PROPERTY RENOVATIONS by Bob Locke

 

GRENADIER - SOUTH SHORES, SAN PEDRO


 

This 1964 four bedroom, three bath house was in dire need of upgrades due to severe deferred maintenance. The women who owned it was ill, in her late 90's and had been there since the 60's. The house had a huge amount of clutter which took months to clear. I brought in my crew to paint the exterior, replace all the original windows with dual glazed windows, refinished the pool deck, cleaned up the garden and repaired a section of roof in phase one of the project. Phase two we painted the entire interior, replaced all doors with solid core, repaired a leaky sewer line, and bathroom valves as needed. We also remodeled the kitchen with granite counters and engineered floors, installed all new carpets and installed a completely new heater system. I orchestrated the entire project from start to finish over a period of six months. The results proved very profitable for the sellers/siblings of the owner.
 
 

 

PETALUMA  – LAKEWOOD


 

This 1950’s 3 bedroom, one bath house was in rough shape. The owner knew it would require a lot of work to make it saleable and had already moved to Washington state. He knew that in the condition it was in at the time that he would be lucky to get $500,000 for it. I brought in my crew to renovate; amongst other things, the house needed a new roof, garage door, the bathroom needed a full remodel, we added French doors to the living room, replaced all interior doors, all new windows, new exterior and interior paint, new carpets, we even put in central heating. The project took 9 weeks and the cost was $35,000 to the owner. When I sold it for $585,000 the owner was very happy to realize a $50,000 profit!!

See TESTIMONIALS – Keith Shimizu

 

 

 

 

1848 ROSEGLEN, SAN PEDRO


 

This home was on the market for 6 months with another Realtor and had fallen out of escrow 3 times. The last accepted offer was $370,000 but it did not fly, the buyers backed out.

 

The owner, now very frustrated with his Realtor, was referred to me by a past client.

 

We brought in our team and renovated the house for $12,000 in 6 weeks. We repainted inside and out, reworked the kitchen, new berber carpets and re-landscaped.

 

I sold the property in one week for $429,000. A net gain to the seller of $47,000.


 

 

MONERO ST – PALOS VERDES


This 1960’s 4 bedroom house was pretty much all original. Although well maintained it did not show well at all. I went in with my team of contractors and in four weeks we replaced all the old windows, put in solid core interior doors, repainted the interior in designer colors, put in a new tile floor and all new carpet – total cost to the owner was $20,000, estimated increase in value was $65,000.

 

 

BEACH ST – CERRITOS
February 2012


 

 

This home belonged to the mother of a previous client. See PETALUMA – LAKEWOOD – She had lived in the house for 40 years and collected a lot of “stuff” so de-cluttering and disposing of the contents was a major effort. I brought in my team and we replaced counter tops, shower stalls and tile in the bathrooms, tore down horribly dated wall paper and “popcorn” ceilings on one bedroom. We also did touch up paint throughout and completely repainted the decks in the back yard. The total cost to the owner was about $11,000, the net gain in sale price is estimated to be between $30,000 and $40,000. 

 

CABRILLO - TORRANCE

 
This 1949 3 bedroom, one bath house had been a rental and needed some serious TLC. The owner listened to my plans for the house and in about two weeks we were ready for the market. We spent about $8,500 and had an estimated increase in sale price of $37,000. Net profit to the seller was $29,000!
 

 

 

765 W. 26TH STREET, SAN PEDRO




  

This Condo is in a complex where the high sell price was $200,000. In the condition this unit was in, the best we could expect would be to list it for $189,000 and see where it might land.

 

I brought in my team, we took down the popcorn and textured the ceilings, repainted in designer colors, pulled up the vinyl floors and put down tile, replaced the stove and laid new Berber carpet. Total cost to the seller was about $7000.

 

I listed the unit for $229,000 and sold it for full price in 3 weeks. An estimated net gain of $33,000 + to the seller.

 

See TESTIMONIALS – KATHY MAHER

 

 

8828 PERSHING DR, PLAYA DEL REY


 

I was referred by a client that was familiar with my work and track record. 

 

The surviving owner of this condo by LAX was 85 and in a home. His son Steve called me in to check out what needed to done to make the place marketable. The place was dated and definitely looked “very lived in”, everything was pretty worn out. I brought in my team and we repainted, re carpeted, brought in a few new appliances and did some substantial cleanup. I accomplished the task in about 2 weeks.

 

In its condition at the onset they would have been lucky to have gotten upper $400’s for the property. The cost to the seller for the renovation was about $10,000. I sold the unit for $560,000 for a net gain of about $55,000 to the seller.

 

See TESTIMONIALS – Steve Yorg

 

110 N. MARSHALL CT, SAN PEDRO


 

This 3 bedroom condo was listed with another realtor at $299,000 for six months without a single written offer. Apparently one realtor called and asked “Do you think the seller would take $250,000?” The seller was extremely frustrated as she had already moved to Colorado and was supporting both a house rental there and the condo.

 

I met with the seller in December of 2003 and told her she would have to cancel the listing with the other broker before I could do anything. The broker would not let her out of the contract, despite her persistent efforts, so she was unable to list with me until early March 2004.

 

We wrote the listing agreement at $329,000 and I began working on the property on the 8th of March. We finished the upgrades at a cost of $8500 on March 20th and went on the market at a price, suggested by me, of $339,000.

 

By March 24th we had multiple offers, accepted a very solid offer of $345,000 and closed escrow in two weeks. Net gain to  the seller of about $86,500.

 

 

 

MIRALESTE CANYON ESTATES – SAN PEDRO


This condo just needed new paint colors and some decluttering to make it a showpiece – seller got top dollar, at the time – 2004 - this one bedroom unit was the highest sale price in the complex at $255,000!!

 

16700 YUKON, TORRANCE


 

This Condo is in a complex where the high sell price was $185,000. In the condition it was in the seller wanted to put it on the market for $180,000 hoping to net $175,000.

 

I brought in my team and upgraded the unit for about $3200. I suggested we list it for $199,000 as the seller was in escrow on a new home in Lompoc.

 

There were multiple counter offers. I sold the unit for $206,000. A net gain to the seller of $28,000+ .


See TESTIMONIALS – MARK MALENBAUM

 

 

2222 S MESA – SAN PEDRO



 This condo just needed new paint colors and some decluttering to make it a showpiece – seller got top dollar, estimated gain was $50,000!!

 

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