$1,600,000

As-is price

Purchase price

$232,934

Renovations

$2,829,750

Sales price

Resale price

$996,816

Profit

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Scope of work

Flooring, baseboard & trim, interior & exterior painting, door replacement, bathroom refresh, kitchen refresh, and lighting enhancements.

Before & After

Summary

Agent Lisa McCann and property advisor Luke Gutierrez recently tackled the transformation of 4574 Atascadero Dr. located in the highly sought out neighborhood of 'The Hope Ranch Annex' in Santa Barbara. The seller, with most of his assets tied into the property, was gearing up for a move to the East Coast. Initially valued at $1.6M, with a projected after-renovation value (ARV) of $2.3M, there was a clear opportunity to increase its value with targeted renovations. By investing $232,934 worth of renovations fronted by Revive, we focused on enhancing the home's appeal, including tasks such as painting cabinets, interior paint, kitchen and bathroom remodels, and addressing potential mold issues. With the right improvements, the sales price reached $2,829,750, a significant increase from its projected as-is value of $1,600,000. This strategy resulted in an additional profit of $996,816 for the seller, a remarkable 427% ROI, and a 77% increase in commission for Lisa.