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28850 Vacation Drive, Canyon Lake, California 92587, Canyon Lake, 92587 - 3 bed, 3 bath

28850 Vacation Drive, Canyon Lake, California 92587 home-pic-0
ACTIVE$650,000
28850 Vacation Drive, Canyon Lake, California 92587
3Beds
3Baths
1,778Sqft
8,276Lot
Year Built
1985
Close
-
List price
$650K
Original List price
$650K
Price/Sqft
$366
HOA
$325
Days on market
-
Sold On
-
MLS number
25515455
Home ConditionPoor
Features
Good View:
Deck
Spa
Patio
View

About this home

Possibly Over-Priced:The estimated price is 59% below the list price. We found 3 Cons,6 Pros. Rank: price - $650.0K(46th), sqft - 1778(35th), beds - 3(50th), baths - 3(50th).

BRING ALL OFFERS! This is a Short Sale. This property is being Sold in its Present, As-Is, Where-Is Condition without any Warranties or Guarantees. Showings only with Proof of Funds to Close. Buyer must remove all contingencies and do all inspections and/or waive all inspections before the offer is deemed accepted. Check with City for all permits and to verify square footage before making offer. Mineral & Oil Rights Excluded from sale. DO NOT DISTURB OCCUPANTS! Have Appraisal at $750,524. Call before making offer, Lender has an Addendum that needs to be part of the offer.

Condition Rating
Poor
Built in 1985, this property is being sold 'As-Is' as a short sale, indicating potential deferred maintenance. The images reveal a significantly outdated kitchen with tiled countertops, dark traditional cabinets, and black appliances, along with a very basic, dated fiberglass shower unit in the bathroom. Flooring includes worn carpet and dated tile. These key areas require substantial renovation and rehabilitation to meet current standards, aligning with the 'Poor' condition criteria.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8276, living area = 1778.
Gated Community Access: Located within Canyon Lake, a private, gated community known for its exclusive recreational amenities (inferred from comparative properties).
Spacious Lot Size: The property sits on a generous 8276 sqft lot, offering ample outdoor space and potential for landscaping or future enhancements.
Functional Layout: Features 3 bedrooms and 3 bathrooms, providing a practical and desirable configuration for various household needs.
Existing View: The property benefits from an existing view, which can enhance its appeal and potential value.
Investment Potential: As a short sale, it may present an opportunity for an experienced buyer to acquire a property with significant equity potential after necessary investments.

Cons

Complex Short Sale & As-Is Condition: The property is a short sale and sold strictly 'As-Is, Where-Is' without warranties, implying a potentially lengthy, uncertain transaction and significant buyer responsibility for all repairs and due diligence.
Significant Price Discrepancy: The listing price of $650,000 is substantially higher than the estimated value of $260,798.26, indicating potential overpricing or a highly distressed state requiring considerable investment.
Restrictive Showing & Offer Conditions: Requirements for proof of funds for showings, and waiving all inspections before offer acceptance, create high barriers and risks for potential buyers.

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