Investor Special in Leisure World – Massive Value Add Opportunity!
ASK: $99,000
ARV: $175,000
Comps:
- 3352 Chiswick Ct #57-2G – $175k
- 3350 Chiswick Ct #57-3C – $163,900
- 3618 Gleneagles Dr #7-3H – $145k
Property Overview
- Type: 2BR/1BA Ground Floor Co-Op Unit in Leisure World
- Size: 1,035 sq ft (Garden Apartment Model – larger than most 1BR units!)
- Year Built: 1967
- Vacant – Ready for Fast Close
- No Mortgage – Clean Title!
- County Assessed at $110,000
- Annual Taxes: $1,360
- Condo Fee: $1,100/mo
- Legal Subdivision: Montgomery Mutual Co-Op
- Age-Restricted 55+ Community
Condition & Rehab Notes
Full Cosmetic Rehab Needed – Priced for Investors!
- Interior needs full cleanout and cosmetic updates:
- Flooring replacement throughout
- Full paint job
- Kitchen + bath update/refresh
- Removal of personal items and furniture (see detailed photos)
- Kitchen, appliances, and baths are original – blank slate for your remodel
- Mechanical systems believed to be functional but should be verified during inspection
- No known structural issues; being sold strictly AS IS
- Clean title – property bought outright, no mortgage
Community & Location Perks
- Leisure World is Montgomery County’s premier gated active-adult community, packed with amenities:
- 24/7 security, clubhouse, pools, fitness center, golf course, walking trails, medical center, free community shuttle, social activities, on-site restaurants & more!
- Beautiful, tranquil garden setting; this unit features:
- Large private balcony with scenic green views
- Easy access to parking and community shuttle
Investment Analysis & Upside
- Lowest priced 1BR/1BA unit available in Leisure World!
- Renovated units of this size have sold $130K+ (check MLS/county records)
- County assessment at $110K even in current condition – instant equity at list price
- Comparable rental units (post-rehab) command $1,500–$1,700/month (verify with your management team)
- High demand for affordable, accessible senior housing in Montgomery County
Best Buyer Profile
- Investors/Flippers: Update, clean, and list for strong resale premium
- Buy & Hold Landlords: Excellent rental cashflow in a highly stable senior community
- Aging Family/Relatives: Rare chance to renovate and hold for family in a secure, amenity-rich environment
Key Details & Disclosures
- Condo Fee: $1,100/mo covers ALL utilities, basic cable, exterior maintenance, master insurance, and Leisure World amenities
- Buyer responsible for HOA/Co-Op approval process
- Strictly AS-IS sale; seller will not make repairs or remove remaining personal items
- Clean title; seller is motivated – bring your offers!
- Buyer must be 55+ OR have eligible resident; confirm with HOA
Don’t miss this value-add special in a premier senior living community!
- Schedule a walkthrough
- All offers considered; cash/hard money/quick close preferred.