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Case Study 02: Managed Short-Term Investments

Resurrecting Lester Avery

Mid-century architecture is often buried beneath decades of abuse and haphazard “renovations.” That was definitely the case with this home designed by the renowned post-WW II South Florida architect Lester Avery.

A carport conversion and addition were turned into rental units, making the home a non-conforming multi-family. The restoration to its’ highest and best use as a single family residence required a major renovation, beginning with a major floor plan reconfiguration, upgraded plumbing and electrical. Other work included; an 800 Sf master suite, refurbished terrazzo and 24” porcelain tile, custom exposed ductwork and custom wood cabinetry. New hurricane impact windows and doors and a new roof maximized resale value.

The property was purchased all cash. We obtained a $100,000 construction loan & paid the balance of rehab costs in cash. The property sold all-cash on the 1st day of the home being shown.

See the summary on slide #1 below for the investment returns on this property. The before-after gallery continues on several pages so be sure to use the arrow at the bottom of the gallery images to navigate to additional photos.