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 at full price on the 1st day of the home being shown. See the summary slide below for the investment returns on this property.