Pick a path. Each leads to this duplex-turned-single-family residence in Southmore, but only the left fork heads to its front entry. The 1930 home is on a street of octogenarian 2-unit houses and newer 3-story townhomes just north of Southmore Blvd. in the Museum District’s transforming hinterlands. This newly listed two-for-one is asking $395,000.
Since the reworked interior retains much of the original floor plan and features, the home’s next owner might want to undo the conversion. Or not:
Rehab complete, this cleaned-up 1975 Forest West home is back on the market, a full year after its last sales effort. Two weeks ago, the property re-listed with a new agency at $189,000. A previous listing would have sold for $109,500 in May 2011 but dropped the price to $95,000 before ending its summer run in August.
The Colonial-style entry, a nod to the nation’s Bicentennial run-up, maintains its broken-pediment tailoring. But renovations in the interim changed a bunch of other things: adding granite in the kitchen and bathrooms, swapping out tile and carpet throughout the home, removing wallpaper and painting over paneling, repainting inside and out, and replacing the hot water heater, kitchen cabinets, exterior French doors, and all the sinks, tubs, and toilets.
And, in lieu of furniture, adding a few discreetly placed potted plants for the photo shoot.
Last fall, the restoration-minded owner of this stretched-out 1956 Mod by architect Lucian Hood in Braeburn Valley told Swamplot he was fixing to sell his property. Now, having finished reviving the redwood exterior from beneath the paint that covered it up and sprucing up the brick and ledge stone walls, Jason Jones reports his 5-year project is ready for its closeup, just listed, and now asking $365,000. The home is located on a big corner lot across from Braeburn Country Club greens — and next to Maison DeVille, a Mansard-roofed apartment complex from 1962, later converted to condos.
Everything above the roof ridge of this 1959 ranch-style residence in Spring Branch Woods forms a massive, single room across the back of the home. Listed last weekend at $443,000, the biggest-on-its-block property is located in Spring Branch Woods, just west of Bunker Hill Rd. The tree-lined stretch of Westview Dr. street has mostly smaller, 1-story suburban homes from the mid-fifties, including one across the street with the proverbial white picket fence.
Since 1984, this home-with-pool has changed hands seven times, HCAD records show. And it’s been remodeled a time or two. A roof-raising addition in 2000 made way for the aptly named “Great Room,” a 26-ft.-by-19-ft window-display showcase:
Additions and renovations to this metal-clad warehouse building tucked between the Eastex Fwy. and the Chenevert St. entrance ramp headed north from Minute Maid Park have begun, the city announced today. The 2-story, 19,080 sq. ft. building tucked behind the Star of Hope Mission on Ruiz St. will become the 84-bed Houston Center for Sobriety, modeled after a smaller facility in San Antonio called the Restoration Center. When the $4.3 million project is completed later this year, police will deliver drunks to the 150 N. Chenevert St. address instead of jail, for a little R&R.
Photo: Candace Garcia
Back in April, former Bootsie’s Heritage Cafe chef Randy Rucker gave up on plans to open a new restaurant in the holdout parcel (above and at bottom right in the photo at right) behind the Asia Society Texas building. Now that property’s owner, Balcor Commercial, is giving up on it as well. The 3,624-sq.-ft. former doctors’ office on a 11,700-sq.-ft. lot at 5219 Caroline was listed for sale earlier this month for just a tad under $1.5 million. The property traded hands for $907K back in July of 2010, when Japanese architect Yoshio Taniguchi’s steamy building next door was just a muddy construction site. Renovations of the Caroline building for Rucker’s conÄt never began. “Unfortunately, converting the Caroline property into a fully functional restaurant while maintaining the integrity and design of the structure turned out to be a challenge,” an owner’s rep tells Swamplot.
The grass is always greener when it’s part of an overhaul. A redo (above) of this 1968 home in Forest West (at right) lawned-up the yard, boosted the landscaping, and thinned out the tree limbs. Then, the makeover moved inside, adding fresh paint, a new HVAC system, carpet, and 2012-ier finishes in the kitchen and bathrooms. The home is just a couple lots away from the crosswalks of HISD’s Clifton Middle School and adjacent Forest West Park.
The revamped property was listed earlier this week at $159,900, but in February 2012 it changed hands for $85,000. That previous listing’s initial asking price was $139,900 — in September 2011. But it tumbled every few weeks thereafter: from $132,500 in early October to November’s double-dips of $124,900 and $114,900 to holiday pricing of $109,900 . . . and a new year-new price of $99,900.
Talk about a gated driveway. This Lancaster Place cottage’s half-a-yard carport extends to the front sidewalk, with a double-garage door and entry gate punched into the lot-line iron fence. The combination gives the front yard a shaded pavilion as well as a parking area. It’s also the starting point of a partly-paved, partly-pebbled path to the front porch and an office in the converted, detached garage at the back of the lot. The 1910-built home has been updated several times, including some work in 2004. Since then, there’ve been big changes a couple blocks away at the corner of Dunlavy and West Alabama: A new H-E-B Market has replaced some apartments, and some new apartments are about to replace the just-shuttered Fiesta Mart.
COMMENT OF THE DAY: WHY THERE’LL BE NO 1301 RICHMOND REDO AT THAT SELLING PRICE “At 2.9 acres of physical land, and a purchase price of X (let’s assume priced to the dirt, likely $50/foot) they are in this deal for $6MM dollars day one. If they wanted to be in the business of renovating (This IS income producing property, not pride of ownership single family housing) and retaining the character of the original complex, look at the math . . . assuming a coverage ratio of 1/1, and average unit @ 1000 square feet, that gives you 120 units and 120,000 to renovate meticulously. Assuming you would have to put $20,000 into each unit to justify buying this deal, you’ve now got $6MM + $2.4MM in renovation dollars, plus the fact you’ve got to kick everybody out of their unit to renovate it, do the work, then relet the unit. So, that puts you at 1 year of ZERO revenue, and whatever associated costs there are there. For the sake of argument, your all-in is $10MM. THEN, after you have painfully restored a garden complex to the delight of yourself (I promise you the neighborhood won’t come out and bring you a check for your efforts to retain transient renters for another 50 years), here is your reality: 1) you would need to jump rents from $800/month to $1200 or greater, lease them all, then sell at a benchmark cap rate exit for such a non-conforming product, and that’s assuming you get your investors interested in the capital and scope in the first place, rather than buiding a 2.5:1 ratio development against $50 dirt 2) you would need to find an exit partner with just as much interest in running this model as you did creating it. institutional buyers that are willing to overlook the latest TCC Alexan product to buy a risky retrofitted low coverage ratio multi family deal in a market that has very little inventory of trailblazing like product. what i’m saying is this won’t exist, so you’re stuck with cash flow now. So . . . you have $10MM in it, and if you are the greatest level of execution here, you are 7 years of revenue before you are whole on your initial investment, and you have a huge chunk of change parked in it, with zero recap abilities. if i run a bank, i’m not cashing you out of that mistake.” [HTX Rez, commenting on Report: Castle Court Midrise Planned for Andover Richmond Apartments Site]
Here’s an idea: How about buying that old rundown Houston house where President Lyndon Johnson lived in the early 1930s that nobody seems to want, then trying flip it for more than twice the price? Great idea, but you got beaten to it.
The 1904 farmhouse-style structure on the corner of Hawthorne and Garrott in the Westmoreland Historic District was snatched up for less than $285,000 this past March — about a year after it first went up for sale (for a significantly higher price). As of mid-June the home is back on the MLS, with a few photos of the renovation-in-progress to spur interest. What could the would-be flippers do to the place that would bring in a price around, say . . . $619,900?
The arches are gone, and new steel is up: Reader Ken Barnes sends in this shot of the rather extensive “renovations” taking place on the former Village Kids and Janie & Jack building across the street from Central Market at 3838 Westheimer, down the street from the Highland Village Shopping Center. It’ll be the Houston area’s third Pinkberry, the first inside the Loop.
Photo: Ken Barnes
Sure — you wanna hear the scoop behind this set of drawings showing the vacant and forlorn 10-story office building at 3400 Montrose Blvd. across Hawthorne St. from the Montrose Kroger transformed into a glassy white figure with real big numbers. Unfortunately, the tipster who sent these pix to Swamplot didn’t include additional info on any possible plans for the structure, which since last September has been the property of real estate firm Global Paragon. The rendering shows a building that’s jettisoned its distinctive limestone panels in favor of a more conventional office-building grid. Progress in that de-facing process began last fall. A watermark in the bottom right corner of the image reads “Lizard House, Inc.”
Images: Swamplot inbox
FAIR WARNING: ABOUT TO MESS WITH ALABAMA THEATER MARQUEE 
Publicists for Weingarten Realty want Swamplot readers to know that workers about to poke into the underside of the Alabama Theater marquee aren’t dismantling it. They’ll only be replacing the lights there with new LED fixtures. Doing that will require removing the soffit panels below the Shepherd-facing sign on the soon-to-be first Houston-proper Trader Joe’s. “The marquee will look just as it does today with the only exception being new energy efficient lighting on the underside,” the shopping-center owner tells Swamplot. The work should take about 2 weeks. [Previously on Swamplot] Photo: Weingarten Realty
Does the conversion of 2 former Borders Books locations (or at least part of them) into some sort of medical facility constitute a trend? Texas Children’s Pediatric Associates is building a clinic in the former Borders mezzanine space in the not-in-River-Oaks Centre at River Oaks at the corner of West Alabama and Kirby. And Kelsey-Seybold announced yesterday it’ll be turning the former Borders store in Meyerland Plaza — along with the long-vacant Planet Music space above it — into a new medical clinic and pharmacy. Of the 72,000 sq. ft. in the new “Multi-Specialty Care Center,” 27,000 will be used as warehouse space, according to a company press release.
Instead of razing this ranch-style home, the new owner raised the roof, adding a heap of space on the second floor and reworking the original floor plan downstairs. Located in Woodside, near Longfellow Elementary School, the 1957 home morphed via a to-the-studs renovation and addition following its purchase in 2009 for $315,000. Now weighing in at 3,621 sq. ft., the new listing’s asking price is a much heftier $675,000.
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