Want a quick money-spinner? Well, if you’re handy at building single-family homes, we hear that Jefferson Park has become all the rage with small-time developers. According to Jan Robertson at Century 21 McMullen, developers are buying up little bungalows on wide lots for between $250,000 and $300,000, bulldozing them and constructing two single-family homes on the one lot, selling both for around $675,000 to $750,000.
Of course, if you want an affordable single-family home, get yourself to Jeff Park before the developer does. But at least the new single-family homes are less expensive than in more central neighborhoods where they are making their way past the $1 million-mark.
Oh, and they don’t wait for the For Sale signs to go up in Jeff Park, they just knock on the door and make an offer, apparently.
The traditionally Polish neighborhood is becoming popular with homebuyers because it’s close to a blue line station and the Kennedy and Edens expressways.