Asking Price: $2,250,000
Living Size: 2000
(per the MLS)
Lot Size: 5604 sf
Year Built: 1925
I viewed this home over the weekend and I have to say it’s probably one of the better gut jobs I’ve seen done by a home flipper. The upside to purchasing a home that’s already been remodeled is, you the buyer, don’t have to deal with the headache of managing a renovation project. Plus A flipped home is usually move-in ready. Two major reasons people like buying homes that have been remodeled.
On the flip side there’s some downsides to purchasing a flip as well, you pay a premium which is fair for someone else taking the risk and dealing with the headaches, but you also have no control over the quality or design of the flip. So this is where buyers need to beware. I’ve seen plenty of flips where the investor/flipper makes something look pretty but it’s done poorly and cheaply which means more out of pocket costs for the future owner.
With this said, that’s why I was impressed with the work that was put into redoing 4184 Mildred, Culver City CA 90066. The designer/flipper put a lot of thought into the details and it shows. From the hardwood and poured concrete floors throughout (which is pricey) to the iron door detail that separates the formal and great room living space. They added roughly 1000 sf which turned it into a 3 bedroom, 3bath home and created a beautiful flow from the back living/kitchen area into the outdoor space. If I had to list some of the negatives would be to the wasted space at the entrance of the home. I wish they would have thought out the floor plan in the front of the home and figured out a way to integrate it a little better into the overall design. And I think they should have moved the gate closer to the lot line and created some sort of designated parking area because this property does not have a garage. By moving the gate up you provide more space for gated parking which would allow the new owner to add a pool on the side of the home. But neither of these comments are deal breakers in my opinion and can be easily done by the new owner. If I were the buyer, I’d add a pool along the side of the home to complete the indoor-outdoor entertainment space and increase the value of the home. The finishes they chose along with creating a vaulted ceiling are the touches that elevate this home from just an ordinary flip to one that really stands out. They just had a major price reduction which I think was the right thing to do when comparing it to other homes in the are. But at its current price it’s definitely in the ball park of where this house will sell at especially with all it offers.
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Listing & Photos courtesy of Halton Pardee & Partners Inc.