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.