November 30, 2011

BLACK FRIDAY DEALS: Cheapest house in Contra Costa County

If you want a property DEAL, you have come to the right place!  Contra Costa has two different kinds of value to offer.  First, there’s classic urban decay in Richmond, with poorly maintained homes and the threat of property damage.  But CCC sweetens the DEALS with exurban abandonment from Antioch to Discovery Bay!  Plus there’s an interesting demographic shift of lower-income inner city residents to the far-flung exurbs, and watch hijinks ensue!

There were 236 listings available for under $100,000 in CCC, so you’re sure to find something suitable at a price you can afford.  Maybe think Costco and buy several at once. 

Today’s house is less than half the price of yesterday’s DEAL, yet it is completely intact and there’s not a word about fire damage.  CHECK IT OUT!

8 W BISSELL Ave #201, Richmond, CA 94801
$30,000

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BEDS: 1
BATHS: 1
SQ. FT.: 554
$/SQ. FT.: $54
LOT SIZE: –
TYPE: Patio Home/Villa
STYLE: Other
STORIES: 1
YEAR BUILT: 1942
COMMUNITY: Atchison Village
COUNTY: Contra Costa
MLS#: 40524154
SOURCE: EBRD
STATUS: Active
ON REDFIN: 200 days

Own a piece of History! Cozy 1 level end unit in Atchison Village Co-Op. Light and bright, freshly painted, refinished wood floors, new windows, updated kitchen and bath, fenced backyard. Very convenient commute location & a price you can’t beat.

imageThis “end unit” came up in a Redfin search for “houses,”  with townhouses and condos excluded.  Patio Villa looks like a fancy way to say condo, complete with $265 a month HOA.  But since this is a 450 unit co-op, it’s 100% owner-occupied. 

It does indeed have an interesting history, built as housing for defense workers during World War II, and still home to some of them, or their descendants.  Also, since the entire parcel is owned by the co-op, you get low, low, low Prop 13 valuation no matter how many times an individual unit changes ownership!  That’s because you don’t own the land, the co-op does.

You won’t be able to get a conventional mortgage to buy here, so either scrape up the cash or find yourself a co-signer willing to put collateral on the line. Where else are you going to buy your own place for $30,000 right on the Bay? Well, 13 feet above the Bay.

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Also, it’s located within the happening Iron Triangle area of Richmond. But not too happening, as the Streetview picture shows: you have gates to keep the 99% out! Or maybe since we’re talking about a $30,000 property, you can keep the 1% out!

Comments (7) -- Posted by: madhaus @ 4:05 am

7 Responses to “BLACK FRIDAY DEALS: Cheapest house in Contra Costa County”

  1. nomadic Says:

    In Richmond, you don’t need a fence to keep the 1% out. Unless they come to collect the rent in person.

  2. sfbubblebuyer Says:

    The cooking oil on the gate keeps it non-squeaky and rust free!

  3. madhaus Says:

    They don’t need cooking oil on this gate, sfbb. Don’t you see that NO sign on the wall? It says NO SOLICITING THE HIGHFALUTING FOLKS IN THE GATED COMMUNITY.

  4. sfbubblebuyer Says:

    For $265 a month to the HOA, they darn well BETTER keep the fences slathered in cooking oil! What are we paying them for if not to make the prostitutes extra slippery?

  5. z2amiller Says:

    Wow, at 30k, your mortgage payment (And probably even mortgage + taxes with the prop13 goodness) would be less than half of your monthly HOA dues.

  6. ms Says:

    The property would have been cash-flow positive but for that darn hoa

  7. madhaus Says:

    ms, no it wouldn’t, because you aren’t allowed to rent these out. It’s not all that easy to get a mortgage on these, either.


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