6514 N 22nd Street
A CONCIERGE SUCCESS STORY
Compass Concierge
The housing market is more competitive than ever, with most buyers looking for nearly turn-key properties. It is up to us agents to get your home market-ready, while still maximizing the return on your lifelong investment.
Compass Concierge is the hassle-free way to transform your home with zero upfront costs or interest. With Concierge, you do not have to pay the initial out-of-pocket costs for home improvement services like painting, staging, flooring and more. When your home sells, simply pay back the costs of the services provided.
6514 N 22nd Street
CASE STUDY
Background
This townhome built in 1976 had been an investment property with rental tenants in place for many years. While located in a desirable neighborhood close to Metro, the Covid-19 pandemic had made Metro a less sought after amenity and there was a disappointing recent comparable sale in the development. The property was in desperate need of cosmetic improvements to capture the most value possible. The owner of the property lived in California and needed local experts to manage the entire renovation process.
Projected Results
- Original “as-is” value projection +/-$750,000
- Compass Concierge Budget: $50,000
- Seller Upfront Expense: $0
- Initial Post Renovation Estimated Value: $830,000
Scope of Work
INTERIOR
- Kitchen: Full kitchen renovation with new cabinetry, Quartz countertops with undermount sink, new suite of Samsung stainless steel appliances, new hardware and custom light fixtures
- Baths: Full renovation of both upper level baths including new floor and shower tile, new vanities, new bath fixtures, toilets and new designer lighting; Full renovation of main level powder room as well as new flooring, vanity, mirror and lighting in lower level bathroom
- Flooring: Removed all carpet and installed new white oak hardwood floors with a modern silver-gray stain on main and upper level; Installed luxury vinyl flooring over existing parquet floors on basement level
- Paint: Repainted entire interior with designer white and painted basement fireplace matte black
- Fixtures/Hardware: Replaced interior light fixtures and all door hardware throughout
- Staging: Staged the entire main level, the Owner’s Suite, all bathrooms and the lower level family room.
EXTERIOR
- Landscaping: Refurbished exterior landscaping, trimmed overgrown trees and powerwashed rear patio
- Painitng: Painted front door and replaced dated door hardware with new matte black hardware
The Results
- List Price: $825,000
- Days on Market: 7 Days
- Number of Offers: 5
- Final Sales Price: $855,000 with no contingencies
- Sold for $40,000 above the highest recorded sale in the development
- Estimated Return on Investment for Compass Concierge: 2X
Owner Testimonial
“Dave and Claire Abrams are the best real estate team in the DC area. We were in a slightly more complicated situation because we live in California and the property, which needed a complete renovation, is in Arlington, VA. Meaning everything had to be managed remotely. This didn’t phase Dave and Claire at all - and working with the Abrams Team was by far one of the best experiences.
It can feel daunting thinking about selling a property, especially one that needed as much work as ours, and Dave made it as easy and seamless as possible. He managed the entire process from receiving bids, selecting a contractor, and overseeing the work throughout the renovation. He brought us in on all the important decisions, kept a detailed budget, and frequently sent updates around the renovation and proposed timeline.
When the work was completed, the home looked like a modern, beautiful home waiting for the next family to make it their own. We had it on the market for one week before we received five offers - all over the listing price. Ultimately, we selected an offer $30,000 above our asking price that also happened to be $40,000 above the previous record sale in our development. Better yet, we closed only two weeks later with no hassles or surprises. We are so thankful to have worked with Dave and Claire and highly recommend them to anyone who is considering buying or selling a home in the DC area.y Compass Concierge at no upfront cost to me! You’d think I was their only client for all the time and energy he expended on the makeover process.”
Abrams Residential
Abrams Residential specializes in holistic real estate solutions that are data driven, design-minded and laser focused on both our clients’ desired results and their wellbeing. As a husband and wife team raising our family in Shaw, we are truly a local, family business and we understand that success lies in the details. That’s why every property we represent receives our personal attention and care from the moment we walk into your home until far beyond settlement. We believe in building lifelong relationships built on trust and performance, which is why over 90% of our $150MM+ in sales have come from repeat and referral clients.
ABRAMS RESIDENTIAL BY THE NUMBERS
- Over $150MM+ Sold
- Recognized by The Washingtonian as a Top Producer
- Recognized by Compass as a Top Agent
- 90%+ Repeat/Referral Business
- 50+ 5-star reviews on Zillow