Captain Long Story, US Cavalry Posted March 19, 2014 Share Posted March 19, 2014 Historic Victorian Home Listed At $1 Comes With A Catch You can’t get much for a dollar these days, but that’s all you need to buy a Victorian home in Riverside, about 60 miles from Los Angeles. The city is trying to pass a 4,800-square-foot home off to someone who will turn it back into a beauty. So what’s the catch? The new homeowner has to move the five-bedroom house or buy the land, according to Emilio Ramirez of Riverside’s community development department. They’d also have to preserve the structure and restore it to its original condition. “It has a lot of character. It has a lot of history,” Ramirez said. City leaders bought the blighted property a few years ago in hopes of developing the land and improving the neighborhood. Attorney Boyd Jensen bought a historic home, also located in downtown Riverside, for approximately $200,000. He says it’s taken a lot of effort to restore the 2,500-square-foot home. “It would cost over $100,000 to bring it up to where it is now,” Jensen said of the house currently on the market. http://screen.yahoo.com/popular/historic-victorian-home-listed-1-061100160.html Link to comment Share on other sites More sharing options...
Virgil Ray Hality, SASS# 37355 Posted March 19, 2014 Share Posted March 19, 2014 yeah... what is the cost of the land? Restoratrions are very costly. Link to comment Share on other sites More sharing options...
Four-Eyed Buck,SASS #14795 Posted March 19, 2014 Share Posted March 19, 2014 Land ain't cheap, moreso in Ca! a grand old painted Lady Link to comment Share on other sites More sharing options...
Badlands Bob #61228 Posted March 19, 2014 Share Posted March 19, 2014 It's all about location. If it's in a rough neighborhood, I wouldn't give you a $1 for it. Link to comment Share on other sites More sharing options...
Forty Rod SASS 3935 Posted March 20, 2014 Share Posted March 20, 2014 Ask Jittery Jim Jonah what it costs to paint a Victorian in Riverside..... even one considerably smaller that the one in question. I wouldn't take it as a gift. Link to comment Share on other sites More sharing options...
Yul Lose Posted March 20, 2014 Share Posted March 20, 2014 I had a friend in Az. that used to do these home restorations for a hobby. The last one put him into bankruptcy. Link to comment Share on other sites More sharing options...
JudgeBagodonuts Posted March 20, 2014 Share Posted March 20, 2014 Wood framed Victorian houses are generally considered to be the most expensive to restore. My next door neighbor confided in me that he's spent $150k to restore his, on top of the $200k he bought it for 20 years ago. He's trying to sell it for $375k, and expects to take a loss. JB Link to comment Share on other sites More sharing options...
Jittery Jim Jonah, SASS #64913L Posted March 20, 2014 Share Posted March 20, 2014 Ask Jittery Jim Jonah what it costs to paint a Victorian in Riverside..... even one considerably smaller that the one in question. I wouldn't take it as a gift. The area where this one and the one next door are is now medical/ commercial due to the city redevopment agency (now eliminated by the state). It used to be one of the oldest and nicest residential areas in the downtown area. The house I moved and restored 26 years ago was across the street. It is for sale now as I am preparing for my life of leisure..... http://www.3092limestreet.com Using an inflation calculator to take my cost in 1986 and compare to today would put this rehab in the $600k plus range. The big x factors are 1) the cost of the land cuz it has to be moved within the city; the only lots now are 160K plus, adding another 60K to the above price, and 2) how far it has to be moved and what has to be moved to get it there. This could go well over 100K depending on where it is moved..... And all this is the just the bare minimum to get occupnacy. The city wants the homes 'restored' to their original condition which means there are additions that have to come off and the cost for custom replication of details, moldings and such. The new owner can save some costs by doing most of the work themselves but that's what I did so the cost would be pretty close I think. AND you gotta have someplace else to live cuz the city won't let anyone occupy the house until you have an occupancy permit, which means about 80% of the work needs to be done before you move in.... It took me almost 16 months to get occupancy on mine and it was about just as bad just no additions to remove. So there ya go. The house next to this one is in much better shape and probably could be occupied shortly after it is moved and connected to city services. It's not as grand tho... And I forgot the garage and workshop. Ya gotta have both with an old house.... Mine went up 8 years ago and was just under 40K. Today that would be $71,000 today. JJJ-D :ph34r: Link to comment Share on other sites More sharing options...
irish ike, SASS #43615 Posted March 20, 2014 Share Posted March 20, 2014 I have been the Architect on a few house restorations. Removing the "lead" paint is very spendy. $100,000 wouldn't even get it ready to restore. Land and moving costs will be that. Ike Link to comment Share on other sites More sharing options...
Jittery Jim Jonah, SASS #64913L Posted March 20, 2014 Share Posted March 20, 2014 I have been the Architect on a few house restorations. Removing the "lead" paint is very spendy. $100,000 wouldn't even get it ready to restore. Land and moving costs will be that. Ike I was lucky, no lead based paint, musta all wore off.... This here one might cuz several of the rooms look very early or original paint. JJJ-D :ph34r: Link to comment Share on other sites More sharing options...
Badlands Bob #61228 Posted March 20, 2014 Share Posted March 20, 2014 Moving a house that big and old could cause all sorts of damage. They didn't have building codes or standards when this house was built. Forget about anything from Home Depot fitting correctly. Doors and windows will all need to be refitted or replaced. Moving it will crack every piece of plaster in the house and the list will go on. That is if it doesn't fall apart in the street as your moving it. This thing has spent the last 100 years settling. Restoring it in place would be the only viable option and that would be expensive. And there is no telling how much lead based paint, mold or asbestos you might find in that house. Link to comment Share on other sites More sharing options...
Jittery Jim Jonah, SASS #64913L Posted March 21, 2014 Share Posted March 21, 2014 Moving a house that big and old could cause all sorts of damage. They didn't have building codes or standards when this house was built. Forget about anything from Home Depot fitting correctly. Doors and windows will all need to be refitted or replaced. Moving it will crack every piece of plaster in the house and the list will go on. That is if it doesn't fall apart in the street as your moving it. This thing has spent the last 100 years settling. Restoring it in place would be the only viable option and that would be expensive. And there is no telling how much lead based paint, mold or asbestos you might find in that house. In my case we had very litle cracking and damage to plaster other than what was already damaged before the move. All the doors and windows worked fine after they were un frozen (windows). All of the weights were isndie the casings but the ropes had to be replaced! Several of the doors had to be rehung more due to the entire jamb and door being moved to another part of the house. There were a lot of changes over the years, and we also used parts from 8 other salvaged homes to keep costs down. A big challange was filling in using drywall into plaster. We discovered that if you placed lathing on the studs the drywall matched perfectly!. And the repairs to match full dimension lumber was a challenge as well. For the front porch posts I had to search three counties to find a place that had rough sawn 14' red wood posts that were 6X6 so we could finish them to 5.5". And no asbestos (space heaters were used, no furnace system) JJJ-D :ph34r: Link to comment Share on other sites More sharing options...
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