488 Roosevelt

This property was in desperate condition when we first were brought in by the executor of the estate. The owner had let this 3 bedroom/2 bath Corona Heights townhouse completely go in his later years. It was essentially uninhabitable and unlendable. At best they might have gotten $850,000 for this 1500 sq ft condo. With our program we came in and did a total renovation – Kitchen, both baths, all new flooring, many new front windows, new lighting, plumbing repairs, painting and wall repairs, sound proofing and staging. All told we spent about $230,000. We brought the property on the market and it sold with multiple offers for $1,630,000. So a net to the sellers of more almost double the investment.

PreRevive Value: $850,000
Renovation Costs: $230,873
Sale Price: $1,630,000
Additional Profit to seller: $549,427