$2,250,000

As-is price

Purchase price

$224,861

Renovations

$2,770,000

Sales price

Resale price

$295,139

Profit

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Scope of work

New flooring, baseboard & trim, interior & exterior painting, bathroom & kitchen remodel, and lighting enhancement.

Before & After

Summary

Located in Manhattan Beach, CA, this 4 bd/2ba house located at 2116 N Ardmore Ave, had its fair share of challenges. Listed as-is at $2,250,000, homeowner Linda B., residing in Chicago, and her son Mike were under pressure to sell quickly due to their reliance on rental income. Despite a recent price reduction from $2.45 million, the property, in a midline price range, lacked the appeal of a turn-key home. Revive Property Advisor Bryten Hanson and agents Deanna Wallo-Whipp and David Caskey of eXp Realty of California Inc. decided a strategic pre-sale renovation plan was in their seller’s best interest. With an investment of $224,861 fully fronted by Revive, the team revitalized the property, focusing on key areas such as flooring, a kitchen remodel, and lighting enhancements. This transformation boosted the property's market appeal and value significantly. The renovated property sold for $2,770,000 after receiving multiple offers, netting the sellers a profit of $295,139, totaling a 131.25% ROI. Not only did this strategy resolve the homeowner's urgent need to sell, but it also increased the agent’s commission by 23.11% and helped the sellers make the most of their home equity.