944 Eagle Ave. | West Alameda

Looking to sell their investment property while the market was hot, the sellers of 944 Eagle reached out to us in April of 2022 to discuss the sale of their two homes. We advised them that due to there being a tenant occupying one unit, and both homes being in disrepair, that their home would likely sell for $1.2m to $1.3m in the current condition. We advised the clients that if they prepared their homes for market, they would likely sell for a minimum of $1.5m but could potentially get as high as the highest sale of $1.65m. After spending $120,000 ($75,000 of which was loaned to the clients at 0% through our Concierge Program) to renovate the two homes in 5 weeks time, their home was listed in June of 2022. Even though market conditions had changed drastically, with the stock market plummeting and the Feds announcing a huge increase in rates, we were able to still solicit 9 offers on their home. In the end, we were able to negotiate an as-is non contingent sale at $1.8m, breaking a record of $150,000 higher than the highest comparable sale and 51% over the list price rewarding our clients with an additional $500,000 return on their investment.

The Details:

• 2 Homes on 1 Lot • 1st Home: 2 BR 2 BA 1375 SF • 2nd Home: 4 BR 2 BA 1818 SF
• As Is Project Sale Price: $1.3m
• Prepped Projected Sale Price: $1.5m – $1.65m max.
• List Price: $1,195,000
• Sale Price: $1,800,000
• 33% over asking price
• $503.77/SF (based on tax record of 3573SF. If we base it on the recent measurement total of 3195 then its $563.30/SF)
• Offers: 9
• Days On Market: 16 days
• Home Preparation Budget: $120,000 | $75,000 of this budget was paid for up front by our Concierge Program
• Time to Prepare Homes: 5 Weeks
• ROI: $120,000 created $380,000 in return with an 316% ROI