This week’s 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, make that three homes to be precise.
Randall Elms of David Griffin and Company Realtors has the listing for a gorgeous 1925 Tudor duplex, each with two bedrooms and one bath, plus a modern cottage efficiency in the property’s rear. By my math, that’s a home for you, an efficiency cottage for your office, and an income-earning home for short- or long-term rental. How ideal is that set-up?
The up-down duplex has been professionally designed with modern amenities and a hat tip to history, Elms says. This property has been carefully updated inside in modern paint colors and luxury finishes, and a lovingly landscaped Al Fresco living and dining area with a nostalgic cozy front porch outside.
A large cottage efficiency sits at the back of the property with an inviting front porch and outdoor dining area. It has a kitchenette, one bath, laundry, and an air-conditioned dog house.
“The property is in a block of Oak Lawn that has seen years of redevelopment from these majestic homes to multi-unit developments,” Elms explains. ”This is the last 1925 build with a full lot on the block. The owner/designer loves historical properties and modern finishes, so he married his two loves in this property.”
A lot of time, effort, and expense was put into making the home’s layout as smart as it is today without sacrificing historical texture. As such, the building envelope remains the same.
“The owner lived in and worked on the property issues without changing the historical charm,” Elms says. ”First, he decided to completely remodel the cottage into a one-room modern efficiency.”
Next, he updated the electrical panel for safety. Over the years the water, sewer, and gas lines were replaced. The kitchens have new high-end appliances within the original refreshed cabinetry.
After the first year, the owner decided to set up this property as an AirBNB. The revenue from this property has tripled over the seven years it has been operating with this year’s revenue on track to be $150,000, Elms says.
Elms says the owner always has a project going in between guests to keep continuously improving the property. The yard is lush with patios and al fresco dining areas, rock sculpture, and a large grassy backyard.
“It takes an owner that is engaged in the operations to give the guest a ‘five diamond’ experience,” Elms says. One example, he coordinated a special dinner with private chef and 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.
