Eastside Property: Buyer wastes no time snapping up Eagle Rock Craftsman

Jun 21, 2013

The flippers who purchased this nearly century-old Craftsman back in early May for $485,000 managed to preserve some of the Eagle Rock’s home historic charm and features – including original wood molding and floors – while building a sleek new kitchen and adding central air and heat.

The three-bedroom home’s location just off  Colorado Boulevard puts it within walking distance of Colorado Wine Co., a  perennially packed Starbucks and other nearby shops and restaurants. But the El Rio Avenue home’s central location also places it  right next door to a  large Bank of America parking lot.

Apparently the prospect of living in a renovated and restored bungalow outweighs having a parking lot as a neighbor – the home went into escrow this week only seven days after going up for sale at $699,000, according to Redfin.

If this deal goes through at or above the asking price,  it means the investors who own this place will have sold it for $214,000 more than what they paid only a few weeks earlier.

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