S.O.M. Investments had a wonderful opportunity to team up with another investor organization, Revita Properties. With them we Joint Ventured on this amazing three-bedroom, one-bathroom bungalow in the community of Acadia; one of the older neighborhoods in Calgary, Alberta.
The property was purchased from the bank that had been left idle for many years. Still in its original 1960 design. The property required to be brought up to code and injection of life into this once beautiful home. The front and back yard had been abandoned and a jungle of garbage, lean too buildings and greenery had to be removed and started from scratch.
The biggest hurdle in these older homes is trying to salvage the original character of the property but being able to modernize and upgrade the property for today’s homeowners. This started with us removing walls between the kitchen and living room to give it the modern day open concept. After opening the kitchen and living room area a new kitchen was installed with an island. The kitchen floor was matched with the existing hardwood flooring and completely refinished, letting us keep the old with the new. New drywall and paint finished the main level.
In the basement, old panelling was removed, the layout was redesigned to accommodate a second bathroom, bedroom, laundry, along with a recreational room. As well as, all the plumbing and electrical were upgraded and reallocated to accommodate the new layout. Once that was done all new drywall, paint and flooring were installed.
On the outside, the backyard was completely gutted and the old garage/shed and lean-to were removed. There was an amazing 50+plus year old tree that lined the back alley and to again preserve the old tradition the backyard layout was designed to keep the tree. We ended up relocating the detached garaged to the other side of the lot and building an RV spot where the old garage was. New sod, plants and decking finished off the back area. The front yard also received a transformation. Wrought iron fencing was removed from the perimeter. Over grown shrubbery was trimmed back and dead plants replaced. Upon completion, you would never have recognized it. The project took 8 weeks from beginning to end and was completed under budget. Sold the first weekend on the market, we obtained full asking price and closed in three weeks. All-in-all this was a home run and a great partnership.
Timeline: 8 weeks
Items Completed: Roof, Furnace, Flooring, New Garage, Doors, Trim, Tile, Landscaping, Cabinetry, Bathrooms, Paint, Lighting, Plumbing, Electrical and so much more!
Property Sold: $490,000
Square footage: 945 per floor
Year Built: 1961