This week High Caliber Home of the Week, sponsored by Lisa Peters of Caliber Home Loans, takes us to an absolute gem of a home in Oak Lawn. Well, do that three houses to be precise.
Randall Elms of David Griffin and company real estate agents has the listing for a gorgeous 1925 Tudor duplex, each with two bedrooms and a bath, plus a modern chalet efficiency at the rear of the property. By my calculations, it’s a home for you, an efficient cottage for your office, and an income-generating home for short or long-term rental. How ideal is this setup?
The top-to-bottom duplex was professionally designed with modern amenities and a tip of the hat to history, Elms says. This property has been thoughtfully updated inside in modern paint colors and luxury finishes, and a beautifully appointed Al Fresco living and dining area with a cozy nostalgic porch outside.
A large cottage efficiency sits at the rear of the property with an inviting porch and outdoor dining area. It has a kitchenette, a bathroom, a laundry room and a air-conditioned dog house.
“The property sits in a block of Oak Lawn that has seen years of redevelopment from those stately homes to multi-unit developments,” says Elms. “This is the last 1925 construction with a full lot on the block. The owner/designer loves historic properties and modern finishes so he married his two loves in this property.”
A lot of time, effort and expense has gone into making the layout of the home as smart as it is today without sacrificing historic texture. Thus, the building envelope remains the same.
“The owner lived and worked on the property issues without changing the historic charm,” says Elms. “First, he decided to completely transform the chalet into a modern one-room efficiency.”
Then he updated the electrical panel for safety. Over the years, the water, sewer and gas pipes have been replaced. The kitchens have new high-end appliances in the refreshed original cabinetry.
After the first year, the owner decided to turn this property into an AirBNB. Revenues from this property have tripled in the seven years of operation, and revenue this year is expected to reach $150,000, Elms said.
Elms says the owner still has a project between clients to continue to continually improve the property. The courtyard is lush with outdoor patios and dining areas, rock carvings, and a large grassy yard.
“It takes an owner engaged in operations to provide the guest with a ‘five diamond’ experience,” says Elms. For example, he coordinated a special dinner party with a private chef and a string quartet for a guest’s marriage proposal in the garden.
Randall Elms of David Griffin and Company Realtors has listed 4220 Rawlins Street for $1.5 million.
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