Another New Construction Success Story

[Will Barnard]

From close of escrow (COE) at purchase to COE at sale, it was 11 months to complete this project. I expected it to be no more than 9 however, I experienced a major delay in getting my custom windows (loss of 6 weeks) plus utility delays and a few minor weather delays (we don't get much of that here in sunny So CAL!).

Purchased for $738,000, the original 898 SF home was demolished excluding about 4 lineal feet of 1 wall and it became a new contemporary 2,290 SF custom home which sold with multiple offers all over ask price. List price was $1,469,000 and it sold in just a few days for $1,560,000. Funded in part with private money and the balance with investment partners, the project created profits in excess of $200,000. Needless to say, it was a successful endeavor - see some photos below:

After the original home was demolished - 

After framing - 

During Stucco - 

And the finished product - 

[Will Barnard]

Originally posted by @Charles Molluzzo:

The project looks really beautiful.  Congratulations on the successful job!  @WillBarnard, was the 4 lineal feet of 1 wall left for tax reasons?  I am not familiar with California regulations and tax rules.

 No, it was left for City building and safety purposes. By leaving a small portion of the existing, when permits are pulled for the construction, it goes under a “rehab/addition” which saves time and fees. If 100% is demolished, then the timeframe for permits and the costs go up.