Home for Sale at 502 Smithwood Dr, Beverly Hills, CA 90212

502 Smithwood Dr
Beverly Hills, CA 90212

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Property Details

List Price:	$3,699,000
Beds:	8
Baths:	--
Status:	Active
SqFt:	6740
Agency:	Compass

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Description/Comments

Lot Size:	--
Property Type:	MultiFamily
Year Built:	1953
Notes:	MAJOR price reduction for emergency liquidation! Sellers must sell immediately! OFFER DEADLINE: Friday, May 10 at 5pm. An unmissable income opportunity awaits the fortunate new owner of this fantastic fourplex, as motivated sellers have reduced and are ready to move! Presenting a rare chance to own four homes on a corner lot, centrally located on a prime tree-lined street in a coveted Beverly Hills neighborhood close to all. Live in one and rent out the others, or utilize this desirable fourplex as passive income, making this property a great investment offering lasting value for many years to come. Set behind charming wrought-iron gates, the building's delightful Mediterranean facade affords beautiful and welcoming curb appeal amidst lush plantings and mature leafy trees. These residences have been meticulously updated throughout and present a variety of modern amenities for today's lifestyle. The two larger units are mirror images of one another and each include a fireplace in the living room, formal dining room, breakfast nook, and kitchen with copious cabinetry and top-of-the-line stainless-steel appliances. The primary bedroom has an adjacent sitting room/office, additional bonus room, dual walk-in closets, and en-suite bathroom with separate tub and shower, water closet, and dual-sink vanity with makeup desk. Other bedrooms and bathrooms are well appointed and spacious. Two rear units offer one bedroom each. Shared outdoor spaces comprise multiple lounging patios, decks, grassy yards to roam and play, and a soothing fountain. The property is sited just moments to numerous entertainment and recreational venues including golf courses, parks, restaurants, theatres, museums, and the iconic shopping of famous Rodeo Drive. Century City and major freeways are just a short drive away.
MlsNumber:	23-306439

Listing Provided By:	Compass, original listing
Name:	Compass
Office Name:	Compass
Office Phone:	(310) 230-5478
Agent Name:	Sally Forster Jones
Disclaimer:	Copyright Â© 2024 TheMLSCLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Free Foreclosure Listings

USHUD.com is a website that simplifies the process of finding foreclosures and HUD properties. Everyone thinks they are a real estate web surfing pro until they search for foreclosure homes and stumble upon a numerous sites that want to charge a fee to see their listings. With USHUD.com that’s not the case. When searching for HUD properties or a home finding website for foreclosure it is important to know what you are looking for. It is important to use a niche company that specializes in foreclosures like USHUD.com. We have put together 2 tools that have made the real estate search process of our website much easier to navigate. The Homesearch online tool is filled with foreclosure lists and free listings of hud homes for sale. Most of our users start with a broad search with the homesearch online tool to see the most HUD properties and foreclosure lists in your area and narrow their search down with the Homefinder online tool. The homefinder online tool is a custom filter system that we breakdown the area based upon filters such as convention and foreclosure listings. This give you the option to filter out conventional listings and focus on just the foreclosures in the market. We thank you for making us Americas top home finding website for foreclosure and Hud properties. Free listings of hud homes for sale are hard to come by but should always be free and that’s the way things are going to stay on our website.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

USHUD.com is a private company not affiliated or associated with or endorsed, authorized, approved, sponsored
or licensed by the US Department of Housing and Urban Development

USHUD.com is an Equal Housing Opportunity

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