This 1555 SF 3-bed/2-bath house was built in 1911 was in need of substantial repairs. It had suffered numerous disjointed renovations over the years that had stripped all character out of the house. The floor plan was confusing and chopped up.
The renovation by RESTORE 818 was a top-to-bottom restoration including; redesign of the floor plan with elimination and relocation of walls, the creation of a large master suite, the addition of a half-bath, and the conversion to a cathedral ceiling in the living room. The yard received a professionally designed landscape that created an oasis in the urban jungle.
The purchase price was $313,000. We obtained a Hard Money Loan that included a $95,000 holdback for the projected Rehab budget of $115,000. The targeted resale was $519,000. The property sold over asking price after receiving multiple offers during the first weekend’s open house. See the summary slide below for the investment returns on this property.