414 Broad Street. Downtown Nevada City, Historic District, restrictions on development, Listed for $250,000

This is a unique property among fixers and dilapidated housing. There have been several in Grass Valley, and a few others close to down town, but nothing like this has ever come up- this is a small residential house right on the main commercial strip in Nevada City. It is a dream location… but how much would it cost to restore it? A million… two million…. and what would it be worth after you spent all that money? Clearly, I don’t think anywhere near a million would need to be spent. More like half a million, maybe a million… even so, when it was done, it might get $700,000, maybe just $500,000. It would depend on demand for the commercial conversion. If the commercial market was hot, this home might really go up in value. I don’t know, I think it is a cray idea.

Author: gordon

Nevada County Resident since 1988. Painting and Decorating Contractor 1985-2003 Nevada County Realtor Since 2004 Member of the Nevada County Masters Club (top producing agent) Every Year Since 2004

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