Fab Flip at The Beverly Brings New “Product” to Market

Older condo buildings have this problem where it’s mostly the junky, outdated units that make it to market. By having no “new” product, buyers are either renovators or blind. You see, when a renovator buys one of these units, they mostly keep it. What these older buildings need are flippers who return older units to shiny and new to attract the move-in ready buyer. This unit at The Beverly fits the bill.

This second floor, treetop view unit has two bedrooms and baths within 1,378 square feet. The property has been reduced to $439,000 or $318 per square foot (perhaps still a pinch high for the building). HOA fees are reasonable $1,050 per month. All in all, not a bad set of numbers for a sparkly-new Turtle Creek condo.

Speaking with Jared Reed of Intown Dwellings Realty, this project is the flipper’s first – which is great! She went a little over budget but that’s a win for a buyer who gets a little more. Judging from the finish materials and style, she’s on her way to becoming a quality flipper. One reason to flip in a high-rise is that the HOA takes care of any foundation, roof or plumbing issues. This takes a weight off a flipper and enables them to concentrate on the finish out.

Aside from paint, this unit was quite original. The master bath was nothing special and a mile away from how it looks today with a double sink, new cabinetry, glass shower, new lighting and even a stand-alone bathtub.

The original 1980s kitchen was “totally rad” back in the day. And even though the countertops were replaced at some point, it’s hardly a kitchen to inspire today’s chefs.

Now, the wall has been blown out, cabinetry, counters and appliances replaced, and a very snazzy backsplash highlights the wall. The kitchen wasn’t reconfigured and sometimes that’s OK as some layouts are timeless and some locations don’t offer a choice. All this kitchen is waiting for is a buyer’s fridge … in this case a cabinet-depth model is the perfect choice.

The living space has also been quite well-refreshed. Gone are burnt pumpkin rag-painted walls, popcorn ceilings and tired stone floors. Now the living, dining, and kitchen area is a modern, slick space complete with a waterfall kitchen counter edge, fireplace and bar/wine fridge area. The double set of floor-to-ceiling windows brings in the light while tempting you outside.

Some high-rises are a bit thin in my book which translates into rooms requiring more reasonably sized furniture. Buyers hauling Plano-sized sectional sofas with matching Barcaloungers will want to donate those to charity before moving in. The dining area is generous and removing the wall enclosing the kitchen opens the space to the max. Elegant crown molding also brings a grown-up-ness to the whole unit.

Older condos also get a (deserved) rap about a lack of closet space. Back in the day, fewer, better quality clothes were how people lived. Older homes weren’t built to keep pace with today’s rapidly-changing, H&M disposable fashions. Something this female flipper perhaps understands better than the boys.

It may not be the ubiquitous walk-in, but an end-to-end wall is the next best thing. The mirrored doors do double duty making the master bedroom seem larger and light-filled, but also provides twirling space and an impromptu three-way mirror. It’s an Elfa closet system so the new owner can configure the space to suit and even buy more pieces should the need arise.

Finally, there’s an added bonus. In the coming months, the building will be renovating their public areas including the hallways. Seen above is a very modern, transitional grey palate. I’m also told that while some high-rise buildings in Dallas have cray-cray HOA boards, The Beverly isn’t one of them.

Have a peek at this wonderful renovation, buyers will be impressed. And stay tuned for as this young flipper embarks her career.

Remember: Do you have an HOA story to tell? A little high-rise history? Realtors, want to feature a listing in need of renovation or one that’s complete with flying colors? How about hosting a Candy’s Dirt Staff Meeting? Shoot Jon an email. Marriage proposals accepted (they’re legal)! [email protected]