Update on Real Estate in Shaw
As a follow up on the projects progressing in Shaw, I wanted inform everyone that 4100 Detonty has started demolition, 4012 Shenandoah has started demolition, Cleveland Arms has started interior construction, and 4247-49 Russell will be under contract by developers this week with a closing within 30 days.
4126 Shenandoah is under construction and will be a 2700 sq. ft home with the 275-325,000 price range.
4051 Cleveland is under construction and the rear wall is being rebuilt. 4165 Shenandoah also appears to be under construction. I will follow up to see who is doing it and when it will be done.
On the rental side, 4066 Shaw (across form Sahsa's) is being improved/updated. And 4215 Botanical has a new roof and new tuck pointing. Spacious 4048 Cleveland is about 2-3 months away from being completed into high-end units which will rent for around $1000 per month.
This is a great time to live/invest in Shaw. Real Estate deals with buildings in need of renovation are attractively priced and the for sale and for rent market for the completed rehabs is great. Single Family Rehabs are selling between 105-115 per square foot. Rehabbed rentals are priced between .75 cents and $1 per month.
I think our market needs more rehabbed single family properties. I think 4 bedroom homes and homes with master suites on the first floor will also fill a need. Last, I think there is a need for more high end rentals with granite/walk in closets/hard flooring/etc.