Flip Investment in Palma Sola Park, Bradenton
This stunning 5-bedroom, 3-bathroom home in Palma Sola Park, Bradenton, FL, was purchased in March 2020 for $249,000. Following extensive renovations totaling $150,000, it was completely transformed and sold in March 2023 for $850,000. The delay in sale was due to the COVID-19 pandemic, but the investment still delivered a remarkable profit.
Investment Summary
| Detail | Description |
|---|---|
| Purchase Price | $249,000 (March 2020) |
| Renovation Costs | $150,000 (completed in over 6 months in 2021-2022) |
| Sale Price | $850,000 (March 2023) |
| Gross Profit | $451,000 |
| ROI | 123% |
Property Highlights
- Location: Palma Sola Park, a historic coastal community with direct access to Palma Sola Bay.
- Size: 2,906 sq. ft. of living space on a double lot, offering plenty of room for a pool.
- Features: Open floor plan, gourmet kitchen, wood-burning fireplace, and luxurious modern updates.
- Upgrades: New roof (2020), HVAC (2021), water heater (2021), Quartz countertops, stainless steel appliances, new bathrooms, and flooring Fresh paint, new sod, and irrigation system repair
- Potential: Ideal for Airbnb or a forever home, with no HOA, rental restrictions, or flood insurance requirements.
Current State
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Flip Investment Process
- Property Selection: Identified a high-potential property in Palma Sola Park
- Renovation: Executed a comprehensive remodel to enhance aesthetics and market value.
- Sale: Sold for over three times the purchase price, demonstrating exceptional market insight.
Before Pictures
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Conclusion
This flip investment exemplifies Michaela’s expertise in identifying undervalued properties, transforming them into luxurious homes, and achieving extraordinary returns. With a strategic approach, even pandemic delays couldn’t hinder the success of this project.
Connect with Michaela
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