clearing the overgrown and littered backyard, including the patio and pool area.
“We’re having a lot of fun with this now,” the buyers said, “but check back in about six months. We might feel differently by then.”
Once completed, the newly-refurbished house will become a hot rental property in a very desirable area of cool, cool Cloverdale.
One Response to “Recent Cloverdale home sale was a win-win for all involved”
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This is a nice story! Thanks for sharing!